Therefore, for businesses whose product sales require consideration

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Bridging the buyer 's willingness to pay and the seller's willingness to agree on a certain price desired by the buyer. In the Behavioral Economic review, the application of the Endowment Effect greatly influences the decision-making process by consumers.  when purchasing, this tactic is very necessary. When offering the Endowment Effect, sellers must emphasize the risk aspect of losing the opportunity to get a good deal/offer, which is only valid for a certain period.

Apart from that, provide maximum service. Make sure your sellers or employees fully Iran WhatsApp Number Data understand the products that consumers want, starting from price, benefits, and so on. So, how can you as an MSME actor apply endowment effect tactics in your business? Here are several things you can do according to Kris Moerwanto. Also Read: Kris Moerwanto.

What's Unique about Neuromarketing, a Super Effective Marketing Strategy! Conduct Thorough Market Research Endowment Effect Source: Unsplash Market research is considered capable of increasing opportunities to gain greater turnover and profits compared to those who do not carry out market research.