Effect of individual differences in desire for control on willingness to pay for a customizable product

Abstract

People are innately motivated to exert control over their environment and to feel competent through gaining a sense of control. However, there are individual differences behind this motivation (desire for control). The present study investigated whether individual differences in desire for control could influence their willingness to pay for a customizable product as a result of increased perceived control over it. The results showed that individuals with a high desire for control were willing to pay more for a customizable product as compared to those with a lower desire for control. Furthermore, this effect was caused by increased perceived control over it. From the marketing perspective, the present findings suggest that it may be an effective strategy to target customizable products towards consumers with a high desire for control.