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Isn't there a story about how a certain wine nobody bought but once they jacked up the price, its perceived value was higher and people thought it tasted better

by weka 7y ago

Isn't there a story about how a certain wine nobody bought but once they jacked up the price, its perceived value was higher and people thought it tasted better and it sold more?

Djvacto 7y ago
I think this was Grey Goose Vodka?
jeromegv 7y ago
It's the whole fashion industry. Pricing isn't correlated to raw cost, there's a whole science behind that.