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If you've ever read a book called "Influence: The Art of Persuasion" [1] you'll recall a story about a store that sold rocks in New Mexico. The woman who owned
by wallawe 14y ago
If you've ever read a book called "Influence: The Art of Persuasion" [1] you'll recall a story about a store that sold rocks in New Mexico. The woman who owned the store was trying to offload all of her turquoise during peak tourist season, so she set the price a lot lower than normal. Although this was the most popular sell typically, fewer people started buying thus having the reverse effect of what she wanted. She relocated the stones' showcase to the front and center of the store. Sales plummeted further.
As she left for a short vacation, she left a note for one of her employees to drop the price to half of what it already was, and at least try to make a little bit of money back. But the employee misread the note and accidentally doubled the price of the turquoise. By the time the store owner got back, the rocks had sold out, at DOUBLE the price.
The store owner contacted the author of the book, a psychologist (I forget why) and he explained the reasoned this may have happened. Most of her customers were affluent and wealthy tourists who had been under the subconscious impression that you get what you pay for. When they saw high-priced stones, they knew that they were getting quality stones, at least that's what they had been led to believe through years of dealings.
This is why this guy's experiment will work and is a great idea. He is probably no more skilled than many of the hackers on here, but he stands out with his exorbitant price tag and some companies figure, 'hey, you get what you pay for.' This is especially true in the business world. So regardless of the fact he may not be worth it, or may not possess superior abilities, if he is getting the money which I hypothesize he will, more power to him.
[1] http://www.amazon.com/Influence-Psychology-Persuasion-Business-Essentials/dp/006124189X http://www.amazon.com/Influence-Psychology-Persuasion-Busine...
- caw 14y agoI believe in the same book, the author explains black pearls. They were previously trinkets--very cheap. It wasn't until they were put in a high end jewelry store in New York that they were suddenly desired, and commanded a price premium.