7 ms·
Still there's quite a bit of wiggle room for experimenting. Compare - Pick a price between $1.95 and $19.95 to - Pick a price between $4.95 and $49.95
by huhtenberg 13y ago
Still there's quite a bit of wiggle room for experimenting.
Compare -
Pick a price between $1.95 and $19.95
to -
Pick a price between $4.95 and $49.95
Both allow picking up a copy for under $5, but the second one will yield a higher average price. That's your good old anchoring.
Another example. If you have an axis representing suggested prices, then if your tick marks go in $0.50 increments, people will likely to end up paying less on average compared to $5.00 increments.
And so on. Cognitive manipulation is your friend :)
[0] http://en.wikipedia.org/wiki/Anchoring http://en.wikipedia.org/wiki/Anchoring