Price anchoring is a psychological strategy that influences consumers’ perception of value. By presenting a higher price next to a lower one, customers tend to see the latter as a better deal. Learn how to sweden mobile database this effective technique in your business.
You're probably tired of using very obvious sales techniques that rarely bring the expected results.
Today we are here to teach you how to make sales strategically and justify the price of a product, using a very popular technique: price anchoring .
Continue reading and find out what it is, how it works and how to implement it in your business.
What is price anchoring?
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Anchoring is one of the persuasive sales techniques and involves the concept of comparison, highlighting one price in relation to others. This is done with the aim of convincing a customer that the product's value is ideal and very advantageous in relation to others.
This approach is a psychological technique that began to gain notoriety in the 1970s, mainly through the work of Nobel Prize-winning psychologist Daniel Kahneman and economist Amos Tversky. Their research explored the cognitive biases and decision-making patterns that influence human choices.
In the business context, price anchoring began to be used more systematically as sellers understood its impact on influencing consumer purchasing decisions with comparative pricing. This approach has become increasingly valuable in the world of marketing and sales.