Price Anchoring

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Namaskar 🙏

All are good 🤗

So today's topic is 👉Anchor Pricing

Understand Anchor Pricing strategy

Price anchoring is a pricing strategy that plays on buyers' inherent tendency to rely heavily on a piece of initial information to guide subsequent decisions. In the context of pricing, many businesses will set a visible initial price for a product but make a point of showing that it's now being sold at a discount.

📈Price Anchor Effect 

Price anchoring is a pricing strategy that plays on buyers' inherent tendency to rely heavily on a piece of initial information to guide subsequent decisions. In the context of pricing, many businesses will set a visible initial price for a product but make a point of showing that it's now being sold at a discount.

What is an Example of Price Anchoring?

Every time you see a discount with “ $90 $50″, the $90 is the price anchor for the $50 sales price. The idea behind price anchoring is that customers tend to perceive pricing relatively. A product is perceived as expensive or cheap in comparison to the initial price point.

I hope all are understand the psychology of Price Anchoring 🤗

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