Marketers can compete against higher-priced competitors by anchoring consumer expectations with lower numbers, such as using low-numbered product codes to influence the perception of a product's price.

Authors

• Person: Paul Conner Organization: Quirk's
  Behavioral economics: what it is and three ways marketers can use it

Sources

• Behavioral economics: what it is and three ways marketers can use it www.quirks.com Paul Conner · Quirk's via serper

Referenced by nodes (1)

• Anchoring and Adjustment concept