Pricing strategies are one way businesses get you to accept paying more for a product. Anchor pricing is when a more expensive item is listed first to make the other items seem less expensive. For example, when you see the first item on a restaurant menu is much more than you anticipated, but as you scroll further down the menu you notice the prices of other items may be high. They do seem relatively lower than the anchor price you initially saw. This pricing strategy is used in many businesses to trick a customer into making a purchase, even though the price may still seem high.
Read more: How Anchored are Your Prices?
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