Marketers advice : anchoring is a very powerful

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Stanford University scholars Simonson and Dholakia studied this effect during an auction of Pink Floyd music CDs, where each disc had a starting price of $1.99.

During the auction the discs to be auctioned were divided into two groups:

First group : These copies were put on display together singapore business email list with other CDs. These had a lower base price, starting at $0.99;
Second group : These were exhibited with CDs having a higher base price, starting at $6.99.
The second group's records were sold at increasingly higher prices than those of the first group.

Except in one case: when the sellers clearly highlighted the price difference.
tool even in infoproduct launches.

anchoring effect

If you announce a certain price during the pre-launch and anchor it in people's minds, but then launch the product at a lower price than announced , people will be much more likely to purchase it.

7 – The Baader-Meinhof phenomenon
You just discovered a weird new word, or your new favorite car , or a crazy pair of glasses. The next day, you see them everywhere.

Advertising on TV, walking down the street, on billboards, in newspapers.

How is this possible?

selective attention

It is the Baader-Meinhof phenomenon and is caused by two different processes: