Price anchoring: Unlock growth with behavioral pricing

Customers do not always behave 100% rationally when making purchase decisions. Many factors influence their ability to choose the right product or service. In fact, the way people actually make decisions is often a combination of rational and emotional.

Using behavioral affects can increase a company’s chances of selling more at better prices. In this article, we discuss anchoring bias and other behavioral pricing techniques. 

What is behavioral pricing?

Prices are a significant aspect of a product. They are instantly noticeable and highly pertinent when consumers decide to buy. Behavioral influences underscore that consumers do not always think logically about price. This is the point where behavioral pricing…