Anchoring and Pricing: How First Impressions Shape Purchase Decisions | Behavioral Economics in Marketing Podcast | Season 10 - In Review
Description
Why does a $149 pair of headphones feel like a bargain — just because you saw a $399 pair first? That’s the power of anchoring, one of the most influential (and often overlooked) pricing strategies in behavioral economics.
In this episode of Behavioral Economics in Marketing, we explore how the very first number your customer sees — whether it’s a premium product, a crossed-out “original price,” or a high-priced menu item — can shape every decision that follows. You’ll learn how to use anchoring to your advantage without crossing ethical lines, plus actionable tactics like tiered pricing, decoy options, and reset strategies if your anchor misses the mark.
Whether you’re pricing products, proposals, or promotions, anchoring helps you influence value perception and drive more confident conversions.
Key topics: pricing psychology, value framing, consumer behavior, ethical marketing, pricing tiers, sales strategy.
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Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute.
United States
