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#626 - Richard Shotton - 8 Psychology Hacks Behind The World’s Biggest Businesses

Modern Wisdom

CHAPTER

Psychological Pricing Strategies

This chapter examines extremeness aversion in pricing strategies and explores the psychological principles that influence consumer behavior in retail environments. It discusses how anchoring high prices can enhance perceived value for lower-tier options, as well as the role of presentation in consumer decision-making. The chapter also highlights the complexities of human behavior and the importance of testing marketing strategies to effectively engage target audiences.

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