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412 Decoded by Phil Barden

The Marketing Book Podcast

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How to Anchor Value

Anchoring is also a very important concept because we don't have a supercomputer in our heads that remembers every price of every item. We always judge things relative to something else, so our perception is always relative. What anchoring does is establish a price, an anchor price, and then we can use that to affect the perception of what follows.

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