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#626 - Richard Shotton - 8 Psychology Hacks Behind The World’s Biggest Businesses
Modern Wisdom
The Effect of Font Size on Pricing
A study from the Colter Brothers shows that people conflate physical size of a number with what it represents. So here, you want to be a bit careful because it is a one-off study. But it's another example of a potential experiment that you can apply to your pricing at no cost to yourself and intentionally increase your margins. If you're thinking about say extremist version, I'm thinking about not just offering you basic and premium, I'm now going to offer you basic premium, super premium. Would that change how you behaved? Your customer will probably laugh at you, swear at you,. They'll say, well, I'm not a bloody idiot, of course, that wouldn
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