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Download PDF Tactics: Volume 3: v. 3

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Used Condition: UsedAcceptable Soft cover. Save for Later. Bibliographic Details Title: tactics Volume 3 v. About this title Synopsis: Ever since he was a child, Kantarou has been able to see and talk to spirits, and now, all grown up, Kantarou moonlights as an exorcist solving the problems of ghosts and demons with the help of Haruka, the legendary demon-eating tengu. Store Description Buying and selling books since Visit Seller's Storefront Terms of Sale: We guarantee the condition of every book as it's described on the Abebooks web sites.

Shipping Terms: Orders usually ship within 1 business days. Add to Wants. The price simply felt right. They misattributed that ease and pleasantness with the attractiveness of the offer. Use that insight for your own product. Wherever you display your price, incorporate multiples of that price:. One caveat: include two — and only two — multiples. Round prices e.

Wadhwa and Zhang found that round prices — because they are fluently processed — work better for emotional purchases. The researchers also found the opposite to be true. Consumers need to use more mental resources to process non-rounded prices.

So those prices seem more fitting with rational purchases. Even if your purchase context is emotion-based, you should still avoid rounded price intervals e. So where can roundedness help?

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That principle can help you determine whether to add cents to your price. Coulter and Grewal found that customers prefer prices that contain the same letters in their name or birthday:. Similarly, prices that contain cents digits e. We all possess an innate self-centeredness.

We subconsciously gravitate toward things that resemble ourselves — including the letters in our name or the numbers in our birthday. Some researchers suggest that we make important life decisions based on that principle. People named Dennis are more likely to become dentists, and people named Louis are more likely to live in St.

The researchers used fMRI to analyze their brains while they shopped for online products. Turns out, the first exposure — price vs. When products were displayed first , participants based their purchase decision on the product qualities. When prices were displayed first , participants based their purchase decision on the economic value.

If you sell luxury products, you want people to base their decision on your product qualities. Thus, for luxury products, show the product, and THEN show the price. Participants were more likely to buy those products if they encountered the price first. With that exposure, people were more likely to appreciate the economic value of the purchase. Puccinelli et al. That red price became a focal point of attention — and thus the only information that men used to evaluate their purchase.

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More importantly, because men associate red prices with savings, they relied more heavily on that belief. Those findings also align with my research on color. The past two strategies helped you lower the perceived magnitude of your price. However, you can achieve the same effect by maximizing the perceived magnitude of reference prices. That high number establishes an anchor point, pulling the final settlement closer. Not only should you start with a high initial price, but you should also use a precise value. As Thomas and Morwitz explain:. X units of adjustment along a fine-resolution scale will cover less objective distance than the same number of units of adjustment along a coarse-resolution scale.

That insight works particularly well in eBay auctions. When creating your auction, you can generate more revenue by establishing a high reserve price — a price that needs to be met in order for the item to be sold.

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Given our tendency to assimilate toward an anchor point, could exposure to high prices — even for unrelated products — anchor people toward the higher end of the price spectrum? Would those people pay a higher price for your product? Nunes and Boatwright tested that possibility. What happened? You guessed it. Ariely, Loewenstein, and Prelec showed participants various products e.

They asked participants whether they would purchase each product at the dollar amount equal to the last two digits in their social security number. How can you apply that finding?


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Should you simply ask customers to contemplate a high number? Not quite. Luckily, your job is easier. In fact, Adaval and Monroe subliminally exposed people to a high number before displaying a price. That exposure caused people to perceive the subsequent price to be lower. The takeaway? If you run an online store, you could simply mention your total number of customers near your price.

When people generate their reference price, that high number will trigger an anchoring effect and their reference price will be higher. Surprisingly, though, that strategy is often the wrong approach. Baker, Marn, and Zawada suggest raising the price of your old product. You reinforce a lower reference price, which makes your new product seem more expensive. You can influence customers to choose a more expensive option if you sort products by descending price i. Suk, Lee, and Lichtenstein tested that claim in a bar. Over an 8-week span and 1, beers , the researchers alternated the sequence of beer prices.

They maximized revenue when they sorted prices from high to low.

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When consumers evaluate a list of products, they use the initial prices to generate their reference price. As humans, we focus on losses. And that hurts.