Anchoring

Category
Principles
Publish Date
Status
Idea
Tags
Principles Series
Last Edit
Apr 3, 2022 01:49 PM
Word Count
50
Order ID
53
ANCHORING We make decisions based on arbitrary benchmarks (“anchors”). Someone is more likely to buy a car if a more expensive car (the anchor) is placed beside it. In this case the anchor gives the buyer the impression that the original car is a better deal than it actually is.