Also known as the "anchoring effect", it is a bias in the purchase decision caused by the human tendency to give greater importance to the first information received about something. It is therefore often useful as a resource in pricing; the first price you know makes all other prices seem cheaper.
A company offers three services costing $15,000, $5,000, $1,000. By putting the highest price on the left side, people read it first and feel that the last two are cheaper than they actually are.
The Sales Glossary is a compendium of all the most commonly used terminology in sales strategy. Many of the concepts listed here are used when implementing a CRM system or a digital sales funnel, no matter if they are legacy systems or an online CRM. See also our blog that deals with sales techniques, marketing and sales culture.