Anchoring - Sales Glossary - Upnify
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Anchoring


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.


for example:

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.