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Podcast: The Intuitive Customer - Helping You Improve Your Customer Experience To Gain Growth
Episode: How To Influence Your Customers Perception of Price
Description: Psychology has a lot of influence on customer behavior. When it comes to making decisions, we like to find ways to make them more manageable. Anchoring and Adjustment is a mental short cut or heuristic. We use to help evaluate numbers. Anchoring and Adjustment help us generate numbers. It works like this: First, there is a base number established either by the individual or an outside influence. Then, you adjust up or down from there. It helps simplify decision making. For example, if you needed to estimate the height of a tree, it can be ha...