Price Anchoring
The practice of setting a reference price (anchor) to influence customer perception of a product’s value, making it seem more affordable or valuable in comparison to the anchor price.
Common Techniques
High-Priced Comparisons
Presenting an initially high price alongside a lower, discounted price, making the discount seem larger and the product more attractive.
Decoy Product Pricing
Introducing a high-priced decoy item next to the product you want to sell, making the target product appear as a better deal.
Bundle Anchoring
Offering bundled products at a price that makes individual items in the bundle seem like a better value when compared to purchasing them separately.
Subscription Tier Anchoring
Presenting a high-tier subscription with many features as a reference, making the middle-tier option seem more reasonable and affordable.
Cross-Category Comparison
Positioning products from different categories together (e.g., luxury vs. budget) to create a perceived value difference and nudge customers toward the target product.