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Dacey Rankins

added blog Business
2025-09-04 12:12:33 -

Do You Offer Any Discounts or Promotions?
When customers interact with a business, one of the most frequent questions they ask is: “Do you offer any discounts or promotions?” It’s a simple question, but it reflects a powerful truth about human psychology: everyone loves a deal. Discounts and promotions can influence purchasing behavior, shape brand perception, and even determine long-term loyalty. For businesses,...

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Michael Pokrovski

added blog Decision Making and Problem Solving
2026-06-09 05:11:25 -

What is the anchoring effect in pricing?
What Is the Anchoring Effect in Pricing? The First Number Changes Everything A customer enters a store looking for a watch. The first model they see costs $2,000. A few minutes later, they find another watch priced at $800. Suddenly, $800 feels reasonable. Perhaps even inexpensive. Had the customer encountered the $800 watch first, the reaction might have been very different. The...

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Michael Pokrovski

added blog Decision Making and Problem Solving
2026-06-09 05:06:28 -

Why do discounts and sales work?
Why Do Discounts and Sales Work? The Strange Power of a Crossed-Out Number A person walks into a store and sees two price tags. The first says: $100 The second says: $150 → $100 The final price is identical. Yet the second offer feels significantly more attractive. Nothing about the product changed. Nothing about the amount paid changed. Only the comparison changed. And that...

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