I thought this book was a very interesting read. This book definitely had me thinking about the ways I consume and my way of thinking through the process.
I noticed that when I buy a product I am one of those who is influenced by anchoring, which according to the book, has a major long-term effect on our willingness to pay. I usually will compare a price of a product by the price I think it is worth relevant to another similar product. I'm one of those consumers that can relate to the pearl example in the book. If its a product that is offered in a high end store, I assume that is must be more luxury than a similar product sold at a Walmart.
I'm a broke collage student, so I mostly shop for price over the quality and or a name brand of a product, but I do fall for the FREE products from time to time. If its buy one get one free, I will usually buy that over the product that I actually need, or that is of way better quality or poorer quality. (I still believe all toilet papers are the same)
The concept and experiment in this book will definitely have me thinking the next time I go to make a simple purchase at the grocery store or an even bigger purchase such as a new horse trailer.
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