Do you deserve a #1 ranking?
Category:  

EtG Alcohol Testing and its Unreliability
Category:  

Rising Costs of Extracurricular Activities
Category:  

Getting People into Seats
Category:  

Tips to completing your Taxes
Category:  

A Dual Approach to Ergonomics in the Office
Category:  

Compelling Tourist Guide To Great Stalybridge, Manchester
Category:  

Adult Care: An International Perspective
Category:  

La Croissance pour les Jeux De Casino En Ligne et Jeux d'Argent ...
Category:  

Signs that you Need to Replace Your Projector Lamp
Category:  

Tattoos are Increasing in Popularity- and So are Laser School Ad...
Category:  

Symptoms/Signs Of Cataracts
Category:  

Ladies Of The Inca...
Category:  

Deposit term life insurance: no need to pay money simultaneously
Category:  

Guaranteed bad credit personal loan money: get money by lenders ...
Category:  

Emergency Room Medical Malpractice
Category:  

Make this Christmas Special for Someone in your Community
Category:  

Using the right hair care products means beautiful and healthy h...
Category:  

It is very important to choose the right hair care product
Category:  

How to Organize your Home or Home Business
Category:  

Problem Parents Have Kids Who Take Drugs. But What Is a Problem ...
Category:  

Buy hair products from genuine stores
Category:  

Give your hair the shine using salon hair products
Category:  

Advergaming: the Coined Term
Category:  

Nursing Home Abuse and Neglect in the News
Category:  

Basic Etiquette in Playing Poker
Category:  

It's All about Gambling
Category:  

Poker and Its Humble Origin
Category:  

Look Up The Library Theatre, A Fantastic Theatre In Manchester
Category:  

Montana Bears Prepare For A Long Winter's Sleep
Category:  

It's All about Gambling
Category:  

Poker and Its Humble Origin
Category:  

Life after identity theft
Category:  

Cosmetic surgery, not just for women anymore
Category:  

Basics about Internet Marketing
Category:  

Basics about Internet Marketing
Category:  

Internet Marketing: The Right Formula For Your Business
Category:  

Google Adsense Works On The Principle Of Passive Income.
Category:  

Drunk Driving Accidents
Category:  

Chief Traffic Tips Using A Quantity Of Functional Schemes
Category:  

Rated life insurance extras
Category:  

Rated life insurance extras
Category:  

Merits of Medicare
Category:  

Bad debt bites banks
Category:  

Unlock iPhone Tutorial
Category:  

Travelencia - A Review of This New Home Based Business Opportuni...
Category:  

Mandura - Just Another Juice Company? Or a Legit Business Opport...
Category:  

Fakes of Evolution
Category:  

Usana is Not a Scam! If You Are Struggling There is a Reason and...
Category:  

Costly car, costly cover
Category:  

Wills and Trusts
Category:  

TRADITIONAL CONCEPT OF MARRIAGE IN THE NOVELS OF NAYANTARA SAHGA...
Category:  

Changing the use of a rural farm - tips for making the most of y...
Category:  

Cheeky Tiger - A New Owner, A New Yacht
Category:  

Tips for unlock iPhone 3G
Category:  

Wedding Photographer Michigan - ascertain a memorable Michigan w...
Category:  

Dealing with Water Damage in San Francisco
Category:  

Difference between website design and SEO
Category:  

You want your Adsense ads placed where your visitors will most l...
Category:  

What Is Cash Gifting and Is It Legal?
Category:  

Drowning: Pool Drain Entrapment
Category:  

Things You Can Learn From Movie Posters
Category:  

Beauty - How To Succeed 2
Category:  

Healthcare Providers - What Advertising Method Is Probably The M...
Category:  

You Healthcare Facility Must Stand Out Among The Competition – A...
Category:  

Refrigerators and Healthcare Providers – What Is The Connection?
Category:  

Pharmacists, Doctors, Dentists – Use Direct Mail Marketing To Pr...
Category:  

Use Psychology To Keep Patients Returning To Your Healthcare Bus...
Category:  

A New Magnetic Direct Mail Product Especially For The Healthcare...
Category:  

How Does Laser Eye Correction Work?
Category:  

Trade Show Emporium Partners With Denver's Better Business Bure...
Category:  

trade center business classified global B2B marketplace
Category:  

Male Yeast Infection- Are You The Victim Or The Villain Of This ...
Category:  

You Can Get Your Ex Back: Why You Need to Move On Now?
Category:  

Oklahoma vs. Texas Tech
Category:

Webers Law

A change of stimulus is more emotional and motivational, according to the base: Most subjects tested would drive across town to save $10 on a $20 item, for example, but not to save $10 on a $500 item. The lesson for sales people? If you won't lose a sale on a thousand-dollar couch over $10, sell the other benefits of the couch in your sales pitch.

Familiarity Fallacy

Economic choices are often made due to familiarity, even when the choice is clearly worse ("But I always shop there!"). This bit of research shows the need to get a customer used to coming to your business. If they are comfortable, they won't expect or demand the best deal.

Anchoring

In tests, mentioning the year 220 A.D., versus 1600 A.D., resulted in earlier guesses when people were asked for the birth date of Ghengis Khan. This was true even when the comment was in no way related to Khan. This tendency to "anchor" was found in the economic realm as well. Mention $300 as the value of an item, and subsequent negotiation or discussion will revolve around that.

The implications are obvious, and are being studied. It seems an item should be worth a certain amount to a particular customer, but humans are never so logical in valuing things. Why can you get $99 for an e-book online that has roughly the same content as a $10 book in the bookstore? Is it partly due to the "$500 value" thrown out there for the book and "bonuses." It makes $99 seem cheap, doesn't it?

There are reasons people buy that go beyond any of the reasons given. Rationalization seems to rule over rational thought. I'll cover more of the research into behavioral economics in part three.

ABOUT THE AUTHOR