Latest / Marketing Psychology with Fexingo: Behavioral Triggers, Persuasion, and Consumer Behavior
The Anchoring Effect and Why the First Number You See Matters
Lucas and Luna unpack the anchoring effect — the cognitive bias where the first piece of numerical information becomes a reference point for every subsequent judgment. They trace the phenomenon back to Kahneman and Tversky's original 1974 experiments, then bring it into the present with real-world examples: how real estate agents in a 2022 study were swayed by a deliberately random list price, how a Stanford study showed that Amazon reviewers are anchored by the first rating they see, and why retailers like Williams-Sonoma famously placed a $275 breadmaker just to make a $175 model look…
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