Latest / Marketing Psychology with Fexingo: Behavioral Triggers, Persuasion, and Consumer Behavior
How Car Dealers Use Price Anchoring Against You
Episode 3 of Marketing Psychology with Fexingo dives into price anchoring — the cognitive bias where the first number you see shapes every decision after it. Lucas and Luna break down how a car dealership's deliberately inflated 'MSRP' makes the negotiated price feel like a steal, even when it's still above market. They walk through the classic Kahneman and Tversky experiment that proved anchoring works, then show how it plays out in real dealerships: a 2023 study found that presenting a $35,000 base price before showing the $32,000 'special price' boosted close…
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