“This common pricing strategy is completely wrong!” Robert Cialdini

“Say you’ve calculated your price and it comes out at £120,121.

Most would round it down to £120,000.

That’s completely wrong.”

That’s what Robert Cialdini told me on the latest episode of Nudge.

He also explained why the Prime energy drink first succeeded and then flopped.

How Disney kept us hooked on classic movies.

And how he applies the authority bias to sell his own products.

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Today’s sources:

Cialdini, R. B. (2021). Influence: The psychology of persuasion (New & expanded ed.). Harper Business.

Dunn, E. W., & Norton, M. I. (2013). Happy money: The science of happier spending. Simon & Schuster.

Nelissen, R. M. A., & Meijers, M. H. C. (2011). Social benefits of luxury brands as costly signals of wealth and status. Evolution and Human Behavior, 32(5), 343–355.

West, S. G. (1975). Increasing the attractiveness of college cafeteria food: A reactance theory perspective. Journal of Applied Psychology, 60(5), 656–658.

Wilson, P. R. (1968). Perceptual distortion of height as a function of ascribed academic status. Journal of Social Psychology, 74(1), 97–102.

Worchel, S., Lee, J., & Adewole, A. (1975). Effects of scarcity on value perception: The cookie-jar study. Journal of Personality and Social Psychology, 31(5), 791–799.