We judge things relative to nearby alternatives, not in isolation.
More quotesPG Tips did not become cheaper between the two questions. Tesco and Twinings simply took turns standing beside it.
That should make anyone presenting a price slightly nervous. We pretend a number enters the customer’s mind alone, wearing a name badge and carrying objective value. It arrives with company. The neighbouring products, the previous quote, the expensive package at the top of the page and the amount paid last year all lean over and whisper what the number means.
So “Is £2.29 good value?” is barely a question. Compared with what? A pound own-label box makes it look indulgent. A £3.49 alternative makes it look disciplined. Neither judgement needs to be fake. Different comparisons expose different advantages.
Brands should fight for the comparison they have earned. A premium torch can stand beside the cost of replacing three rubbish torches during a blackout. A fast accountant might belong next to the tax and panic they prevent. A £12 cinema ticket competes with two hours of entertainment, not merely another chair in a dark room.
There is a grubby version, obviously: park an absurdly priced option nearby so the merely excessive one appears reasonable. Customers recognise the ruse eventually. Better to change the category by changing the usefulness, audience or occasion.
“Why is that package £900?”
“So the £600 one looks cheap.”
At least the honest answer would make the comparison clear.