The same approach can be used to communicate initial product value

Brand & Marketing

The same approach can be used to communicate initial product value. Steve Jobs used anchoring during the launch of the Apple iPad to such effect. At one of his fames launch presentations, he introduced the “rumoured cost” that was speculated to be $999. This information anchored the press to the notion this would be the high-priced product. However, when Jobs later in the event revealed the iPad to be priced at $499, this “anchoring and reveal” tactic created a notion of value for money.

Behavioural principles

Behavioural ideas at play in this post

Short, plain-English explanations of the principles behind this post, with links to related books and examples in the archive.

Anchoring

The first number or idea we encounter pulls later judgments toward it.

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Present bias

Immediate costs and rewards loom larger than future ones.

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Curse of knowledge

Once we know something, it becomes hard to imagine what it feels like not to know it.

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The same approach can be used to communicate initial product value

Behavioural ideas at play in this post

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