Anchoring is an ethical manipulation technique that affects consumers’ decision-making process. Anchoring bias is useful for marketing, politics, business, and more.
In the marketing field, anchor bias can be used in three different ways;
The first one is that all the people can make their first impression about a product or brand in a short time. Before the decision starts, the first impression should be stronger. Brands must be creative about logo designs, website designs, brand colors, and brand identities. If a consumer likes a brand logo or brand color in a short time, purchase decisions can be faster and more
The second one is pricing and promotions. For example, one Coke is 1 dollar and there is a promotion package which has 3 coke and the price is 3 dollars. Research shows that many people believe that a package is cheaper than one single Coke. In the marketing field, putting promotions to products can sell more than one single product. Therefore, if a company’s service or product is available for this kind of promotion, it is worth a try.
The last method for using anchoring bias is giving alternative options to the customer. If there are three different offers for one product, consumers cannot be sure about buying the cheaper option.
In summary, how can you use Anchoring for your brand?
For example, Apple knows how to use it perfectly. When we check their online store to buy an iPhone, Apple will ask for a couple of choices.
source: apple.com
First question, which model is best for you? You can see 2 different options and prices are close, especially monthly payments are almost the same. This anchoring effect can push you to an expensive version.
After the selection of a model, Apple asks you for storage. How much space do you need? Many people might be okay with 128 GB. But If there are more options, if all the prices are close to each other, why you should not buy a higher version? This is simply an anchoring effect.
It is completely safe for your brand. Many strong brands have been following this ethical manipulation method for many years, and yes it still works!
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