Something You Probably Never Realised
I’m sure we’ve all been on many long journeys within the UK where a stop at a service station has been the highlight of the trip. If it wasn’t the highlight, you’ve obviously never travelled from Manchester to Cornwall with a fetid panting dog resting on your lap. I’m also sure you’ve probably had a right good rant at the ‘extortionate’ prices being charged, be it by WH-Smith, Costa Coffee or KFC. Suddenly three chocolate bars for a pound looks a lot better than one for a pound. The question most people will ask is why are prices a lot higher at service stations? We, the consumers, are supposedly acting as rationally as possible, yet this question is only asked as a result of undetectable subconscious mechanisms. Ladies and Gentlemen, I introduce you to anchor prices. You’ve probably already met them, you just have never realised. Continue Reading
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