Wednesday, 23 January 2008

How much should you charge ?

Recent research has shown that, in some situations, people actually like to pay more !
The study was based on peoples preferences for the taste of different wines. Using a technique which lets us see which parts of the brain are most active at any time it was found that the 'pleasure centre' in the brain was more active when people where drinking more expensive wine.

Not surprising you might say, as more expensive wine usually tastes better ?

The twist in the tail (or should that be the twist in the corkscrew ?) was that the wines apparent prices had all been mixed up randomly, so there wasn't any real connection between displayed price and quality of the wine.

So when you are next setting some prices, bear in mind that your customers might well be happier if you charge them more !



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