How much does it cost to go up in the Eiffel Tower?
On 1/16/2014 11:33 PM, David Parsons wrote:
It's called a Vleben good. It's worth more to people because you
charge more for it. The same reason why Leica can command a price
premium.
http://en.wikipedia.org/wiki/Veblen_good
On Wed, Jan 15, 2014 at 6:12 PM, Ann Sanfedele <[email protected]> wrote:
On 1/15/2014 12:58, Bill wrote:
On 15/01/2014 10:54 AM, Attila Boros wrote:
The Psychology of Price.
......
It's a well known fact that you can do a blind test where you pour two
glasses of wine from the same bottle, tell a consumer that one glass is
from a 10 dollar bottle and the other is from a hundred dollar bottle
and the person will derive more enjoyment from the glass they think has
the more expensive wine inside.
bill
Bill - that's not actually a BLIND taste test... there _is_ a
market-research term for it I'm forgetting now from my long ago years of
work tabulating opinion surveys.
Oddly, just before reading this post, the item on the nightly news was
of an actual blind taste test about chocolate... in this case (which isn't
usually the way it is done) people were asked which chocolate
piece (of same size and shape) tasted better - The expensive chocolate
or the Nestl'es, Hersheys, or whatever) the interviewer had put the
pieces on different colored napkins and the results were that 50% of the
respondents liked the cheaper chocolate better, from what the news story
said. No opportunity to examine their methods, but it is the
response to people who only think "you get what you pay for" in
terms of product quality...
ann
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