I was in the beverage aisle of Target today and I noticed something interesting:
The packs of RedBull were on sale. But with a non-congruent pricing structure. The two choices on sale were 4 packs and 12 packs, priced at $5.99 and $18.99 respectfully. This got me thinking… how many people fall for this trick? $1.02 more for the convenience of buying one box, instead of 3? Do people not know math anymore?
Illogically Logical
This pricing structure is genius. Target must make a ton of extra cash on people’s inherent laziness to logically think situations like this through. And I’m willing to bet this strategy is carried throughout the store and undoubtedly the bulk of shoppers will not catch this price difference. (note: I’ve seen this gimmick many times in other stores as well)
Symbolically, this has many underlying themes applicable to your business. As you are pricing your service or products, think about what you could do to cash in on laziness. Or how a little convenience may be consciously or subconsciously worth extra to them. And most importantly, always remember:
Most buyers do not think logically.
