Consumer Psychology

concept

case

Hundreds of dollars of chocolate placed in the emotional maintenance account during promotion will have a higher purchase rate compared to the living expenses account.

The renovation plan of the decoration company helps customers save several square meters of space = Save money in the house purchase account instead of spending more in the renovation account.

apply

Summary

Mental accounting

Sunk cost

People are more sensitive to the perception of proportions than to the perception of numerical values themselves.

The purchase rate of 200 yuan 4G memory sticks is very low for customers - 4G memory computers cost 4800 yuan while 8G memory computers only cost 5000 yuan.

Using the exchange method to attract consumers' attention to small items with a large price change ratio will make them feel like they are getting a great deal.

Selling cheap accessories together with an expensive item can make consumers feel more value than selling them separately.

The proportion bias

Getting happiness doesn't actually relieve the pain of loss.

Consumers worry about what to do if the furniture is broken when buying it - Provide a 7-day return and exchange policy without reason.

The way of exchanging (trading in old for new) is more attractive to customers than the way of discounts.

Replace the lost expression framework with the acquired one.

Loss aversion

Consumers will use two principles to judge whether the product price is appropriate when they are not sure about the price - avoid extremes and weigh against each other.

Price Anchor

Consumer Psychology