Anyone else think that the crazy $10,000/$17,000 Gold "Edition" version is nothing more than price "anchoring"? You know, like when you go to a restaurant and everything looks overpriced until you see that one item on the menu that is crazy expensive? Then everything else looks reasonably priced and you are happy to pay the price, and maybe order a glass or two of wine as well? Price "anchoring" items are never intended to really sell in any numbers. They are there merely to entice you to purchase other over-priced items and potentially upsell from there.
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Apple Watch Edition...price anchoring?
- Thread starter btownguy
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I do not think that was the intent. Price anchoring works when the crazy expensive item is something that could be in your upper expense limit if you really, really stretched or something that is just out of your reach. When an item is priced like the Edition (10x higher than the next option) then the consumer just dismisses it completely as "not for me".
For example, last week I saw that Chrysler has 5 configurations of the 2015 200. The top model with all options added priced out at $38,500. It really made the Sports edition look reasonable and achievable at $32,400. However, if the top model's options brought the price up to $80,000 I would think "not for me" and adjust my thinking to believe there were only 4 models available.