Sales and promotions

Anchoring

Anchoring

Recognize when a retailer is using anchoring to make discounts seem more attractive by comparing the original and sale prices.

Similar Situations

Osborne Effect

Osborne Effect

E-commerce sales strategies: Balancing pre-release promotions with the need to maintain sales of existing products.
Fundamental Attribution Error

Fundamental Attribution Error

Sales and negotiation: Knowing the fundamental attribution error can help you better understand the motivations and actions of potential clients or partners during sales and negotiation processes.
Minto Pyramid

Minto Pyramid

Sales pitches: Following the Minto Pyramid can help you structure your sales pitch in a way that is persuasive and effective.
In-Group Favoritism

In-Group Favoritism

Sales and negotiation: Knowing in-group favoritism can help you better understand the motivations and actions of potential clients or partners, avoiding bias in favor of certain groups.
False Consensus Effect

False Consensus Effect

Sales and negotiation: Knowing the false consensus effect can help you better understand the motivations and needs of potential clients or partners, avoiding assumptions based on your own preferences.
Barnum Effect

Barnum Effect

Sales pitches: Be aware of how salespeople may use flattering, broad statements to create rapport and influence your decisions.
7-38-55 Rule

7-38-55 Rule

Sales Meetings: Persuading clients by emphasizing non-verbal communication to build trust and demonstrate enthusiasm.
Peak-End Rule

Peak-End Rule

Sales pitches: Highlighting the most appealing features of a product or service and concluding with a compelling call-to-action.
Optimism Bias

Optimism Bias

Career decisions: Knowing optimism bias can help you make more informed choices about job opportunities or promotions by considering potential risks and challenges.
Pessimism Bias

Pessimism Bias

Career decisions: Knowing pessimism bias can help you make more informed choices about job opportunities or promotions by considering potential benefits and successes.