Price and Behaviour

I noticed a funny thing. Sometimes I choose to buy a product because it costs more than alternatives. I do this for a number of reasons, but something tells me that one of the reasons is really really good marketing.

Lower price vs Higher price

But despite this silly behavior, I still more likely to buy a product if it’s offered at a lower price, rather than a higher one. I guess that’s why rewards, discounts, and similar types of incentivization will never go away as this is a part of our intrinsic motivation. Analyzing many data points available just continues to prove that.