Page 96 - Kai Coder News Today : Breaking News, Live Updates & Top Stories | Vimarsana
Stay updated with breaking news from Kai coder. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Top News In Kai Coder Today - Breaking & Trending Today
That is something that scientists call the price quality heuristic. and that means that not only the high quality influences the price, which is how we usually think about the world. no, the price also influences the quality perception, and that has been shown in a number of incredibly interesting studies. for instance, it s been shown that the same wine tastes better if it s designed to be expensive. also, painkillers. the placebo effect of a painkiller is much stronger if you label that painkiller as an expensive painkiller as opposed to a cheap painkiller. and kai, what do you think about companies using shrinkflation? you know, keeping prices the same, but making the product smaller? i mean, is that effective? shrinkflation is effective. depends very much on the ....
Accepting of rising pricesjust because of all the information about inflation that we we re constantly hearing about? yes, absolutely. 0ur minds adapt very quickly to new situations. and a very important concept in that respect is anchoring. so if i am getting used to high numbers, also my price perception goes up and i am more much more willing to accept high prices. however, one problem from the corporate perspective is that if you train your consumers to become bargain hunters, it s very hard to retrain them to accept high prices. well, kai, economics would suggest that we we would always choose the best value. but that s that s not always the case. i m wondering, do consumers find reassurance in higher prices? indeed. ....
I mean, is that effective? shrinkflation is effective. depends very much on the perceptual threshold. so for example, in weight, if i compare two weights, i need at least two grams of difference for 100 by 100 grams to perceive that difference at all. now, over time, that becomes more so i maybe forget that last week, you know, that carton of milk or that little piece of tea or so was slightly heavier than this week. so companies understand what the perceptual threshold for the different units is, they have good chances to make shrinkflation successful. kai, are retailers, are they nervous about raising prices? oh, yes. ....
And, buckingham palace has invited more than 850 community and charity representatives from across the uk to attend the coronation of king charles, which will take place on the 6th of may at westminster abbey in london. you re watching bbc news. now its time for talking business. hello, everybody. a very warm welcome to talking business weekly with me, aaron heslehurst. let s go and take a look at what s on the show. the cost of living has been going through the roof, but can it possibly go up even more? and do prices ever really come down? we re going to be looking at how those prices get set and what goes on behind the scenes between growers, suppliers and the shops themselves. i m going to be discussing all of that with this crack team. there they are. commodities expert kona lasker haque can tell us where the markets think prices of raw materials are heading. kai markus mueller, who s the neuroscientist who gives us the psychology behind the way shops ....
Indeed. that is something that scientists call the price quality heuristic. and that means that not only the high quality influences the price, which is how we usually think about the world. no, the price also influences the quality perception, and that has been shown in a number of incredibly interesting studies. for instance, it s been shown that the same wine wanted the same wine tastes better if it s designed to be expensive. also, painkillers. the placebo effect of a painkiller is much stronger if you label that painkiller as an expensive painkiller as opposed to a cheap painkiller. and kai, what do you think about companies using shrinkflation? you know, keeping prices the same, but but making the product smaller? ....