Chivas Regal Effect
The phenomenon where higher-priced products are perceived to be of higher quality, regardless of the actual quality.
129 topics found for
“consumer markets”
Target Audience
A specific group of people identified as the intended recipient of an advertisement or message.
Product Disruptor
A product that significantly changes the market or industry by introducing innovative features or a new business model.
Brand Gap
The difference between a brand's desired perception and the actual perception held by consumers.
Product Differentiation
The process of distinguishing a product from its competitors through unique features, benefits, or branding to attract and retain customers.
Brand Extension
The practice of using an established brand name to introduce new products or services.
Anchor Pricing
A pricing strategy where a high-priced option is introduced first to set a reference point, making other options seem more attractive in comparison.
Denomination Effect
A cognitive bias where people are less likely to spend large denominations of money compared to an equivalent amount in smaller denominations.
Bundling Bias
A cognitive bias where individuals evaluate the value of bundled items differently than they would if the items were evaluated separately.