When jewellery shop, De Beers, suggested a months salary should be spent on engagement rings back in the 1930s, they created an anchor for consumers behaviour when ring shopping. This led to a certain value being attached to engagement rings before a consumer has even seen their preferred ring.
In the final episode of series one of our behavioural science podcast Behave!, author of the Choice Factory Richard Shotton and our head of behavioural planning Will Hanmer-Lloyd go beyond pricing, discussing how brands should tie this in with framing and storytelling in order to change consumers perception of quality and value.
Check out episode eight of our behavioural science podcast, ‘Beyond pricing – the importance of framing for brands’, here!
That’s a wrap… for now! Subscribe to Behave! to keep up to date with our future podcasts.
Author: Jess Huntrods - Marketing and New Business Executive
