I wonder how many people actually believe ads like these.
No idea, I always just ignored that ‘suggested price’ thing on those tags whenever I came across them. I think I just figured it was one of those things that only meant something to a select few people, like the people stocking the shelves or something along those lines. Sorta like the style number that’s printed on the shirt tags.
We work retail. Of course we know what it’s about. But, WE aren’t the target market for that kind of thing.
That kind of pricing (or just about any other kind) is for those people who want “proof” that they:
a) can buy without feeling buyer’s remorse because the sales are good or
b) are seeing transparency behind the prices.
And tags like this really do work on a lot of people.
The masses are stupid in general and have no idea what “MSRP” even stands for. They can’t even point out the US on a world map, for crying out loud!
That’s why this tactic works on them. “Oh, this bigger price is the original price! Since it’s on sale, I’ll take two.” Yet they don’t realize… anything. This is why people in general frustrate me.
Lighten up, Dude! Customers don’t have to know what MSRP is. Just as you don’t have to know the jargon of a field that you aren’t in. They aren’t stupid “masses;” they’re individuals who know what they need to know (and MSRP isn’t part of that).
Yes, “they” are frustrating to retail sales personnel, but “they” are a frustrated “us” at any given point.
Good point. Thanks for the wake-up call, Kendra.
Sorry for ranting. I just haven’t been myself lately. Hard to think straight. I don’t know what’s going on
MSRP has never struck me as anything other than a tool to facilitate deception.
Don’t tell me what to perceive, Stuart.
I’ll perceive you! *fistshake!*
When a customer would ask me was the advertised product REALLY worth the msrp I would tell the the truth that the product they were looking at is now more realistically priced. But as one person put it, we who are or have been in retail know this.
The manufacturer suggests that we have a lot more money than we actually do. Is there anyone out there who would actually pay this artificially inflated figure for anything?
When i worked for Sears, they tried ESDP (Every single day pricing) where every day it was on sale. They closed for a half day so they could “re-price” everything with lower prices. But not everything was lowered. For example, a drill would be reduced but the drill bits would actually increase. Needless to say, this was an epic failure and they dropped the ESDP within 6 months.
Where I worked, all of the tags had a “Compare at” price, and they were true. Our customers even knew how much they would have paid if they had bought them across the border, where they lived.
The grocery stores do that here all the time. The thing is, they don’t compare the same things. If Safeway says you’ll save money on the Kraft Mac-n-Cheese compared to Fred Meyer or Albertson’s, you can bet Freddy’s will say you’ll save money on the Pepperidge Farm cookies over Safeway or Albertson’s, and of course, Albertson’s will ask you to compare the price of their Bisquick to the other two. Depending on what you want, you’ll save money at all three – except for the gas it’ll take to get to all three!
Saw one sticker at Kroger which claimed you could save two, count ‘em, TWO! cents on a bottle of salad dressing as compared to at Publix.
LOL Well, it’s still a savings – and some people will pinch those two pennies until they (the cents) scream.
It’s all about knowing your prices. Some people do, and they do well. Others… well… stickers like this are built for them.
Exactly. Thank you.
What I really hate is when the mark something UP and then back down to the original price and try to make people believe in the ‘saving’. And do not even get me started on “SCP” (Shrinking Contents Phenomenon”
Even as a kid in the 50′s I noticed the cardboard trays stayed the same size, but the candy bar was getting smaller and smaller.
OK I’ll be the first to admit it. Until I worked my first retail job, I was one of the people fooled by the MSRP. It wasn’t until I was stocking for the first time that my manager explained it to me. Boy, I lost a lot of my naivete at that job.
My Dad told me a story of his days as a stock boy in his home town back in the early 1950′s. Sugar was $0.45 a bag (I forget the weight). The store ran a sale where 2 bags were only $1.00. He was restocking the shelves all day because people were buying so much sugar.
A summary of the main points in “The Psychology of Persuasion”:
• Reciprocation: Consider the in-store wine tasting, or the free scone at the coffee shop. We think we’re coming out on top, but the expectation to give back is strong within us, and leads us to buy something.
• Consistency: We like to see ourselves as consistent souls with unwavering beliefs. So if you ask me to publicly declare my devotion to animal rights, for example, I’m more likely to donate money to PETA later.
• Social Validation: Rugged individualist fantasies aside, we are more likely to do something if we see that many other people like us have also done it.
• Liking: If you like someone, you are more likely to say “yes” to her request. If she is pretty, you’re even more likely. And if she compliments you, well, that works, too.
• Authority: Four out of five dentists recommend using the reassuring gloss of authority to sell this toothpaste.
• Scarcity: Anyone who has grabbed a plain, overpriced t-shirt from another’s hands at a “one-day-only” sale understands how persuasive limited-time and limited-quantity offers are.
Most sales and sale pricing focus around variations on the last theme.
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