Ep 037: Marketing Psychology: Scarcity and Anchoring

Ever wonder why you feel compelled to buy something when it's "limited time only" or marked down from a higher price? In this episode, Branda breaks down two powerful marketing psychology principles that influence consumer behavior every day. She dives deep into how scarcity and price anchoring work, shares practical examples from both online and traditional businesses and provides ethical guidelines to implement these strategies without being manipulative. Whether you're a business owner or a curious consumer, you'll gain valuable insights into these subtle yet effective marketing techniques.Tune in as Branda discusses:How scarcity in marketing drives faster purchasing decisions and perceived value.Ways to implement price anchoring to showcase value and pricing strategy.Important ethical considerations when using these marketing psychology principles.________________________________________CONNECT WITH MELANIE:www.duxburydigital.cowww.instagram.com/duxburydigitalCONNECT WITH BRANDA:www.therelevantcollective.comwww.instagram.com/therelevantcollective