The Contrast Principle - Episode: 12 - a podcast by Prashanta Deb

All right All right what’s good everyone? This is your host @thebeardlesslad and welcome to another episode of thebeardlesslad Audio Experience.
I am so grateful to announce that thebeardlesslad Audio Experience has been downloaded over 1000 times, doesn’t sound like a lot but imagine 1000 real people listened to your voice somewhere in the world, that’s 1000 new connections that you have just made. There’s something more fascinating that I just found out couple days ago. Thebeardlesslad Audio Experience has been streamed in over 43 countries.
I mean, like, WOW.

While starting out, I wanted to build an audience, but I never really was focusing on getting heard in so many countries. But it’s a plus after all. Here’s to a million more streams of thebeardlesslad Audio Experience. And, let’s get to 50 countries, it’s 43 now, because I think it would be really cool. So, I really appreciate you for sharing the podcast with your friends.

*HOOK*

We are continuing from where we left off last week. Remember the jewelry store owner? Who sold the jewelry for twice the price that she was not being able to sell at the very first place.
Well, he got benefited by accident, but now we all know how the expensive = good stereotype works. Even the store owner started to use this theory on the vacationers, and as you guessed it, he enjoys huge profit margin by doing so.

And, we are victims of these stereotype too, as if it is ingrained in our DNA.
Do you remember seeing a price comparison in any website or store that you visited? Or maybe some salesman tried to sell you something along the lines of, the price was X before, but now it’s Y.
All it says is, it’s a process of how people perceive information psychologically. So, we gotta ask ourself this question, how can we take this piece of tried and true weapon of influence, and use it to sell our own product or service.

Now, let’s talk about another weapon of influence, it is called “The Contrast Principle”
In this principle, we sell the expensive thing first, to set the mood, to communicate with the buyer that this is the price is for what you are getting. But, if you don’t like it, there’s always a less expensive product that I can find for you.
This is the contrast principle, we also call it “a downsell”.

Imagine a salesman trying to sell you a $495 suit, but you don’t want it, so he can now show you a $95 sweater and instantly it sounds like a better deal then the suit. You will save $400. But if the salesman started with the $95 sweater, you might have just said that it’s too expensive and you would have no chance in buying a $495 suit. You already think you are being charged too much.
The contrast principle is also used in Real Estate a lot. Realtors use this setup houses which are not intended to be sold, but to get in the prospects head. They use an inflated price for the setup house and show the prospects a Real house later which he intends to sell. This is done because, after getting shocked after hearing the price of the first house and not even liking it, they tend to like a house which is nicer and lower in price


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