Psychological effect

Wonder what I do at business school?

I learned this today, and much more as well.

Suppose you and me own a mall. We use a separate corner or place to show expensive products, so that customers know: "There you've luxury items," which are costly just for the sake of costliness, and not quality primarily. (Yes, it happens, mostly. Especially with perfumes, the same thing costing Rs. 8,000 can be sold for Rs. 100, but for 100 rupees it won't sell as does the former pricing.) One day, we put in the same showcase of expensive items cheap products, not changing price tags, etc. Customers would consider it to be high-quality, expensive items. That's called psychological pricing. Who can deny 'marketers are liars'?

My parents are so proud of me, yet...

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