An example of _____ occurs when a business introduces an upscale model of an existing product and experiences an increase in sales of the regular product to customers who believe it to be a bargain.

Question

Quizplus · Accepted Answer

This is an example of anchoring, where the introduction of a more expensive product makes the original product seem more affordable in comparison, thus potentially boosting its sales.

An Example of _____ Occurs When a Business Introduces an Upscale