At the ParkNShop online store, the price of 8kg pack of premium Thai fragrant rice is HK$107.90. Which bias in consumer thinking explains why ParkNShop did not price the rice at HK$108?
A) Sunk-cost fallacy.
B) Status quo bias.
C) Anchoring.
D) None of the above.

Question

Quizplus · Accepted Answer

The price of HK$107.90 is likely set to take advantage of the anchoring effect, where consumers perceive prices just below a round number as significantly cheaper, even though the difference is minimal.

At the ParkNShop Online Store, the Price of 8kg Pack