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Can you explain what anchoring is and how product marketers can use it in their work?

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2 Answers
  1. Bhavika Thakkar
    Bhavika Thakkar

    Microsoft Sr. Director of Product Marketing & Growth- Copilot | Formerly Adobe, GoDaddy, Xero • Jun 3

    Price anchoring is the idea that people evaluate price relative to the first number or reference point they see. In product marketing, that “anchor” can shape whether a product feels expensive, fair, or like a great deal. For example, a $30/month plan may feel expensive on its own, but reasonable if it is positioned against a $100/month an alternative such as hiring someone, or a higher-tier plan with more advanced capabilities. Product marketers can use anchoring in packaging, pricing pages, la ...Read More

    771 Views
  2. Alex Chahin
    Alex Chahin

    Uber Director, Global Head of Rider Product Marketing | Formerly Lyft, Hims & Hers, American Express • 4y

    Picture this: You’re working on the merchandising team at Williams-Sonoma, a home goods store that sells things like upscale kitchen appliances, utensils, and cooking supplies. Your boss has just asked you to figure out how to sell more breadmakers, which are appliances that mix the ingredients, form the dough, and bake it all in one. Many people enjoy fresh-baked bread, but not many people have the time or patience to make it, so the convenience of it makes it interesting for the brand to push ...Read More

    1,608 Views

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