A lesson in shopping – price targeting
moneyrelations :: Sep.06.2007
I was looking for a toothbrush recently because the blue bristles on my old toothbrush indicated that it was time for a change. I stopped by a discount store to look for a replacement. Usually, I’d walk in and buy the biggest, baddest looking toothbrush available. The most I ever paid for a manual toothbrush was $12. This time it was different because I had just finished reading the “Undercover Economist”. In one chapter, it talks about price targeting – the concept that stores offer similar products at different prices for you to divulge what you are willing to pay. And there on the shelf in front of me, ready to narc me out, was an array of Oral-B and Colgate choices: CrossAction, Pulsar, Massager, 360 and many, many, more. But what about a generic brand? Would it clean my teeth differently? Do my teeth not deserve brand name love? It cost $3.27 for one brand name brush but $2.97 for the store brand. What happens if there really is a cleaning difference and for a measly 20c, I got a cavity because of it? I had never been so indecisive about a toothbrush in my life. The power of a brand name… wow. Finally I said screw it, and bought the Colgate Twister that was on sale for $1.77. A happy compromise.
Shopping ::
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