The price you get for a product can vary greatly depending on the context. Don't believe this?
Hot dog at a grocery store = $0.62
Hot dog at a gas station = $1.50
Hot dog at a ballpark = $6.00
Most of us are extremely price conscious. We have preset limits we rarely go beyond.
You’d never pay $6 per hot dog at the grocery store. Your pack of 8 weenies would be $48, not $4.99.
However, the context in which we process the price of something we want changes those limits. For some reason, we barely bat an eye at the same product costing 10x in the right context (okay some of us grumble for a few seconds under our breath, but we still ante up and throw our cash on the counter).
Get people to the ballpark before you talk about price!
Contributed by Mark Kosoglow