Monday, January 14, 2008

Higher Prices Enhance Sales

The Indianapolis Star reports that a study by the California Institute of Technology finds that in a wine-tasting study, changes in the price of the wine changed the actual pleasure experienced by the drinkers, according to MRI results. The higher the price, the more the drinkers enjoyed the wine, even though the falsely labeled "higher priced" vintage was a lower-priced one already sampled.
Could this effect carry over to other products?

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