A pyschologist on the radio said..

[WaterTight]

When dealing with managing likely successes people are cautious, when faced with a small loss or a bigger loss people frequently gamble.

Very interesting.

I wonder how knowledge of this lesser known trait in most people could be used to make them spend more money.

 

[Ermintrude]

Wife's a Clinical pysc. Some of her mates from uni work in advertising. They are very manipulative!

 

[Ray Stafford]

Aversion to potential loss is also much stronger than the attraction of potential gain.

Which is why lots of offers are phrased as "Don't miss out - act today..." instead of "Take advantage - act today".

And the most powerful of all is:

If you offer people two solutions to a problem, they will usually pick the cheaper. This is particularly true of rarely made purchases, where the buyer lacks experience or a fixed expectation of price point.

But if you offer three solutions, they will usually pick the mid-priced one. So it is often worth offering a very high spec solution which you have no expectation of selling, merely to increase the number of mid-priced sales. And if you do sell a few of the gold-plated solutions, then so much the better.

 

[WaterTight]

How could I implement this fiendish manipulation into toilet repair?

 

[Ray Stafford]

How could I implement this fiendish manipulation into toilet repair?

Complete new bathroom £5000
Replace WC with modern environmentally friendly, low water usage WC £500
Fix syphon £50

 

[Ray Stafford]

Perhaps more realistic at a lower level would be:

Refurbish cistern with new fill valve, new flush valve - result has 2 yrs parts and labour on whole thing. £120
Replace faulty syphon only, - limited 1 yr warranty on syphon only £80
Botch up syphon washer - no warranty because the cistern is old and something else is bound to go wrong soon £50

 

[WaterTight]

I'll take the last one. When are you fee?

 

[WaterTight]

And what is your free?

 

[Ray Stafford]

I'll take the last one. When are you free?

April 2057.

 

[WaterTight]

ooh, we could take the hs2