Anchoring Bias – Marketing Psychology

By | 2017-08-13T07:08:04+00:00 August 15th, 2017|Categories: Marketing|Tags: , , |

Anchoring bias is the human tendency to rely very heavily on the first piece of information (the anchor) offered when making decisions. This occurs in all of our decision making including purchase decisions. Once the anchor is in place, buyers decisions are then made by adjusting the initial anchor number, regardless of the legitimacy of the actual anchor number.