The power of the price tag.

@Lore2009 (7378)
United States
July 19, 2011 5:26pm CST
I did a yard sale over the weekend and we decided to make a "Free" box. Before we made that "Free" box we talked about how maybe we should just charge people a penny for the free things. So we tried it out by putting "Everything one cent" and then NOBODY went near it. But EVERYONE went to the "Five Cent" box. We talked about how interesting that is; how people will be influence by how much things are even if they are cheaper. Another time, my friend put out his mattress with a "Free" sign outside his home and then nobody took it. He took off the "Free" sign and then, now, somebody took it. How much do people get influence by the price tag? The worth of something is always different in another perspective. Thoughts?
8 responses
@Awinds (2468)
• United States
19 Jul 11
When people see something that is free, their first reaction is "what's wrong with it?" They assume it is trash not worth picking up. However, if the object is just laying there, this physiological repellent is absent and they get the thrill of the steal - or just think they have saved themselves a lot of money by picking up a nice mattress. People also assume that low price means low quality. The items are "trashy" in their minds and will make them look trashy too. Strange isn't it. How people buy of assumption and cheat themselves at times?
@Lore2009 (7378)
• United States
19 Jul 11
Exactly. People are so funny and economy is so fascinating in that sense.
@Awinds (2468)
• United States
19 Jul 11
I wonder how it would effect the economy if people were more willing to accept free things and cheap things...
@swirlz (3136)
• Philippines
20 Jul 11
There would be lesser trash on the streets and more trash inside homes, since no one's throwing anything away. It's like everyone's a pack rat.
@rameshchow (4426)
• India
24 Jul 11
Price tag is compulsory to indicate the rate of the particular thing in any shop. But in most shops it will not done. This is wrong.
@celticeagle (159318)
• Boise, Idaho
20 Jul 11
I would think people would atleast be curious. I guess it depends on the people and what's for sale. I was thinking which I would venture to the cent or five cent box. I don't know that I would either. Most people don't carry pennies so probably they felt they were getting gipped and would have to buy several items to make it worth their while. My ex used to through pennies away.
@inertia4 (27961)
• United States
23 Jul 11
I think people are greatly influenced by price tags. After all we live in a society that created us. We learned how to spend and look at things. When we see something for free, we automatically think, that can not be possible. Society puts a price on everything we do anyway. I have not been to a yard sale in years. I would like to go to another one. Maybe she the heat cools don, I will look around. I am not influenced by price tags.
20 Jul 11
on these situations you can usually see either how shallow a person is or how little time he finds to think things over (in my opinion its the same)...the price tags are there to speed up our buying routine, so that we don't have to think about the worth of something but have it prescribed by someone who spend some time estimating its value...if we did not have price tags it would require some thinking to estimate how much we would like to pay for it, now we need only to decide between a simple Yes or No which is easier on the brain and quicker, but unfortunately dumbs us down in the long run...most people will never take the things labeled as free since they think it must be junk, if it had any value we wouldn't be giving it away for free... which ultimately is a shame, since a lot of great things are given for free but our western culture has to put a price tag even on these, so that its easier for shallow peopl to estimate their worth and label them as less-worthy than other...
20 Jul 11
the power of the price tag helps much mostly to department stores and even merchandise and other forms of business. Without price tags maybe some of the goods and products of their business will not be distinguish
• United States
19 Jul 11
Hmm I never looked at that way but I have to agree that if it is too cheap they probably question the authenticity and or the quality. In other words if it is free that has to be something wrong with it. But then to take it without a sign on it maybe that way they get the thrill of taking something that was not given to them for free. This is interesting test you did here and I will have to explore it more as it intrigues me.
• United States
20 Jul 11
I think if you charge more for something, people will be willing to spend what they have on it. With sales, if you charge less for something at a reasonable price, people will still be willing to pay for it. That's why so many stores and retail chains hold sales to see how much they can sell.