A $124 Hamburger?! (and the backflip your mind does when it sees this number)

by BenJamin Prater on August 8, 2008

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The human mind makes a leap each time it is shown a product or service that is expensive.

It puts a high value on that object. Whomp.

Watch: when you hear about a $124 hamburger, what is your brain’s first reaction? Is it something like, “Ok, there must be something special about that cow patty.”

And there is. A market won’t allow an item to exist if it doesn’t have strong value for it’s high cost.

The upside is that this allows you to sell your stuff at a premium.

The formula works the other way, too. Slice-and-dice your prices and you could de-value what your offer.

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