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Years ago I participated in a study of what was termed "anticipatedAs Andrew has pointed out, there are exceptions. See
value".
In a shop selling "out doors" stuff we marketed a small 1 cylinder
outboard motor, just right for a small, 1 - 2 man fishing boat. We
changed the sales price from time to time and recorded the volume sold
at the new price . We found that there was a small price range where
the largest number of motors were purchased. This was called
"anticipated value", or in other words people have a preconceived
price that they feel an item is worth, and if the price is much higher
or lower they don't buy.
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