This week’s focus:
Have you ever attended a music concert and seen T-shirts on sale for over $25? How can musicians get away with these ridiculously inflated prices? Emotion can trump logic when it comes to pricing. In other words, the emotional experience of a great performance makes people feel less concerned about price. Fans enjoyed the concert so much that they’ll gladly pay an inflated charge to take home a souvenir to remember their good feelings. The greater the emotion, the less price is an issue.
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