Most retail outlets tell customers an item's original price, in addition to the sale price, to get customers to believe they are getting a good price. Retail managers are using which of the following heuristics?
A) The availability bias.
B) The representativeness heuristic.
C) The anchoring and adjustment heuristic.
D) All answers are correct.

Question

Quizplus · Accepted Answer

Retail managers are using the anchoring and adjustment heuristic by presenting the original price as an anchor, influencing customers' perception of the sale price as a good deal by adjusting from that initial reference point.

Most Retail Outlets Tell Customers an Item's Original Price, in Addition