Influence of Price Anchoring on Consumer Behaviour | Bhaskar Shejwal | TEDxVITPune

Описание: Bhaskar Shejwal in this talk, delves into the psychological phenomenon of anchoring, where people rely heavily on initial information (anchors) to make subsequent judgments and decisions. He begins by engaging the audience in a simple numerical experiment to demonstrate how initial numbers influence final estimations, showcasing the anchoring effect in action.

He then discusses anchoring in the context of market behaviour and consumer psychology, explaining how initial price offerings can significantly influence buyers' perceptions and decisions. This concept is an integral part of behavioural economics, a field that combines psychology and economics to understand complex buying and selling behaviours in the market.
Throughout his talk, Bhaskar enriches his narrative with diverse examples and real-life experiments.

A notable instance involves participants estimating Mahatma Gandhi's age at death, a scenario chosen to demonstrate how anchoring transcends different contexts and influences decision-making. These examples serve as practical illustrations of the anchoring concept, making it more tangible and relatable for the audience.

He also speaks about the role of mood, cognitive abilities, and personality traits in susceptibility to anchoring. For instance, people with certain personality traits, like high neuroticism or agreeableness, may be more influenced by anchoring.

In conclusion, Bhaskar emphasizes the importance of being aware of and understanding anchoring effects. He suggests that developing marketing intelligence, critical thinking, and analytical abilities can help individuals make more informed decisions and avoid being unduly influenced by initial information. The talk concludes with him underscoring the inevitability of anchoring in decision-making, advocating for a balanced approach that acknowledges the influence of anchoring while striving for informed and rational decision-making.


Prof. Bhaskar Shejwal is currently the Professor Emeritus in the Department of Psychology at S.P. Pune University, where he has taught for over 30 years. His extensive expertise and research in the disciplines of personality and stress have led to the publication of more than 50 research papers at national and international conferences. Prof. Bhaskar specializes in Industrial Psychology and has provided consulting services to numerous corporate and state organizations, including established corporations such as Mahindra & Mahindra Nashik and the Reserve Bank of India. This talk was given at a TEDx event using the TED conference format but independently organized by a local community. Learn more at https://www.ted.com/tedx