Selling the Unsellable Painting - A marketing lesson

[Scott Ames]

I Stumbled on this site and had to share. The marketing lesson is golden.

A gallery owner is in a quandary. He has one painting that is un-sellable. No one has bought it since past 3 months that it has been on the wall. People appreciate the painting. They praise its vibrant use of colors and strokes. But when they hear its price they shrink away.

People advice the gallery owner to reduce the price of that painting. But the gallery owner doesn’t budge. Instead, he commissions another painter to create a new painting with the same style and colors – but to make that painting on a much bigger canvas.

When the big new painting is completed, the gallery owner showcases it right next to the original un-sellable painting. And values it at almost double the price of the original painting.



Do you know what happens next? The original painting that didn’t sell for 3 whole months is now sold within a day.

People don’t make buying decisions in a vacuum. They compare it with other available alternatives. In this case, they would now gush over the big new painting. But hearing its price, they would balk. Then they would see a smaller painting with similar style and buy that without a further thought.

There are several other marketing lessons on that page. One involves membership pricing.


Source:
Anchoring & Decision Making (Advanced Persuasion Tactics) - Non Toxin

[Loren Woirhaye]

It's sort of a known that if you offer 3 options: a "basic"
a "pro" and a "deluxe" most people will choose the middle
option and some will choose the top option. You'll simply
make more money offering choice.

People but to fit their own desired self-image. The ability
to buy the more deluxe package makes them feels
prosperous and they'll invest to solidify this feeling.
It has to be something they want, of course.

[Ankesh Kothari]

Thank You Scott for linking to that post.

Just got a trackback notice because you linked to it. Which led me to visit the warriorforum after ages and ages!

So Thank You for sending me some traffic and reminding me about the awesome warrior forum.

[Steven Carl Kelly]

Excellent article, and a great reminder.

[Scott Ames]

Originally Posted by Ankesh Kothari

Thank You Scott for linking to that post.

Just got a trackback notice because you linked to it. Which led me to visit the warriorforum after ages and ages!

So Thank You for sending me some traffic and reminding me about the awesome warrior forum.

Hey you are welcome. I loved the article. I found it using Stumbleon .Thanks for publishing it.!