“It’s popular so it must be good/true” is not a compelling argument. I certainly wouldn’t take it on faith just because it has remained largely unquestioned by marketers.
The closest research I’m familiar with showed the opposite, but it was specifically related to the real estate market so I wouldn’t assume it applies broadly to, say, groceries or consumer goods. I couldn’t find anything supporting this idea from a quick search of papers. Again, if there’s supporting research on this (particularly recent research), I would really like to see it.
The fact that almost every price for everything everywhere is like this is pretty compelling evidence that it works.
“It’s popular so it must be good/true” is not a compelling argument. I certainly wouldn’t take it on faith just because it has remained largely unquestioned by marketers.
The closest research I’m familiar with showed the opposite, but it was specifically related to the real estate market so I wouldn’t assume it applies broadly to, say, groceries or consumer goods. I couldn’t find anything supporting this idea from a quick search of papers. Again, if there’s supporting research on this (particularly recent research), I would really like to see it.