Lelex Prime covers one of the main reasons why Starbucks was able to differentiate itself from all the other coffee companies out there. By understanding the behavioral economic strategies of Arbitrary Coherence and Anchoring, Starbucks realized early on they couldn’t sell coffee…they had to sell a completely different experience. No longer were you ordering coffee, and no longer were you in the same old coffee shop, you were now ordering a “Venti Latte” and in a warm and inviting lounge. They changed the game, and now that you are anchored to paying $5 for a cup of Joe…you can thank them!
Learn more about human behavior and how you can use these insights to create better products and experiences with your brand at https://lelexprime.com/