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Professor Priya Raghubir illustrates how businesses use reference points on pricing to influence customer spending behavio

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Excerpt from Business Insider -- "'These are used on price tags, these are used in advertising, this is used inside retail stores on signage — all of which are ways to try and get you to anchor on a particular price, so it is against that price that you would then evaluate the current offering,' Priya Raghubir, a marketing professor at New York University's Stern School of Business, told Business Insider."

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