Goldilocks marketing in wine
The psychology of marketing is such an advanced art, that it’s questionable whether we have any free will left – especially when we wander blindly into a supermarket. For hours afterwards, the head is spinning with ridiculous jingles that have brainwashed us into thinking all the food is fresh, for heaven’s sake! The Goldilocks Effect is a very real phenomenon in pricing. Winery X has a wine at $150, and the next one down is $75, which is still damned expensive but may seem reasonable when compared with the $150 bottle. It works with sports shoes, airfares, and pretty much any consumer item. Why Goldilocks? When she was deciding which bowl of porridge to eat, Goldilocks found that one was a bit too hot, one a bit too cold, but the third (Baby Bear’s porridge) was “just right”. Think about it next time you’re selecting a bottle from a restaurant wine-list.