Recently I noticed that a particular store was having a sale for a particular brand of products. Usually this means the supplier is specifically giving them benefits to help push its products. The noticeable thing was that the store was carrying products where on the items there was a flipping a rim to win type of label in the containers. So, imagine it like a soda where underneath the cap you could find a writing to see if you won or not. In this case it was a $20,000 prize.
Now the funny thing was I guess the store did not update the prices for its old inventory. Basically, they had one side where the items had the new prize rims and the other was old stock. There is literally no difference in the product other than one had the prize potential ad it was like fifty cents more expensive. The interesting thing is people opted to buy the more expensive one too.
Would you buy products that cost more simply for the chance to win? For me it’s usually only if I was debating between getting one item or the other. Example, you feel like eating an apple or an orange. It is interesting from a marketing point of view to see how persuaded one can get with little contests like this even if the odds aren’t so great. It’s almost like convincing people to buy a lottery ticket in this case when they normally wouldn’t have bought one.