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When Framing Goes Bad.....

Sure, looks like the management team for this pub group doesn't know much about prospect theory! According to prospect theory, consumers view gains and losses quite differently. The basic takeaway from prospect theory is to always try to frame things as a GAIN for the customer rather than a loss (as in framing it as a higher price).

And, here's their justification....

Stonegate Communication (Table Tent on Bar Counter):

"Polite Notice: Dynamic Pricing is currently live in this venue during this peak trading session. Any increase in our pricing today is to cover these additional requirements:

-To ensure we have enough staff so you are served quickly

-Additional door staff for your safety

-Satisfying and complying with licensing requirements

-Extra cleaning routines and use of polycarbonate glasses

Thank you for your cooperation!"

Don't know about you, but this isn't very convincing!

How about saying the prices during the busy periods are the regular price and their are lower prices during other times? That would probably work a lot better. What do you think?

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