High Anchoring (High Dopamine Set Point)
What is Anchoring?
Anchoring is the use of irrelevant information as a reference for evaluating or estimating some unknown value or information. When anchoring, people base decisions or estimates on events or values known to them, even though these facts may have no bearing on the actual event or value.
What is High Anchoring? (High Dopamine Set Point?)
High Anchoring or "High Dopamine Set Point" is a neuromarketing term (neologism) created by Russell Wright of Network Empire in order to explain the non-competition phenomenon that comes from proposing a higher vision than anyone else in your niche or industry. The practice of using a very high vision or pricepoint uses the first movers advantage of the common 'anchoring effect' as well - and usually more effectively than the 'Decoy Effect' which targets the middle product instead of the High Dopamine Set Point product. This method is better used for High Dollar Contracts.