Which major retailer pioneered the 'Good, Better, Best' pricing strategy that leverages price anchoring psychology to guide consumers toward mid-tier products?

Pricing strategies are a fascinating aspect of retail marketing that blend psychology with economics. One particularly powerful technique used by major retailers is called 'price anchoring.' This psychological tactic influences consumer perception of value and can significantly impact purchasing decisions. Test your knowledge about this subtle but effective pricing strategy used by some of the world's most successful companies.

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General Electric
Apple
Walmart
Amazon