Placebo Marketing

Market research isn't nearly as exciting as scientific research: we don't get to electrocute people in focus groups for example ...

Here is an interesting study testing the impact of prices on people's pain thresholds. All done under carefully controlled laboratory conditions (so don't try this in the viewing facility).

The fact that consumers will associate higher prices for pain killers with better pain reduction (even when they take placebos) really does beg the question how far you can go with your pricing strategy. But be sure to do the research first, of course: white coats are optional.