As ‘freshers,’ students usually receive discounts encouraging them to try new products. Sometimes, they are even given things ‘for free.’ This happened to me while I was studying for my MSc, when, while pretending to be younger than I was, I was offered a free pizza voucher from Domino’s Pizza. Back then, I thought ‘life couldn’t be better,’ and in spite of queueing for an hour in the heat of September’s sun, I finally got my individual-sized pizza.
What made me exert all this effort just to get a free product? I believe it was the power of the so-called ‘zero price’ effect — a behavioural phenomenon suggesting that people value free items too much.
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