When you step into flower shop, you will see a wide array of bouquets made with different flowers such as Roses, Hydrangeas and Lilies. As you looked around, you see this flower arrangement that takes your breath away. When you asked our raffles place florist how much it is, he tells you that its price tag is SGD 80 dollars. When you hear that, the next question will naturally be, is this a good or just price to pay.
Some florist may say…
Some of the things that florist will tell you will be that the flowers are imported, fresh and of utmost quality. However, we know that it still does not really answer the question of whether it is a good price to pay.
Even looking at other flower shops and the prices they charge does not provide that good an indication either. We have been to the websites of Floralgarage, Windflower and Fareast Flora and honestly, there are no big price variations as far as flower bouquets are concerned. Some are definitely cheaper than others but if you have taken a liking for a particular bouquet, that happened for a reason and you may be willing to pay slightly more for it. The only ambiguity about that is how much more.
Delving into psychology
Part of this question depends in part on whether you are shown one product or multiple products. According to a psychology study, people have different budgets when they assess two products separately. Yet, when a comparison is made, the budget that they have can actually differ from the initial assessment.
In the experiment, there were three groups of study participants. The first group was presented with a new dictionary while the second group was shown an old dictionary but with twice the number of entries. The first group offered $24 for the new dictionary whereas the second group offered $20 for the older dictionary.
As both the first and second group were controls, the third group was exposed to both the new and old dictionary. This prompted a comparison between both products which led to the valuation of the new dictionary to fall to $19 and the old to rise to $27 dollar.
Comparison creates context
This is an interesting observation as the existence of two similar products that differ on the number of entries made participants evaluate the situation based on the amount of value that they can get from the dictionaries. Hence, they were willing to pay more for the older but more robust dictionary and less for the new one.
Without the comparison, the number of entries that the dictionary has, holds no value to the participant’s mental model and is hence treated as discarded information.
Due to the need for a context when trying to figure out if a price is acceptable, florist often elaborate beyond the positive characteristics of a flower arrangement and emphasize on the fact that a bouquet like this will have cost much more if you had gone to other flower shops.
However, such attempts to provide an advantageous context can easily be manipulated if you are a first time flower buyer or if you do not have as much information as the florist. Hence it is always better to do a little homework.
Here are some tips for you to make sure that you will never pay the wrong price for a flower bouquet.
Look at the bouquet objectively and price it according to your budget
Similar to the first two groups of participants, you can opt to listen to that objective voice inside you and just purchase the bouquet based on your assessment of how much value it can give you and your loved ones. This is a good gauge especially for bouquets that first catches your eye. On a subconscious level, you are drawn to this style of floral arrangement and that means that you may have picked up some of the likes and dislikes of your loved ones without even realising it.
Doing a little bit of homework
Before ordering a flower delivery in Singapore, it may be best to just type in the words flower delivery singapore and check out what the alternatives are. That way you know what to benchmark the bouquet that you see in the shop against. Do make sure you compare the prices too. It will be unfair to compare a $35 bouquet with say a $120 bouquet as the latter has a wider selection of flowers and thus is a better canvas to incorporate lovely designs. However, if the difference is less than $40 dollars, then it may be a difference in skill that you are paying for.
It is never easy to know what is the right price for a flower bouquet as the value one gets from flower arrangement is very much in relation to the person whom you are gifting to. It is not a dictionary which has a fixed number of entries which you can count objectively. That said, there are still apply some of these concepts to better ascertain the value that you are getting from your flower purchase.