(first posted 4/17/2013) Deception–and self deception–is a very significant factor in the automobile business, maybe the biggest. Unless we buy a stripper Corolla (so conveniently parked here) or the like, we’re happy enough to pay more to feel like we’re not just getting basic transportation, but something that enhances our sense of well-being and social status.
One of the biggest questions for automobile executives forever is how much of a premium folks are willing to pay for that. What’s the upper limit you can charge strictly for the sizzle when there’s no steak? The folks at Ford wondered that too, so they decided to turn this question into a research experiment, using real buyers. The name of the project was called Versailles. Read the rest of this entry »