Price like Wal-Mart?

Will Keller has a great post up on his Accounting Blog disecting WalMart’s pricing strategy:

WalMart goes to great lengths to have an alluring and unbeatable opening price point item in each category- from TV sets to cosmetics to bathing suits. These are the "unbelievable" prices that the company has become famous for (for example, a microwave oven for $14.67). The psychological impact of this opening price point is huge- consumers are led to believe that all of WalMart's prices are this low. However, the reality is quite different. As confirmed in interviews with former store managers, WalMart does not have the lowest price on every item in every category. In fact, the company often has higher prices than other big retailers (i.e. you might get a better deal down the road at Target). However, in most cases the game is already over because consumers believe that WalMart's prices are lower across the board. Furthermore, evidence shows that most shoppers don't even buy the opening price point item. Instead, the low price lures them into the department, where they end up buying a brand name or higher quality item that they are more comfortable with. (emphasis added)

That’s pretty powerful stuff.  The price gets customers in the door, but they don’t even buy the products whose price brought them there.  Anyone out there using this strategy with success among professional service providers?