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Arcane

Hey, I'm on Medial • 1y

Mind Games: The Decoy Effect 🧠💡 Ever feel like a third option makes one of the original choices suddenly more appealing? There's a reason for that: the Decoy effect! Here's how it works: ⭐ Imagine you're choosing a phone plan: * Option A: 2GB data, unlimited calls, $40/month * Option B: 5GB data, unlimited calls, $50/month ⭐ A decoy option (C) is introduced: * Option C: 1GB data, limited calls, $45/month ⭐ The decoy is clearly inferior to Option B (target) in all aspects. ⭐ But, the decoy is only slightly inferior to Option A (competitor) in data but cheaper. ⭐ Suddenly, Option B seems like the better deal compared to Option A! This is used in marketing & pricing strategies to nudge your choices. Be aware of this next time you're faced with multiple options, and make informed decisions based on what truly matters to you! Share your experiences with the decoy effect! 🤔🛍️

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Replies (2)

Anonymous 1

Hey I am on Medial • 1y

Same thing happens with coffee size options.

1 Reply

Anonymous 2

Hey I am on Medial • 1y

Look at all subscriptions offered by OTT. They follow similar patterns

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