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
“The Decoy Effect: How Brands Trick You into Choosing More”
The Decoy Effect is a pricing strategy where businesses introduce a third, less attractive option (the “decoy”) to subtly push customers toward a more profitable choice. It plays on human p
It’s All in the Wording: How the Framing Effect Shapes What We Buy”
The Framing Effect is a cognitive bias where people make decisions based on how information is presented rather than the facts themselves. In business, marketers use this to shape p
Thorndike’s experiment with cats showed how the environment shapes behavior. Cats learned to pull a lever to escape, reinforcing that the most obvious and rewarding option drives choice.
In choice architecture, this applies as:
1. Environment influ
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Only Buziness
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“Brilliance by Association: How the Halo Effect Elevates Brands and Sales”
The Halo Effect is a cognitive bias where our overall impression of someone or something influences how we feel about their specific traits. In business, this plays out when
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“Setting the Stage: How Priming Subconsciously Influences Customer Choices”
Priming is a psychological effect where exposure to certain stimuli influences a person’s response to future information—often subconsciously. In business, priming is used t
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Only Buziness
Business enthusiasti... • 1d
“Set and Selected: How the Default Effect Quietly Influences Customer Choices”
The Default Effect is a psychological bias where people are more likely to go with pre-selected or automatic choices, simply because it requires less effort. Businesses u
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Mehul Fanawala
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Life doesn’t owe you a good day.
It doesn’t owe you a bad one, either.
What it does is present you with reality.
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