how you are influenced to choose without really knowing it
- Written by Gary Mortimer, Associate Professor in Marketing and Consumer Behaviour, Queensland University of Technology
The decoy effect is the phenomenon where consumers swap their preference between two options when presented with a third option.ShutterstockPrice is the most delicate element of the marketing mix, and much thought goes into setting prices to nudge us towards spending more.
There’s one particularly cunning type of pricing strategy that...
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