According to the dictionary definition, marketing is “a business strategy for optimizing profits by adapting the production and supply of goods or services to the needs and preferences of consumers”. To achieve the main objective, that is, sales, there are a series of strategies, tools and tricks that professionals in the field will employ throughout the entire shopping journey . Some of them, we often notice, but others end up going unnoticed. One of those marketing tricks that is difficult to notice is decoy marketing, a technique in which the intention is to make consumers more likely to choose a specific product.
Its objective is to influence the purchase behavior of customers
The products or services that the company is most interested in selling. The intention is not to “push” anything to the consumer, but Building, Hardware, Garden Dealers Email List to present a mix of products that induces the user in a natural way to realize that the product chosen as the main product is the best decision. To make it clearer how it works in practice, we separate as an example the test carried out by Dan Ariely himself for his book “Predictably Irrational”. He prepared two subscription offers for “The Economist” magazine, one using decoy and one not.
Now watch what was done and the results achieved.
First, a traditional offer was presented, two options. One more expensive than the other . Causing the choice of the cheapest option and generating GMX Email List revenue of $8,012. By adding the use of decoy . A third option was created, which did not exist before. Which a promotional thought, in which the person believed that the most expensive option was the most advantageous. Without investing a penny more in marketing and with the same amount of subscriptions . Employing decoy was able to generate $3,432 more in profit. But why do we act this way? A study has shown that when we are faced with two similar options, our body faces similar feelings of irritation.