OnDemand WTP Pricing Research

Tag: Decoy Effect

The decoy effect: how you are influenced to choose without really knowing it | The Conversation

The decoy effect: how you are influenced to choose without really knowing it | The Conversation

Price 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 marketers use to get you to switch your choice from one option to a more expensive or profitable one. It’s called the decoy […]

How ‘Decoy Pricing Tactics’ Are Costing You | Canstar Blue

How ‘Decoy Pricing Tactics’ Are Costing You | Canstar Blue

Decoy pricing in action Nine News used common products sold at pharmacies to highlight the issue. A small 31-tablet pack of Blackmores Vitamin C costs $9.49, with the 62-tablet pack costing $16.49. But shoppers only have to pay an additional $3.50 to purchase the 150-tablet pack, making the 62-pack a decoy. “Shoppers are being encouraged […]

Unmasking the Secret Pricing Strategies of 755 Successful SaaS Businesses | BrandMentions

Unmasking the Secret Pricing Strategies of 755 Successful SaaS Businesses | BrandMentions

Half of every business is creating something that people need. The other half is convincing people to buy it. We’re pretty sure you have plenty of ideas for the first part, so we tried to help you figure out the second one. This year, we took the task of seeing how several hundred startups approached […]

SaaS Pricing Strategy: Who’s your Hero? Who’s your Decoy? | CMO-as-a-Service

SaaS Pricing Strategy: Who’s your Hero? Who’s your Decoy? | CMO-as-a-Service

Pricing a SaaS Service is not very different from anything other Software Pricing Strategy. While you want to keep renewal friction at a minimum, all other “rules” of pricing psychology still apply. While most companies out there have intuitively embraced the ‘rule of 3’, I often encounter teams who don’t really know where this rule […]

Pricer’s Points: The decoy effect: Why you make irrational choices every day (without even knowing it) | Kent Hendricks

Pricer’s Points: The decoy effect: Why you make irrational choices every day (without even knowing it) | Kent Hendricks

The decoy effect describes what happens when, while choosing between two items, a third item is introduced that causes you to switch your preference between the first two items. A few weeks ago, I was at a clothing store trying to decide between two shirts. I liked the way one shirt fit, but I liked […]

Decoy Effect: Sell Bigger And Better | TwoFeet Marketing

Decoy Effect: Sell Bigger And Better | TwoFeet Marketing

While most people think that increased time spent prospecting and selling will earn you more profit, the truth is, that there are numerous tactics to profit maximisation. Cost efficiency exercises and rising prices are two, easy to implement, strategies. Another two are pricing strategy analysis and using the decoy effect to encourage customers to buy […]

Decoy Pricing: Secret Strategies Your Competitors Use to Get Customers | Shopify

Decoy Pricing: Secret Strategies Your Competitors Use to Get Customers | Shopify

Everyone’s bought something on a whim because it seemed like a fantastic deal. Make no mistake, the store knows it. The other day I was in a sporting goods store looking for a running shirt. I found one that I liked and went to the dressing room to try it on. It fit perfectly – […]

Buyer Science: Who are They… and What Do They Want? | semrush

Buyer Science: Who are They… and What Do They Want? | semrush

Marketing psychology focuses on human behavior and how it affects marketing decisions. Marketers can use psychology to create a more effective marketing strategy. Behavioral economics is the study of psychological, social, emotional and cognitive factors that influence economic decisions, and how those decisions affect returns on investment, market prices and resource allocation. Together, these two […]

10 Examples of Great Pricing Strategies | uplift

10 Examples of Great Pricing Strategies | uplift

How Best Practices and Psychology Can Help You Optimize Your e-Commerce Website Pricing is something so common and expected that it is almost an afterthought to most buyers – everyone knows they will have to pay for a good or service, it’s just a question of how much.  However, when it comes to sellers, pricing […]

Pricer’s Points | January 2015

Pricer’s Points | January 2015

The “Pricer’s Points” blog series provides a forum for pricing professionals to share their insights and experience. Our guest bloggers share their knowledge about specific product or industry challenges, geographic complexities, strategies, tactics, and technologies. This Edition is Sponsored by: Wiser Wiser provides a complete suite of solutions to give retailers, brands, and manufacturers the edge to […]