Decoy Effect: Sell Bigger And Better

decoy effect and pricing strategy image
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 one product over another. What Is The Decoy Effect? The decoy effect, also known as the asymmetrical dominance effect, is a scenario where a...
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