Get the answers you need at Westonci.ca, where our expert community is always ready to help with accurate information. Join our Q&A platform and connect with professionals ready to provide precise answers to your questions in various areas. Connect with a community of professionals ready to provide precise solutions to your questions quickly and accurately.
Sagot :
Decoy pricing tactic calls for offering three similar products, one that is lower priced and less attractive and two that are comparable but more expensive.
What is decoy pricing?
A price strategy called decoy pricing aims to "push" customers to make a decision. Customers sometimes have to choose between products with varying costs and features while making purchases. And when a business seeks to increase sales of a certain product, it frequently chooses what is known as a decoy pricing structure to sway the consumer's choice. In this instance, the "decoy" is either a product with a slightly cheaper price but much worse quality, or a product with a significantly higher price but slightly greater quality.
The attraction effect and the compromise effect are the two distinct effects on which the decoy pricing strategy is predicated.
Learn more about pricing tactics with the help of the given link:
brainly.com/question/25716956?referrer=searchResults
#SPJ4
We appreciate your visit. Our platform is always here to offer accurate and reliable answers. Return anytime. We appreciate your time. Please revisit us for more reliable answers to any questions you may have. We're glad you chose Westonci.ca. Revisit us for updated answers from our knowledgeable team.
