Today we’re breaking down the Decoy Effect, we explain what the Decoy Effect is, why the Decoy Effect works psychologically, and why it broke the brains of decision scientists when it was first discovered. Then I'm walking you through The Economist full story because you can use it to model your own marketing and pricing. After that, we'll look at how Apple has weaponized the Decoy Effect across their entire product line in a way that most people never notice. We’ll look at the or...
Show Notes
Today we’re breaking down the Decoy Effect, we explain what the Decoy Effect is, why the Decoy Effect works psychologically, and why it broke the brains of decision scientists when it was first discovered.
Then I'm walking you through The Economist full story because you can use it to model your own marketing and pricing.
After that, we'll look at how Apple has weaponized the Decoy Effect across their entire product line in a way that most people never notice.
We’ll look at the original 1982 study that started it all. Beer, cars, restaurants, and TVs
Then we’ll wrap up with the three ways to use the Decoy Effect so you can add it to your marketing playbook.
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