2 solutions: Small: $3 Large: $7 Customers' choices indian mobile number went towards the small package, considered a good compromise. The experiment was repeated by inserting a third proposal into the menu: Small: $3 Average: $6.50 Large: $7 If initially the desire was to choose a package that was a middle ground between those proposed, the public perceived the third proposal as extremely convenient. With only 50 cents more they could buy the large package. Once again, the decoy effect (the asymmetric proposal) succeeded in pushing people to purchase the more expensive product. Find out more about the great communicative power that videos have by also reading the 6 ideas we have proposed for creating fun videos to promote a restaurant on social media .
The reference price and the perceptual contrast Starbucks Perceptual Contrast Let's now look at other pricing strategies similar to the decoy effect. Let's start with the reference price or perceptual contrast. This technique leverages the behavior of the human brain, which tends to evaluate the price of an object differently if it is presented alone or immediately after another has been shown. Let's take a simple example. If you look at a shop window and see a sweater priced at €100 and another, similar one, at €50, you tend to consider the first price high. If, however, another sweater is displayed next to the first one at €200, your perception changes.