Brand Strategy Tips – 1. Attractive Pricing [Video]

#brand #strategy Tips – 1. Attractive #pricingstrategy

Setting the mid-price close to high-priced products is a classic strategy in sales and consumer psychology known as the decoy effect or asymmetric dominance effect. Here’s how it works and why it’s effective:

By setting the mid-price close to high-priced products, businesses can leverage consumer psychology to drive sales, enhance perceived value, and increase overall revenue. This strategic pricing taps into natural human tendencies, making it a powerful tool for marketers and sales professionals.