the science of pricing: pricing strategies to increase sales
TRANSCRIPT
In a study, were offered 3 types of In a study, were offered 3 types of magazine subscription to 100 students: magazine subscription to 100 students: web ($59), print ($125), print+web ($125).web ($59), print ($125), print+web ($125).
As a result less As a result less print+web subscription were sold.print+web subscription were sold.
Of the two, one is a decoy, and the other is the more attractive choice you wish
for the consumer to make.
Researchers invited real experts and Researchers invited real experts and undergraduate students undergraduate students
to appraise a home for sale. to appraise a home for sale.
The seller listed his house at different prices and as a result both students and experts made different evaluations.
Tests showed that between a premium beer ($2,50) and a bargain beer ($1,80) people preferred the premium beer.
Replacing the super bargain beer ($1,60) with a super premium beer ($3,40), people preferred the premium beer ($2,50).
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