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Decoy Effect: How Apple Makes Their Expensive Product Appealing by Using a “Bait”
Aug11

Decoy Effect: How Apple Makes Their Expensive Product Appealing by Using a “Bait”

For those of you who run a business, setting the price for a product is a double-edged sword issue that is always tricky to get right. Making it cheap will attract consumers, but would result in a paper-thin profit margin. Making it expensive can bring in more money, but it will be much harder to make the product appealing to your targeted audience. So, it must be puzzling to see how bigger brands like Apple can sell their pricey...

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