The Imperfect Trio?

🚀 How to Make them buy exactly what you want!

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🛍️Make them buy exactly what you want!

📢 Exciting News From Google Marketing Live: Ai-Powered Innovations Transforming Digital Marketing

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🛍️MAKE THEM BUY EXACTLY WHAT YOU WANT!

Today, we will talk about the effect that is one of the reasons most of us have iPhones in the mid-variants.

Nope, it’s not the Decoy Effect! If you still haven’t guessed it!

It’s the Goldilocks Effect!

This principle, suggests that individuals have a natural inclination to seek a balance or Just the right amount. This principle is often applied in pricing strategies, where businesses offer three variations of a product at different price levels: high-end, middle-range, and low-end. By doing so, they cater to varying consumer preferences and capture a wider range of customers.

This is exactly what Apple does! At least they did with the launch of the iPhone 14 Plus! Where the 14 Plus was not that much of an upgrade for existing Apple users and the pro max models are a little extra! Making 14 Pro the perfect hero choice!

Another example is Netflix!

As you can see the sweet spot is the Standard plan where the price actually justifies the features it offers, this is where they’re betting on the extreme aversion instinct, as this drives all of us to choose the most balanced options all the time!

Now here is the one and only thing to keep in mind while using this effect:

Present the imperfect trio!

• Provide an extremely basic option with not much to offer at a lower price, serving as the lower extreme.

• Provide another premium option that offers extra features at an extravagant price, serving as the higher extreme.

• Finally, chalk down the actual option you truly intend to sell! This needs to be right in the middle of both extremes in terms of price and features!

That’s one effect! We’ll see you next Wednesday :)