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There's a blog called NeuroscienceMarketing. Don't know if you read it, but every now and then they got some great insights on marketing. The other day Roger Dooley posted a short piece the other day called 'Offer a third choice, boost sales' that made me notice his first post 'Decoy Marketing'.Decoy marketing is about the fact that a brand tend to get better result if you offer your target group three choices instead of two. Roger gives you lots of examples. One of the better one is from a test with subscriptions to the magazine The Economist. In the example two groups of subjects were given the option to choose a subscription. One group was offered two choices. The other one three.Offer A:$59 - Internet Only Subscription (68 chose)$125 - Internet and Print Subscription (32 chose)Predicted Revenue - $8,012Offer B:$59 - Internet Only Subscription (16 chose)$125 - Print Only Subscription (0 chose)$125 - Internet and Print Subscription (84 chose)Predicted Revenue - $11,444Conclusion - The predicted revenue jumped 43% due to the introduction of a third choice.Something to think about for you brand owners out there.Read the full post here,here and here.
