Businesses often use "decoy pricing," where they introduce a third, less appealing option to make one of the original choices more attractive—a psychological trick to nudge consumers towards the higher-priced item. For instance, a small coffee might be $3, a medium $6.50, and a large $7. The medium looks overpriced, pushing customers to see more value in the large. Ever noticed such a tactic during your shopping experiences or in your own business strategy? Share your insights with us!
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