In B2B marketing, understanding how people think can be a real game-changer. Take the decoy effect, for example—it’s like magic! When you toss in a less appealing third option, suddenly, everyone wants the premium one. Picture this: You’ve got two service plans, but then you add a third that’s just “meh.” Boom—now the pricier plan looks way better, and people start choosing it.
But here’s the real kicker: this strategy doesn’t just apply to service plans or products. You can leverage sub-brands to create this same effect. Imagine launching a sub-brand designed to be the “meh” option. It doesn’t have to be wrong – just not as feature-packed or luxurious as your premium offer. This approach guides customers toward your top-tier products and gives you room to play with pricing, perception, and positioning.
Here is a quick famous example of this effect: The Economist once offered a subscription deal with three options: (1) online access for $59, (2) print access for $125, and (3) both online and print access for $125. The second option seemed redundant, but it acted as a decoy, making the third option (which combined both) appear much more valuable. This effect is a classic example of how a less attractive option can steer consumers toward a preferred choice.
At Mitugo, we’ve mastered the art of crafting brands and sub-brands that influence customer decisions just the way you want. Whether you’re looking to introduce a new sub-brand or refine your current lineup, our experience in brand creation ensures that your offerings are perfectly positioned to drive results. It’s not just about sales; it’s about making your customers see the true value in what you offer.
So, ready to turn “meh” into money? Let’s talk about how Mitugo can help you create the perfect balance of choices that will have your customers choosing the premium option every time.