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Odesa PR and Marketing HUB

19/ 07/ 2023
  On July 19, 2023, the online-lecture-workshop of EBA Odesa PR & Marketing HUB dedicated to encouraging the client to product choosing and role understanding of the «decoy effect» in the consumer choice was held. During the lecture we talked about psychological factors influencing in decision-making, practical advice of «decoy effect» using for business. The invited speaker was Serhii Solovyov - expert on strategic marketing and positioning, founder of the remote marketing department of Solve Marketing and a qualified EBRD consultant. Thus, among the main theses of the lecture the following can be highlighted: Our brain is not able to decide quickly in the situation of choice if only one option is available. Decisions can become predictable with a probability of 70% if the «decoy» is available among the offers. The «decoy effect» for the consumer is based on the principle of imprinting. The main indicator of the imprinting principle among consumers is the comparison of the product with the other ones. A vivid example is the choice of a product that we saw in advertisement recently, this choice is based on the principle of imprinting, our subconscious makes the choice for us because this product is habitual to the subconscious. Also, one of the «decoy» effects is the focus on the purchase of a specific product by the consumer surrounded by many other options, which can be specially added by marketers to create the necessary choice effect. In particular, an additional version of the product is introduced into the assortment, even knowing in advance that it is not aesthetic or does not meet the needs, based on this situation people begin to make a choice between the desired options. Giving people the opportunity to make a choice is a very effective mechanism in healthy consumer manipulation. Today, when the sentiments of the audience is very dynamic, marketers must keep up with the times and adapt to the psychological and physiologic characteristics of people in order to satisfy their needs and obtain their own profit. Also, special attention was paid to the discussion on the goods and services examples of EBA member-companies. We sincerely thank the speaker for the concise and meaningful presentation of the lecture and the participants for the live discussion and involvement!
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On July 19, 2023, the online-lecture-workshop of EBA Odesa PR & Marketing HUB dedicated to encouraging the client to product choosing and role understanding of the «decoy effect» in the consumer choice was held. During the lecture we talked about psychological factors influencing in decision-making, practical advice of «decoy effect» using for business. The invited speaker was Serhii Solovyov – expert on strategic marketing and positioning, founder of the remote marketing department of Solve Marketing and a qualified EBRD consultant.

Thus, among the main theses of the lecture the following can be highlighted:

  • Our brain is not able to decide quickly in the situation of choice if only one option is available.
  • Decisions can become predictable with a probability of 70% if the «decoy» is available among the offers.
  • The «decoy effect» for the consumer is based on the principle of imprinting.
  • The main indicator of the imprinting principle among consumers is the comparison of the product with the other ones. A vivid example is the choice of a product that we saw in advertisement recently, this choice is based on the principle of imprinting, our subconscious makes the choice for us because this product is habitual to the subconscious.
  • Also, one of the «decoy» effects is the focus on the purchase of a specific product by the consumer surrounded by many other options, which can be specially added by marketers to create the necessary choice effect. In particular, an additional version of the product is introduced into the assortment, even knowing in advance that it is not aesthetic or does not meet the needs, based on this situation people begin to make a choice between the desired options.
  • Giving people the opportunity to make a choice is a very effective mechanism in healthy consumer manipulation.
  • Today, when the sentiments of the audience is very dynamic, marketers must keep up with the times and adapt to the psychological and physiologic characteristics of people in order to satisfy their needs and obtain their own profit.

Also, special attention was paid to the discussion on the goods and services examples of EBA member-companies.

We sincerely thank the speaker for the concise and meaningful presentation of the lecture and the participants for the live discussion and involvement!

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