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What is the decoy effect?
The lure effect is also known as an asymmetric advantage. The decoy effect does not force customers to choose between A or B, but the decoy effect will offer 3 options A, B and C. However, the asymmetric state between the additional plan (decoy) will be adjusted. Direct customers to products manufacturers want to increase sales
This “subtle” sales effect can be summed up in one sentence: When faced with so many options, customers are often happy to choose a higher priced product / service without even knowing they have just received a “pickpocket.”
It sounds like a myth, but it really is. If there are only two options, better products / services at higher prices and lower but cheaper products / services, customers tend to convince themselves to choose cheaper products. This is clearly a smart result of personal finance, but at the same time a result that no sales person wants.
That is why “bird of prey” was born. Rather than having only two options, the appearance of a lure would alter the customer’s decision in a way that would be more beneficial to the seller.
How was the decoy effect applied by Bkav and CEO Nguyen Tu Quang?
With the previous generation Bphone lines, Bkav generally only offers customers 1 or 2 options, this year Bphone has 4 different versions for the first time, including Bphone B40, B60, B86 and B86. Can you guess in these versions, what will be the lure and what is the “nail” that Bkav and CEO Nguyen Tu Quang are looking for?
First, let’s look at some specs. Due to the cheap and middle segment, B40 and B60 are inferior to B86 in many points:
– Bphone B40 and Bphone B60 are only equipped with Snapdragon 636 and Snapdragon 660 chips, respectively, for worse performance than Bphone B86’s Snapdragon 675 chip.
– Bphone B40 and Bphone B60 only have a single 12MP f / 1.8 camera, instead of dual cameras like Bphone B86, making it impossible to take “freeze time” photos.
– Bphone B40 and Bphone B60 are not compatible with eSIM.
Then look at the sale price. If only two versions are B40, priced at 5.49 million, and B86, priced at 8.99 million, customers will most likely choose B40 to save 3.5 million. But Bkav deftly installed the B60 with the role of a bird in the middle to bridge the gap between the low and high price models, and helped customers realize just 2 million more (compared to the B60), it may have a smartphone with much more modern technology.
And yet, with two low-cost models, users will have to wait a period of time, that is, until June 17, 2020, the new device will begin to sell. Meanwhile, with B86, customers will receive the device from 5/17, which is approximately 1 month earlier.
A device that is not much more expensive, has more modern technology and does not have to wait, so it is clear that, B86, the price of VND 8.99 million is the product that Bkav wants users to target.
Another interesting point is that in this case study, Bkav not only offered one bird of prey (B60) but also had two birds of prey, increasing the ability to persuade customers to choose B86. Take a look at the highest priced model, the B86. In fact, the B86 have the same configuration and features as the B86, from the chip, the screen, the camera group, the size of the device, etc. The only difference is that the B86 has 128GB of internal memory, which is larger than the internal memory. 64 GB of B86.
At this point, the buyer will begin to analyze and realize: it is not necessary to spend an additional million just to increase the memory capacity. If they wish, they can choose B86, save 1 million, and, if necessary, buy an external memory card to increase capacity.
Thanks to the addition of 2 “birds of prey” B40 and B86, B86 is obviously a cheaper and more reasonable option for customers, according to Bkav management and CEO Nguyen Tu Quang.
Nhat anh
