In both Decoy Marketing and More Decoys: Compromise Marketing, I wrote about how adding an item to a lineup of products could increase sales. In the former, the “decoy” was a product that was less attractive than another product but priced the same, or almost the same. This caused sales of the more attractive product to jump, perhaps because it looked all that much better by comparison to the similarly priced but less attractive product.
Now, researchers at the University of Minnesota have used brain scans to show that it’s easier for people to make a decision when a third product option is present vs. choosing between just two possibilities. […]