Suppose I give you two pens to choose from. One is clearly better than the other. You will, most probably choose the better one. Now what if I tell you that, no matter which pen you choose, you also get 3 extra pens similar to the bad one. Would these free add-ons make you change your mind and choose the less good pen?
Does this sounds like a crazy question to ask? In a magically short and clearly written paper, Ellen Evers and colleagues show that people do in fact fall for this simple trick and change their mind. The paper provides 4 creative experiments that ask “can forming a good set be a source of economic value in and of itself“?
Below, I have illustrated 3 of their experiments.
These experiments show that fitting in a set can modify our preferences over the set’s individual items. This is important because it can be used to create marketing offers by ‘bundling’ a number of inferior similar items (e.g., 2 for 1 offers) together and exploit the “good set” effect that it creates in costumers without having offered any extra value.
Bahador Bahrami
@mitra_eft this is very interesting indeed. Maybe we can work with your company and do some research on this topic
Mitra
This exact bundling is used in dealing with pharmacies and ends to the replacement of your prescribed brand to the ones they stock as a bundle