Style Tips - Goldilocks Pricing

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  1. sunforged profile image72
    sunforgedposted 4 years ago

    Noticed some threads referencing yet another limitation on earning potential -thought this would be a good share...

    http://www.digitalimagemagazine.com/blog/wp-content/uploads2009/2009/07/goldilocks-price-tags.jpg

    Why you should be wary of advice that suggests you limit product selection/presentation...

    "Three is the magic number

    Although in the children’s story Goldilocks is confronted by three options the pricing technique doesn’t necessarily have to be limited to that number..."


    http://shortboredsurfer.com/2010/09/und … ks-effect/


    and/or

    "In marketing, the decoy effect (or asymmetric dominance effect) is the phenomenon whereby consumers will tend to have a specific change in preference between two options when also presented with a third option that is asymmetrically dominated. An option is asymmetrically dominated when it is inferior in all respects to one option; but, in comparison to the other option, it is inferior in some respects and superior in others. In other words, in terms of specific attributes determining preferability, it is completely dominated by (i.e., inferior to) one option and only partially dominated by the other. When the asymmetrically dominated option is present, a higher percentage of consumers will prefer the dominating option than when the asymmetrically dominated option is absent. The asymmetrically dominated option is therefore a decoy serving to increase preference for the dominating option. The decoy effect is also an example of the violation of the independence of irrelevant alternatives axiom of decision theory."

    http://en.wikipedia.org/wiki/Decoy_effect

    (if that as a mouthful .. there are pictures on the wikipedia article) and some more general thoughts here:

    http://uxdesign.smashingmagazine.com/20 … eb-design/



    Good Luck!

    1. WryLilt profile image90
      WryLiltposted 4 years agoin reply to this

      Great advice as always!

  2. WriteAngled profile image82
    WriteAngledposted 4 years ago

    Why am I not surprised that the Hubpages poobahs fail to consider what normal people want.

    When I read about a product class, I want to know the range of products with respect to price and features.  If an article provides me with reviews and comparison of five, ten or more products, I am far more likely to go through to a sales page on the basis of what I read.

    Once again, a knee-jerk reaction that does not take into account what real people want.

    1. Will Apse profile image92
      Will Apseposted 4 years agoin reply to this

      I'm afraid you have missed the point of the changes. Product comparisons will continue as normal.

      It is the long lists of products that are barely related to the pages that will shrink down.

      Google sent out spam warnings around those pages. HP have no choice but to react.

  3. RachelWesley profile image90
    RachelWesleyposted 4 years ago

    Perfectly said!

 
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