Value Proposition
A statement that explains the unique value a product or service provides to its customers, differentiating it from competitors.
16 topics found for
“customer choice”
Mid-Tier Value
A pricing strategy that offers a middle option with substantial value at a moderate price, often perceived as the best deal by users.
Zero Price Effect
A phenomenon where people perceive an item as more valuable when it is free, leading to an increased likelihood of choosing the free item over a discounted one.
Choice-Supportive Bias
The tendency to attribute positive qualities to one's own choices and downplay the negatives, enhancing post-decision satisfaction.
Choice Paralysis
A situation in which an individual is unable to make a decision due to the overwhelming number of options available.
Diversification Bias
A cognitive bias where people prefer a greater variety of options when making simultaneous choices compared to sequential choices.
UBP
Unique Buying Proposition (UBP) is a statement that highlights the unique benefits and value a product or service offers to customers.
Decoy Pricing
A strategy where an additional, less attractive option is introduced to make other pricing options look more appealing, often steering customers towards a particular choice.
Goldilocks Effect
The psychological phenomenon where people prefer options that are not too extreme, but just right.