Captive Product Pricing
A pricing strategy where a core product is sold at a low price, but complementary products are sold at higher prices. Useful for designing pricing strategies that maximize revenue from complementary products.
5 topics found for:
“product bundling”
Bundling Bias
A cognitive bias where individuals evaluate the value of bundled items differently than they would if the items were evaluated separately. Important for understanding user behavior and designing effective product bundles and pricing strategies.
Cross-Selling
The practice of selling additional products or services to an existing customer. Essential for increasing revenue and enhancing customer value.
Diversification Bias
A cognitive bias where people prefer a greater variety of options when making simultaneous choices compared to sequential choices. Important for designers to consider user preferences for variety when designing choice architectures and product offerings.
Pseudo Set Framing
The cognitive bias where people treat a set of items as more significant when they are perceived as a cohesive group. Important for understanding user perception and decision-making.