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Decoy pricing
Evgenyeva, Ekaterina
Evgenyeva, E. Decoy pricing. Master thesis. Brno: Mendel University, 2019. This diploma thesis deals with the cognitive bias Decoy pricing, which is currently the subject of interest for companies working in retail. The tenets of the decoy effect on consumer behavior are analyzed in detail in the literature review, the findings of research and experiments are also taken into account in this part. The analytical part of the thesis is focused on exploring the connection of respondents choice with respect to generation, gender, product group and other variables. After determining the general conclusions resulting from the questionnaire survey and the compiled Logit models, attention is paid to the generation Z. The eye-tracking experiment extends the boundaries and possibilities of the research, showing values that cannot normally be found. Heat maps are compiled, the area of interest and the stimulus analyzed. The results of the experiment are appended by in-depth interviews with respondents, which are full of unexpected findings and discoveries. The final part compares the results with the information and experiments described in the literary overview of this thesis. Based on the results of experiments and findings, there are made recommendations for companies that decide to use the pricing strategy of Decoy pricing on the Czech market.
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Decoy effect and its use in marketing
Regnerová, Eva ; Vranka, Marek (advisor) ; Rosenfeldová, Jana (referee)
This bachelor thesis examines decoy effect, a phenomenon of behavioral economics. Above all, it focuses on the asymmetrically dominated effect. The main objective of the thesis is to review recent research dealing with the decoy effect and analyze the possibilities of its use in marketing practise. The thesis consists of theoretical and empirical part. In the first chapter of the theoretical part the principle of the decoy effect is generally explained and its possible modifications are described. The second chapter characterizes the asymmetrically dominated effect, the primary type of the decoy effect. There are discussed possible explanations and limits of the effect. In the chapter there is also described wide scope of experiments testing the effect. Special attention is drawn to the use of the asymmetrically dominated effect in marketing communication. The empirical part is then formed by replication of an experiment focused on the general validity of the asymmetrically dominated effect. In this section the importance of replication of experiments is briefly explained. The results of the original experiment were not replicated. But the results of the experiment showed the asymmetrically dominated effect significant in some research groups.
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