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Today we’re breaking down the Decoy Effect, we explain what the Decoy Effect is, why the Decoy Effect works psychologically, and why it broke the brains of decision scientists when it was first discovered. Then I'm walking you through The Economist full story because you can use it to model your own marketing and pricing. After that, we'll look at how Apple has weaponized the Decoy Effect across their entire product line in a way that most people never notice. We’ll look at the original 1982 study that started it all. Beer, cars, restaurants, and TVs Then we’ll wrap up with the three ways to use the Decoy Effect so you can add it to your marketing playbook. Where Else to Listen to the Marketing Podcast Please follow the MARKETING Podcast so you don't miss any episodes. You can also listen to the MARKETING Podcast on any podcast player...search "Marketing Brandon" and look for the blue podcast cover that says, "MARKETING". About the Marketing Podcast The MARKETING podcast brings you marketing science, case studies that reveal successful marketing techniques and teach strategic marketing analysis where we model the data and turn it into financial forecasts so you have predictable revenue.Your host Brandon White has over two decades in marketing from building his first company on solely organic SEO to working in marketing at America Online in the early days of the Internet. Brandon can't promise you instant marketing success after each episode. But...he guarantees that you will find each MARKETING episode always reliable, always actionable, and always useful for your marketing efforts.