The Attraction Effect Explained - Whiteboard video

Описание: The Attraction Effect Explained with a White board Video.

Imagine that you have a day off and you are going on a bike ride. After cycling for a while you stop at the shop to eat a well-deserved ice cream.
Once you are in the shop you have the choice between a cone with 2 scoops of ice cream or a cone with 3 scoops of ice cream.

The small one costs you 2 dollar, and lets say this is option A and the bigger one costs you 3 dollars, and we call this one option B.
Dependent on how hungry you are and how much ice cream you want, you are going to choose for the small one or for the big one. So let’s assume that there is a 50% chance for each of the ice creams to be chosen.
Now consider a slightly different situation. The same shop offers a third kind of ice cream, option C. This one has only 1 scope and also costs 2 dollar. Ofcourse no one is going to choose for ice cream C because for the same price you can get 2 scopes in option A. But adding that third option can make a big difference in sales volume of the ice creams.

In theory, the 100% market share is divided over the 3 options. But since the choice between ice cream A and ice cream C is so easy and nobody takes the one with only one scope, option A steals the market share from option C. This is why we call option C the dominated alternative. What means that now the market share is 33% for option B, 66% for option A and 0% for option C. This effect is called the ATTRACTION EFFECT.

The attraction effect does almost always work, but researchers found a simple trick to make it work even better.

When choosing a product to buy, consumers have a certain frame of mind that they use to make a decision. When a frame of mind is made more forward-looking at the point of purchase, so with a focus on the future, the attraction effect will influence the behavior even more.

The frame of mind can be made forward-looking by simple things like raising awareness of the time to ship an item, or stressing how many time need to pass before the consumer can actually enjoy the pleasures of your product.

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