How does Apple employ pricing strategies and the decoy effect?

Registration ID: IJNRD_208421

Published ID: IJNRD2311328

DOI: Click Here to Get

Arnav Addagalla

Behavioural Economics

This paper explores how Apple employs behavioral economics, specifically pricing strategies and the decoy effect, to influence consumer behavior and drive higher sales of its products. It delves into the theoretical background of behavioral economics and its impact on consumer choices. The study also includes a real-world example, analyzing Apple's pricing strategies and how they leverage the decoy effect to nudge consumers into making more expensive purchase decisions. The primary research conducted in the paper highlights how the decoy effect operates in the context of Apple's iPhone models, demonstrating that it can significantly influence consumer preferences. This research showcases the practical applications of behavioral economics in shaping pricing strategies and consumer decision-making, emphasizing its relevance in today's business environment. The paper also discusses the implications of employing the decoy effect in both developed and developing nations and how governments can use behavioral economics to achieve economic goals. It concludes by emphasizing the importance of behavioral economics in business decision-making and its impact on consumer behavior and market dynamics.

Published Paper   E-Certificate

Arnav Addagalla (November-2023). How does Apple employ pricing strategies and the decoy effect?. INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT, 8(11), d288-d295. https://ijnrd.org/papers/IJNRD2311328.pdf

Volume 8 Issue 11, November-2023

Pages : d288-d295

Paper Reg. ID: IJNRD_208421

Published Paper Id: IJNRD2311328

Downloads: 000121989

Research Area: Social Science and Humanities 

Country: Hyderabad, Telangana, India

Published Paper PDF: https://ijnrd.org/papers/IJNRD2311328.pdf

Published Paper URL: https://ijnrd.org/viewpaperforall?paper=IJNRD2311328

Journal Name: INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT(IJNRD)

ISSN: 2456-4184 | IMPACT FACTOR: 8.76 Calculated By Google Scholar | ESTD YEAR: 2016

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