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INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT International Peer Reviewed & Refereed Journals, Open Access Journal ISSN Approved Journal No: 2456-4184 | Impact factor: 8.76 | ESTD Year: 2016 Scholarly open access journals, Peer-reviewed, and Refereed Journals, Impact factor 8.76 (Calculate by google scholar and Semantic Scholar | AI-Powered Research Tool) , Multidisciplinary, Monthly, Indexing in all major database & Metadata, Citation Generator, Digital Object Identifier(DOI) |
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| Paper Title: | How does Apple employ pricing strategies and the decoy effect? |
| Authors Name: | Arnav Addagalla |
| Download E-Certificate: | Download |
| Author Reg. ID: |
IJNRD_208421
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| Published Paper Id: | IJNRD2311328 |
| Published In: | Volume 8 Issue 11, November-2023 |
| DOI: | |
| Abstract: | 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. |
| Keywords: | Behavioural Economics |
| Cite Article: | "How does Apple employ pricing strategies and the decoy effect?", International Journal of Novel Research and Development (www.ijnrd.org), ISSN:2456-4184, Vol.8, Issue 11, page no.d288-d295, November-2023, Available :http://www.ijnrd.org/papers/IJNRD2311328.pdf |
| Downloads: | 000118752 |
| ISSN: |
2456-4184 | IMPACT FACTOR: 8.76 Calculated By Google Scholar| ESTD YEAR: 2016 An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 8.76 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator |
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Published Paper ID:IJNRD2311328 Registration ID: 208421 Published In: Volume 8 Issue 11, November-2023 DOI (Digital Object Identifier): Page No: d288-d295 Country: Hyderabad, Telangana, India Research Area: Social Science and Humanities Publisher : IJ Publication Published Paper URL : https://www.ijnrd.org/viewpaperforall?paper=IJNRD2311328 Published Paper PDF: https://www.ijnrd.org/papers/IJNRD2311328 |
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