This study classified decoy alternatives into four regions (RA region, LA region, RR region, and LR region) based on the position at which decoy alternative(s) are added (to the right or left of the target alternative) and their form (asymmetrically dominated alternatives [ADA] and range-inferior alternatives [RIA]), and examined how the relative market share of the target alternative is affected by the distance and frequency of decoy alternative(s) from the target alternative within each region. Hypotheses were formulated that the attraction effect would occur due to the range-frequency effect at the perceptual stage when ADA(s) are added in the RA region, and due to the frequency effect at the perceptual stage when ADA(s) are added in the LA region. Additionally, hypotheses were established that the attraction effect would occur due to not only the range effect at the perceptual stage but also the compromise effect and the substitution effect based on similarity at the choice stage when RIA(s) are added in the RR region. In contrast, hypotheses were formulated that when RIA(s) are added in the LR region, only the compromise effect and substitution effect at the choice stage would produce a negative attraction effect, unlike in the other regions. The test results showed that although some of the hypotheses proposed in this study were not statistically significant, the findings largely followed the predicted directions and were generally supported. Finally, marketing implications of the research findings, as well as the limitations of this study and directions for future research, were discussed.