Power of Being First and How to Tap Its Full Effect
Posted on26 Jan 2015
TagsThe Economist, Fallen Child Analogy, agenda setting, precedence, Velten Mood Induction Procedure, Thoughts, think outside the box, security, price, power, law, history, first, conversation, anchoring
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The power of being first triggers our need for security. This power exerts itself in all parts of our lives, from laws... Read More
Storytelling’s Importance in Business Valuations
Posted on06 Nov 2014
Tagsstorytelling, bricks-complexity analogy, Skoda Minotti, emotional triggers, security, price, law, fiction, business, arbitrariness
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I’ve written much about storytelling’s importance. Yet, I was surprised when I attended a business valuation seminar by Skoda Minotti CPA’s, Business... Read More
Protection from Unwanted Unconscious Influences
Posted on03 Apr 2014
Tagsfree will, inflammatory rhetoric, Twitter, subconscious, smells, sales, price, negative, Influence, decisions, control, anchoring
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Finola Howard (@FinolaHoward), a marketing professional, found my post, “Information You Know Is Wrong Still Influences You,” interesting but wanted to know,... Read More
Objective Value, Experts as Masters of Illusions
Posted on11 Nov 2013
Tagsvalue, value judgments, scientific papers, leadership dark side, The Economist, anchoring, assumptions, attractiveness, Dark Side, men, objective, price, scientific, subliminity, women, experts, Bloomberg Businessweek, Sokal Moment, Joshua Brustein
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Often, when unsure about value, we defer to experts. Experts are often leaders, so they bring leadership’s dark side with them: followers... Read More
Tapping Pricing’s Secret (Pt 2): Setting the Stage
Posted on31 Oct 2013
TagsPlay - Pricing Analogy, Pricing - The Secret Series, personification, storytelling, service, sales, relationships, rationale, product, price, emotions, change, branding, anchoring
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Normally, when pricing our products and services, we research the market, compare our features and benefits, consider our margins and then set... Read More
Tapping Pricing’s Secret (Pt 1): Story, Symbol, Emotions
Posted on14 Oct 2013
Tagsmarketing, emotional triggers, Pricing - The Secret Series, Starbucks, Yahoo!, YinYang, symbolism, storytelling, price, Picasso, labels, Harvard Business Review, decisions, arbitrariness, anchoring
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Tapping pricing’s secret is a battle over establishing the anchor in the consumer’s mind. Unless we are the ones who set the... Read More
Pricing, The Secret
Posted on19 Sep 2013
Tagsanchoring, Dan Ariely, economics, food, Influence, James Surowiecki, neoclassical economics, price, rationale, restaurant, subjective, taste, The Economist, The New Yorker, Tom Sawyer fence painting, values, George Loewenstein, Drazen Prelec, supply and demand, lobster, violins
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The secret to pricing is its arbitrariness, subjectivity. What disrupts this is anchoring, a preconceived benchmark of what should be the price.... Read More
Change Taste without Changing Anything about the Food
Posted on18 Jul 2011
Tagsambiance, brain, cooking, feelings, food, Influence, John Seabrook, message, packaging, people, PepsiCo, presentation, price, problem solving, restaurant, Snacks For A Fat Planet, taste, The New Yorker, utensils
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This post is similar to my previous post about changing the message by how people feel about the messenger. In the case... Read More
Best Service or Best Price: Which Reigns Supreme?
Posted on04 Oct 2010
TagsAre You Being Served, article, assumptions, branding, business, buying habits, competition, customer service, customers, emotions, intuition, James Surowiecki, luxury, market, premium, price, product, quality, status, subjective, survey, The New Yorker
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In the article, “Are You Being Served?”, in the September 6, 2010 issue of The New Yorker, the author James Surowiecki cites... Read More
What Consumer Psychology Teaches Us About Problem Solving
Posted on27 Sep 2010
TagsMichael I. Norton, decisions, drugs, emotions, expectations, goal setting, Harvard Business Review, How Concepts Affect Consumption, intuition, keeping up with the Joneses, low-cost, Dan Ariely, objective, peer pressure, people, price, problem solving, psychology, rationale, rewards, teach, anticipatory, beverages, brain, business, buying habits, change, cognition, competitive, consumer, cost-benefit
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We often anticipate and rationalize people’s decisions using a cost-benefit analysis. This perspective frequently leads to erroneous conclusions and restricts problem-solving capabilities.... Read More
