Marketing is important to help small businesses expand and increase their visibility. This article talks about the fundamentals of marketing, personal branding, the importance of communication, marketing channels, CATT funnel, and integrated digital marketing.
Decision making can be hard. But, it’s a skill you can pick up and get better at with enough practice. Learn about the 6 thinking hats.
Most of us have experienced losing track of time while shopping. This is because most malls do not have a clock on display.
Shrinkflation is reducing the size or quantity of a product instead of increasing its price. It is a sneaky yet clever way to hide growing prices. So, consumers are essentially paying the same for less of the product.
In mental accounting, we tend to treat money as less fungible as it is. So, when we receive money unexpectedly, we feel like it is something special and are more likely to spend it extravagantly.
The decoy effect is a cognitive bias wherein an unattractive or more expensive option is added to make another option look more favourable. It causes us to spend and consume more than we actually need.
Consumers tend to place a disproportionately high value of the products that they partially created. Under Ikea effect, people value a product highly if they spent time and effort in creating it.