consumers respond to decoys

16% chose the cheaper option, and 84% chose the better option In a famous study, completed in conjunction with the Economist magazine, Professor of Psychology at Duke University in the United States, Dan Ariely, tested 100 students as follows: Group 1 This group was presented with two purchase options: The web edition of the Economist […]

16% chose the cheaper option, and 84% chose the better option In a famous study, completed in conjunction with the Economist magazine, Professor of Psychology at Duke University in the United States, Dan Ariely, tested 100 students as follows: Group 1 This group was presented with two purchase options: The web edition of the Economist only for 50 cents a day; or The web edition with the weekend print edition for 50 cents per day   Group 2 This group was presented with the following three options: The web edition of the Economist only for 50 cents a day; or The web edition with the weekend print edition 50 cents per day; or The web edition and a copy of the print edition daily for $1.00 per day  The findings were as follows: Group 1 Web only – 68% Web and weekend print – 32%   Group 2 Web only…

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Five Tips For Reducing
The Cost Of Branding.

Burning money on branding is more common than most marketers think. Because few businesses truly understand what a brand is and how branding works, advertising agencies, branding agencies and design studios have become expert at spending their client’s money without effective accountability.

Burning money on branding is more common than most marketers think. Because few businesses truly understand what a brand is and how branding works, advertising agencies, branding agencies and design studios have become expert at spending their client’s money without effective accountability.

1. Get out of the boardroom.

Perhaps the two most concerning issues about branding are the lack of understanding about what brand and branding are and the propensity to develop brands in the boardroom, perhaps with the help of a consultant.....

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