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tagged with all of: decision-making + marketing + psychology
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The article explores the psychological phenomenon known as the "Google Effect," which refers to how easy access to information online affects our memory and decision-making processes when it comes to purchasing. It examines the implications of relying on external sources for information and how this influences consumer behavior in the digital age. Additionally, it highlights strategies marketers can use to leverage this effect in their campaigns.
The Endowed Progress Effect explains how consumers are more likely to complete a task or purchase when they perceive they have made some initial progress, even if that progress is artificially created. This psychological phenomenon is leveraged in marketing strategies to enhance consumer engagement and drive sales. Understanding this effect can help businesses design better incentives and promotional offers.
The Region Beta Paradox explores the psychological factors that influence consumer behavior and purchasing decisions. It delves into how people often make choices based on perceived value rather than actual utility, leading to sometimes irrational buying patterns. By understanding these dynamics, marketers can better tailor their strategies to appeal to consumers.