powerful heuristics make your customers biased

300 attacks in 1972 down to 75 attacks in 2017  There is a myth propagated by the media and self-serving politicians that terrorism is a bigger problem in 2020 than it has been at any time in history. As a result, there is a view in the broader community that we are at higherr risk […]

300 attacks in 1972 down to 75 attacks in 2017  There is a myth propagated by the media and self-serving politicians that terrorism is a bigger problem in 2020 than it has been at any time in history. As a result, there is a view in the broader community that we are at higherr risk of a terrorist attack in 2020 than ever before.This is an excellent example of the availability heuristic. In 2017 there were 80 terrorist attacks in Europe compared with 300 terrorist attacks in 1972.Heuristics are processes or methods that enable a person to discover something for themselves. Tversky and Kahneman identified three heuristics Availability Representativeness Anchoring and adjustment  The availability heuristic involves making decisions based on the ease of bringing something to mind. This demonstrates the human propensity for drawing conclusions from whatever is top of mind – including media reports.The representativeness heuristic involves making a decision by comparing the present situation to the most…

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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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