opportunity 77 of 150 When marketers talk about their ‘craft’ they are most often talking about advertising and media, products and services, sales and pricing. What they should be talking about, first and foremost, is people. Marketing is, or should be, all about people and how they behave. Understanding human behaviour is the key to […]

opportunity 77 of 150 When marketers talk about their ‘craft’ they are most often talking about advertising and media, products and services, sales and pricing. What they should be talking about, first and foremost, is people. Marketing is, or should be, all about people and how they behave. Understanding human behaviour is the key to cost efficient and effective marketing. An interesting quirk of human behaviour is that we respond differently to gifts and cash. This has been called the gift effect. The gift effect recognises the differing impact of a cash reward or offer and a gift. Be careful when searching the gift effect on Google – all of the top listings refer to the ‘gift’ that the Christian God sent his followers in the form of Christ. Many years ago, I was advising a high-end furniture retailer. I observed him sell a lounge room suite one afternoon, and…