BackINCREASING THE NUMBER OF OPTIONS CAN AND OFTEN DOES REDUCE SALES One of the business myths I like most is the one that suggests that consumers and, indeed, people in general want as many options to choose from as they can get. It turns out that this suggestion could not be more wrong. It is a prime ...
INNOVATE LIKE APPLE OR DIE LIKE KODAK
Name a business that is more than 100 years old. Not many – I am sure! Name a business you know that has realised its potential. Not many – I am sure! Why is this? Why are so few businesses that old and so few have realised their potential. Because there are many more like Kodak than ...
WORDS CAN CAUSE A CHEMICAL REACTION
THERE ARE NUMBERS AND WORDS THAT INFLUENCE BEHAVIOUR CHEMICALLY We have all seen goods and services priced at $9.99, instead of $10.00. I suspect many of us have wondered if this tactic works. Well, the (sad) fact is, that it does work. What is more, it seems to work in part due to a chemical reaction (the ...
THE PRICE IS PART OF THE PRODUCT
THE QUALITY OF A PRODUCT OR SERVICE IS VERY OFTEN DETERMINED BY THE PRICE We have all heard the saying – ‘you only get what you pay for”. To a very large extent this is true. That said, high priced products can be crap and low quality products can be seen as quality, simply because of a ...
WHAT IS IT WORTH?
VERY OFTEN CONSUMERS DO NOT KNOW WHAT A PRODUCT IS WORTH? The value or worth of a product or service is not absolute. It is certainly not set in concrete. Indeed value or worth is very subjective and most often judged in a context. Consider the following experiment! An initial sample group where offered tow subscription options for ...
