BackWhen I first started in business, just brimming with knowledge having only recently completed my studies, one of my partners informed me that KNOW WHO is always more important than KNOW HOW. Whilst a little deflated at the time, business life and indeed, life in general has taught me that he was 100% right. When I look ...
MANAGING HUMAN BEHAVIOUR – TIP – 14
The power of ADVERTISING All too often advertising agencies and their clients alike make assumptions about the impact of advertising on consumer behaviour – often without justification. Research undertaken at the University of Minnesota looked at the impact of advertising on awareness and persuasion in the engagement of banking services. This big data research found that: The average ...
MANAGING CONSUMER BEHAVIOUR – TIP 13
The power of THERAPY We often hear people say that they are going to, or have just, indulged in RETAIL THERAPY. But, is there such a thing as retail therapy, and does shopping have the capacity to have a therapeutic effect. This question was recently considered by the University of Michigan. Researcher looked at the impact of shopping ...
MANAGING CONSUMER BEHAVIOUR – TIP 12
The power of SOCIAL It is risky to rely on intuition. It is often not supported by empirical evidence. It is heartening however when it does. Recent research at Stanford University sort the quantify social impacts on purchase behaviour and more specifically to determine whether watching another person make a purchase has a significant on an individual’s ...
MANAGING CONSUMER BEHAVIOUR – TIP 11
The power of CHOICE It is a common misconception that the more choice we give people the better. The fact is however, the research suggest that this is far from being the truth. Consider for example when you go to a Chinese restaurant and there is 700 options on the menu. Does this enhance your experience? No! If ...
