opportunity 38 of 150 Psychology is the business of understanding and influencing human behaviour. It is through psychology that we understand human behaviour, and it is with that understanding that we are in a position to influence that behaviour. Psychology lies at the heart of great marketing. Understanding why consumers do what they do, and […]

opportunity 38 of 150 Psychology is the business of understanding and influencing human behaviour. It is through psychology that we understand human behaviour, and it is with that understanding that we are in a position to influence that behaviour. Psychology lies at the heart of great marketing. Understanding why consumers do what they do, and how we can make them do what we need them to do, is central to effective and cost efficient marketing. Can the day care effect help us better understand consumers? I believe so! At a day care centre in the United States, the hourly rate was $20.00. More specifically the fee for the booked time was $20.00. If parents were late in picking up their children, no additional fee applied. There may have been a complaint, but no fee when parents arrived 3o minutes late. Fortunately, the number of parents arriving late was low. One…