Psychology of Pricing: The Decoy Effect

Have you ever thought of pricing beyond cost + margin?

Did you ever notice the way you make decisions by available choices?

Did you ever feel curious when a book judged by its compelling cover became a boring read?

Have you ever thought why a shirt is priced at 2999 instead of 3000?

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Five PRINCIPLES of Ray Dalio You Should Radically Embrace

“The answer doesn’t have to be in your head; you can look outside yourself. If you’re truly looking at things objectively, you must recognize that the probability of you always having the best answer is small and that, even if you have it, you can’t be confident that you do before others test you. So it is invaluable to know what you don’t know. Ask yourself: Am I seeing this just through my own eyes? If so, then you should know that you’re terribly handicapped.” 

i5: What Has Changed in Consumer Decision Making?

Why do we do the things we do? What is it exactly that drives our action? What do we know about our motives? A consumer decision-making journey is not easy to understand. We rarely make rational choices in our lives and our purchases…

Nudged: How Brands Can Create a Difference by Using Behavioural Economics

A nudge is an aspect of the choice architecture that alters people’s Behaviour in a predictable way without forbidding any options or significantly changing their economic incentives. To count as a mere nudge, the intervention must be easy and cheap to avoid. Nudges are not mandates. Putting fruit at eye level counts as a nudge. Banning junk food does not.