Idea Many marketers understands the idea of “first choice”; that if your product is chosen once, your chance of being selected again greatly increases. This idea is about how that choice works and how you can improve choice architecture to gain a higher likelihood of first choice and subsequent choices, ultimately resulting in higher sales. Background…
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Idea This idea is about the “IKEA effect” and how it can help your business to change the way you think about products and to enable co-creation within the marketplace to achieve a higher valuation of your products. The “IKEA effect” is a cognitive bias that occurs when people place a disproportionate high value to…
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Idea This idea is about how something as easy as changing the frame of reference for a product can achieve a better ROI by delivering a higher perceived value. Have a look at the angry Austrian dairy farmer below (Warning: the video contains profanities): The farmer changes the frame of reference for milk by comparing…
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