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Matt Cumming Category
The New Psychology Empowering Sales and Future-Proof Brands
By: Matt Cumming on: Apr 29,2010 In: Business Development, Matt Cumming BEHAVIORAL ECONOMICS
Key Points:
1. Choice depends solely on consumer perception not actual quality
2. Perception depends on how an object is described
3. People don’t consider objective reality, only perceived value
4. Lower reference points (or relative values) increase the perceived value
5. Immediate benefits are more highly valued than future rewards
6. Loss-aversion is a powerful motivator
7. Always present definite rather than possible loss-avoidance or gains
8. Discover [...]
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