The law of demand states that conditional on all else being equal, as the price of a good goes up, the demand for it goes down and, conversely, as the price of a good goes down, the demand for it goes up. And logic dictates that’s exactly what should be happening. But of course it’s not (at least, not all the time).
To understand the environment around us, we need information. Our brain seeks it all the time, desperately trying to make sense of every situation. Attempting to gather as much as possible and analyze the situation as quickly as possible, it makes our judgement prone to mistakes. Here we’ll explore these mistakes and draw some conclusions for marketers as well as other interested individuals.
Until recently, in terms of the history of science, it’s been assumed that people act generally rational when making decisions. Especially, if these decisions involve spending hard-earned money. It was believed by both economists and your neighbours (if they had ever been asked) that people make decisions based on their attitudes, that they reason their actions, that the rules of the market are based solemnly on supply and demand. Now we know it's the opposite.
Quora is a community-fueled question-and-answer site. It's as straightforward as it gets: after registering a profile, anyone can ask a question and anyone can answer one. Questions range from relationship advice to feminists of the Second World War and have everything in-between. How can it be useful for us marketers?
Let's find out.
After reading some alarming articles online, I’ve decided to download everything Facebook has on me, report back to you, and make sure all of us know the real risks and how to deal with them. Then I did some research and found ways to limit the data we're exposing to Facebook and third parties. Want to find out more? Dig in!
Did you one day find yourself writing posts for Facebook and Twitter, promoting products, services, and events? Are you not really sure how to make people click links or at least pay attention to your product announcements? Then this post is for you.