About the subjective value of money

Money
Photo by: Ryan Hyde

Since I was a child I had a money box I took care of. Each week my parents gave me pocket money, which I put consciously in my money box. From time to time I went to my shelf, where I had located my money box, and shook and weighted it.

Continue reading “About the subjective value of money”

Why do we behave like others, even if we do not agree with them?

behave
Photo by:Beverly Yuen Thompson

In the article “how we conform ourselves to shopping” I described that fact, that we human beings tend to behave exactly as the other people around us, when we are in an unknown or uncontrollable situation. Thus we use them as an informational source.

Continue reading “Why do we behave like others, even if we do not agree with them?”

The 8 most common strategies salespersons use to make you buy

strategies
Photo by:Jem Stone

In this article I want to give you an overview over 8 strategies salesperson use to make your cash flow.

Continue reading “The 8 most common strategies salespersons use to make you buy”

How we conform ourselves to shopping

conform
Photo by: sekihan

Every time I go to make some shopping with my dear mom I observe something very strange. I always thought that it must be a coincidence but it happens every time to us. When we enter a shop my mom`s attention gets captured by different products, so she takes a closer look at those.

Continue reading “How we conform ourselves to shopping”

The price is the essential criteria in buying decisions

price
Photo by: Powhusku

It is November and you cannot oversee it that Black Friday is coming closer. Since last week I have observed that the TV spots are running on the Black Friday offers – especially gadgets.

Continue reading “The price is the essential criteria in buying decisions”

How to use your brand to develop your business

Brand
Photo by:Fredrik RubenssonVon: Fredrik Rubensson

Once you have created a brand, you have three possibilities to grow your business:

Continue reading “How to use your brand to develop your business”

4 ideas in how to position your product on the market

position product
Photo by: allfr3d

In business positioning is very important and an essential part of the branding process. Positioning means to create a product which has special and unique characteristics. It has to be different from what your concurrence offers. The aim is to offer exactly what your customer wishes according to one`s ideal.

Continue reading “4 ideas in how to position your product on the market”

How to apply Pareto`s principle in product branding

Pareto`s principle
Photo by: Scott Thomson

Pareto`principle says that 80% of the effects are caused by 20% of our actions or expressed in another way 80/20. This is not a law, because the quotient can be varied according to our actions. Especially, if we focus on the essential things when we act, a better effect can be caused by fewer actions.  This principle can be applied on many domains like the branding of your product.

Continue reading “How to apply Pareto`s principle in product branding”

Customers associate their self-image with their favorite brand image

self-image
Photo by: Boston Public Library

You want your product to be appreciated by your target customers? If yes, adapt the brand of your product to the way your target customers see themselves.

Continue reading “Customers associate their self-image with their favorite brand image”

5 instruments for testing your product on the market

testing
Photo by: Joan Font Rosillo

In order to get to know what your customers think about your product you should test it before launching. Therefore you can conduct product tests to be able to compare and evaluate product characteristics subjectively.

Continue reading “5 instruments for testing your product on the market”