business tips

Build Customer Trust and Loyalty

There is a common misconception that every business should aggressively push its products to become successful. Usually, it results in unexpected behavior of all types. For instance, customers become pushy, overly talkative or too agreeable – and make one-time deals. However, businesses can achieve much better results in the long term. Specifically, they can combine …

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Price Impacts Perceived Value

The common rule is: “The higher the quality, the higher the price”. Yet it works backward as well. In the experiment of German neuro-economist Hilke Plassman, participants drank identical wine with different price tags: 10$ and 80$. As the result, the expensive wine “tastes” much better!In short: Price normally triggers the pain area in the …

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