5 dirty marketing tricks that we fall for in our everyday lives.
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1. False Urgency.
There are two ways this presents itself, either the product is presented as to have a very limited stock, thus the customer must choose to have the product now or never.
Or the product is part of a "limited time offer," again pushing the now or never decision.
This is the most popular trick in the Money Twittersphere
This tries to make the consumer feel like they'll miss out on a great opportunity if they don't buy now.
You see things like:
"14 left"
"Only for the first 5 people"
"For the next 30mins"
"Deleting after 5mins" 😂
2. The "one weird trick" banners.
These are incredibly successful because they got people curious enough to click. Many multi-million-dollar businesses have sprung up by relying on this one weird trick of human psychology.
3. Odd even pricing
Odd-even pricing is a psychological pricing strategy involving the last digit of a product or service price.
It is believed that certain prices or price ranges appeal to a certain set of buyers.
4. The Burger Price.
If there is a small and large size (of burger, let's say) and the small is $2 and the large is $8, most people will buy the small
However, if you add a medium at $7, most people will buy the large because they say "oh it's only a dollar more than the medium
5. False feeling of saving.
Most menus in "nicer" restaurants will have a really expensive option, this isn't actually aimed at getting people to buy that product but to make people think that everything else looks cheaper.
Skip the MBA, follow Elon Musk's idea and read these 10 books instead.
A thread...
1. "Asking the Right Questions: A Guide to Critical Thinking" by M. Neil Browne.
This book “helps bridge the gap between simply memorizing or blindly accepting information, and the greater challenge of critical analysis and synthesis,” according to Amazon.
2. "Organizational Culture and Leadership" by Edgar H. Schein.
A classic textbook on organizational culture and leadership.