Will become a inspir... • 1m
“Running Out Fast: How Scarcity Sells in the Psychology of Business” The Scarcity Effect is a psychological principle where people place higher value on items that are rare or limited. Businesses use this to create urgency and boost sales. Limited-time offers, low-stock alerts, and exclusive deals trigger fear of missing out (FOMO), nudging customers to act quickly. For example, e-commerce platforms often display “Only 3 left in stock!” or “Offer ends in 2 hours” to increase conversions. Luxury brands maintain exclusivity by limiting product availability, enhancing perceived value. This principle also works in HR—scarce job roles seem more prestigious. By creating artificial or genuine scarcity, businesses can drive faster decision-making and elevate brand desirability.
Business enthusiasti... • 1m
“The Pricier, the Better: How the Veblen Effect Drives Luxury Brand Obsession” The Veblen Effect is a psychological phenomenon where demand for a product increases as its price rises—because the high price signals status, not just value. Luxury bran
See MoreWill become a inspir... • 1m
How Behavioral Nudges Influence Big Business Decisions” Behavioral nudging involves subtly guiding people’s decisions without restricting their choices. In business, it’s used to influence customer and employee behavior through design, defaults, and
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“Silent Signals: How Brands Speak Value Without Saying a Word” Signal Theory explains how people interpret visible cues as indicators of hidden qualities. In business, brands use signals to suggest value, quality, or trust—especially when actual exp
See MoreBuilding JalSeva and... • 8m
A strategy by Gucci's CEO, who reportedly burned $10 million worth of unsold luxury products to maintain the exclusivity of the brand. 🤯🔥 The decision to burn unsold products was part of Gucci’s broader strategy to protect its brand image. By de
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Indian stock market has reached a 7-month low. Along with this, the total value of the stock market has also come below $5 tn for the first time in 7 months. The total value of the Indian stock market was $5.7 tn on September 27, 2024, which came d
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