Are referees swayed by loud crowds? | Nudge Newsletter π§
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Nudge Newsletter
I spend 18 hours each week turning marketing psychology into readable newsletters.
Input Bias Read online Does the ππππ¨π«π put into a shop display π’π€π΅πΆπ’πππΊ influence sales? That's what MoralesΒΉ set out to answer in 2005. Participants were shown round the same store, except half saw the shelves π§ππππ₯π² π¬ππππ€ππ π°π’ππ‘ π‘π’π π‘-ππππ¨π«π ππ’π¬π©π₯ππ²π¬. The other participants saw the same products, but with a π₯π¨π°-ππππ¨π«π ππ’π¬π©π₯ππ². The results are striking. Those who saw the high-effort display were willing to pay 24.4% ππππ. After seeing a store display like Boots, customers were willing to pay...
Concrete Phrases Read online Which electric bus would stick in your mind? It's not even a competition. Copy that's easy to visualise is easy to memorise. In 2021, Richard ShottonΒΉ showed participants a number of vague phrases, like 'innovative quality', and then some concrete phrases, e.g., 'money in your pocket'. Shottonβs concrete phrases were 8.6x more likely to be remembered. Richard Shotton's Concrete Phrases Study Heβd proved the concrete phrases' effect, a phenomenon first discovered...
Psychology of Pricing Read online 1) Charm Pricing for High-Quality Products Imagine youβre buying a shatterproof iPhone case Does it matter if it is priced at Β£49.99 or Β£49.95? Well, yes. Apple uses charm pricing but usually ends prices with a 5. Gendall, Fox, and Wilton (1998)ΒΉ ran an experiment with fast-moving consumer goods (fly spray, cheese) and durables (electric kettles). They found that prices with endings in 99 cents are more attractive for low-priced, fast-moving consumer goods...