Fictitious promotions work because people love to feel like they got a deal. In one common type of fictitious promotions, a retailer raises the price of an item just before a sale and then “promotes” the product by claiming the original price is now the sales price. The Wall Street Journal article entitled “The Dirty…
For many years, my routine was a Sunday hike followed by a Sunday blog. For a variety of reasons, both my hiking and blogging have become erratic. After skipping yet another Sunday hike, I was surprised to find that I still had exceeded 10,000 steps per day for the past week. 10,000 is the number…
Whenever plans don’t work out the way someone expects them to, I’m reminded of the cobra effect. Coined in a book written by the late German economist Horst Siebert, the cobra effect is a cautionary tale of unintended consequences during British rule in India. The British government was concerned that venomous cobra snakes were common…
People seem to be obsessed with executive tenure. Executive search firm Spencer Stuart reports the average tenure for a Chief Marketing Officer is now 45 months, based on analysis from the top 100 advertised brands. This is a significant improvement from five years ago, when studies showed that the average CMO tenure was anywhere from…
With a final score of 43-8, Super Bowl XLVIII was widely considered to be not very super. To give you a sense of how non-competitive the game was, consider these two facts: The Seattle Seahawks spent a Superbowl record 59 minutes, 48 seconds in the lead. In other words, they scored 12 seconds into the game…
What would get people to reuse their towels in hotel rooms? The answer might surprise you, as it’s not saving the environment or saving money. People are more likely to reuse their hotel towels if they are told that everyone else is doing it. This variant of the ‘keeping up with the Joneses’ effect seems…
If want to hear lots of specific details about a TV show you missed, you may be better off asking a shy person rather than a loudmouth talking about it in the break room. According to Dutch scientist Camiel Beukeboom, introverts use more descriptive and concrete language than extroverts. Extroverts are far more likely to…
Remember the invisible gorilla video? In an experiment popularized by the book of the same name, volunteers were told to keep track of how many times a basketball was passed between players. While the ball was being tossed, someone in a gorilla suit walked between them in plain view. Very few people noticed the gorilla because…
The science of subtle signals suggests what you say is less important than how you say it. Mark Buchanan is a theoretical physicist who writes about how physics can be used to understand biology, economics, psychology and other social sciences. His book, “The Social Atom: Why the Rich Get Richer, Cheaters Get Caught and Your…
In sports and in gambling there is a mistaken belief that a player who is performing better than normal will continue to play well, even if the odds suggest otherwise. This belief is especially strong in basketball. Players who have made several shots in a row are considered to have a “hot hand” and encouraged…