Probability Matching
A decision-making strategy where individuals allocate resources proportionally to the probability of an outcome occurring, rather than optimizing the most likely outcome.
763 topics found for
“strategy”
Liking Principle
A psychological principle where people are more likely to be influenced by those they like.
Paradox of Value
An economic theory that explains why some necessities, such as water, are less expensive than non-essentials, like diamonds, despite their greater utility.
Neuroselling
The application of neuroscience principles to marketing, aiming to understand consumer behavior and improve marketing strategies.
Barriers to Entry
Obstacles that make it difficult for new competitors to enter an industry, such as high capital requirements, strong brand loyalty, or regulatory hurdles.
Red Ocean
A market space that is already crowded with competition, where companies fight for market share, leading to intense rivalry and lower profitability.
Bundling Bias
A cognitive bias where individuals evaluate the value of bundled items differently than they would if the items were evaluated separately.
Advocacy Marketing
A marketing strategy that leverages satisfied customers to promote products through word-of-mouth and personal endorsements.
Lead Conversion
The process of turning a lead into a customer.