When “the next big thing” is identified—whether it is tulip bulbs, internet technologies, real estate or financial derivatives, market mania is not far behind. And while riding and making a mint from a bubble of “irrational exuberance” is possible, it’s also beneficial to know when to…
Continue reading "Marketing Lessons: Riding Bubbles At Lehman Brothers"Posts Tagged ‘decision making’
Thursday, February 4, 2010
Free Tool For Making Better Decisions
It is great to have so many choices in life… from what to be when you grow up to what cereal to buy for breakfast… lots of choices.
The drawback is that so many options can make decision making confusing, sometimes leading to ‘bad decisions.’
It isn’t a big deal with low-risk decisions…
Continue reading "Free Tool For Making Better Decisions"Wednesday, August 26, 2009
Methods to Systematically Reduce Customer Choice
New research regarding online dating websites shows that when it comes to presenting customers with choices, in fact “less is more.” And while marketers inherently know that too much choice leads to cognitive meltdown, sometimes we’re confounded with the best way to remove options presented to…
Continue reading "Methods to Systematically Reduce Customer Choice"Monday, February 9, 2009
Predicting the Future? Anchor’s Aweigh!
Marketers of all stripes are often tasked with forecasting–sales for next quarter or year, inventory levels to meet demand, or marketing budget to meet corporate goals. However, the process of forecasting is often rife with bias, data quality issues, mathematical error, and/or poor planning…
Continue reading "Predicting the Future? Anchor’s Aweigh!"Decisioning in Volatile Times–Probability, Intuition or Inaction?
No doubt, we live in volatile times. The complexity, interconnectedness and intricacy of global markets is causing executives around the globe to check decisions once, twice and even delay important decisions because they cannot “peer around the corner.” Some marketing executives are asking…
Continue reading "Decisioning in Volatile Times–Probability, Intuition or Inaction?"Wednesday, October 29, 2008
Can Mathematical Modeling Be Trusted?
Mathematical modeling is helping companies across the globe forecast more accurately, optimize supply chains, assess risk, and keep customers from churning to competitors. However, recent market conditions (i.e. credit crisis) have shown that while models can provide an “air of certainty”, solely…
Continue reading "Can Mathematical Modeling Be Trusted?"Tuesday, September 23, 2008
Is the Speed of Decision Making Accelerating?
As the forces of globalization continue to connect and intertwine commercial and financial markets, and new technologies come online in the marketplace, the time between “event” and “action” is rapidly closing.
In the past, managers could take weeks or days to make important decisions, however …
Continue reading "Is the Speed of Decision Making Accelerating?"Friday, September 14, 2007
The Perils Of Intuition
A hotel manager looks out in the lobby and notices a guest with a Hermes tie. Another is carrying a Prada handbag. In an instant and through “the power of the glance,” the hotelier decides these folks “look right” and are worth giving special attention. Unfortunately, this hotelier has probably just…
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