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Tag: cognitive bias

Categories Marketing

Pratfall Effect: Flaws Leading To Brand Adoption

Posted on January 3, 2023January 4, 2023by Vejay Anand
Listerine
We are continually bombarded by stimuli, and we increasingly make judgments based on unconscious biases, external influences, and cerebral shortcuts. The Pratfall Effect is one…
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Categories General

Planning Fallacy – Underestimating how long it will take to complete a task

Posted on September 1, 2022September 1, 2022by Vejay Anand
planning fallacy
It is routine for a coworker who has been tasked with completing a presentation by a certain date to fail to do so within the allotted time frame, even though they had previously …
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Categories General

Familiarity Principle – Poor Decision Making

Posted on July 1, 2021July 1, 2021by Vejay Anand
The first time I visited a Japanese restaurant, I took a look at the menu. I had never eaten Japanese. I realized that I did not know any of the dishes and items were all Japanese…
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Categories General

Get Suckered by Horoscopes – Barnum Effect

Posted on July 1, 2021July 1, 2021by Vejay Anand
Read the horoscope in the newspaper today.  It’s surprisingly accurate.  Sucker! We all know that horoscopes are written for the masses, but I can’t help but fe…
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Categories General, Marketing

Hopping on the Bandwagon – Herd Mentality

Posted on June 30, 2021June 30, 2021by Vejay Anand
I was watching Scam 1992 – the web series on Harshad Mehta. Self-anointed Big Bull. What surprised me was that with just a rumour that Mehta was picking up a share, the rest of th…
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Categories General, Marketing

Why we like the 1st Piece of Information?- Anchoring Bias

Posted on June 30, 2021June 30, 2021by Vejay Anand
I saw online that a TV priced at Rs. 60,000. I went shopping at a local electronics store that offered it for Rs 59,000, which I happily accepted. Except that another dealer was s…
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