Posts by: Tim J. Smith, PhD
“There is a limit to the information a hungry mind can digest, a limit that often corresponds to the magical number seven,…
MoreChoice is good, more choice is better … or is it? Is it always better to offer customers more choices, or should companies restrict the choices available to customers in some situations?
MoreAn economist, finance executive, and marketer walk into a PWYW bar. The finance executive says: “With pricing like this, how can this…
MoreNewly released census figures show that the nation’s minority population has reached 102.5 million people, or one in three Americans. This burgeoning population—and the buying power it represents—makes effective multicultural marketing imperative for businesses to succeed. Yet many firms in our businesses community lack both a clear understanding of these diverse consumers and a disciplined approach to investing in and managing multicultural marketing. So, how can companies begin or improve multicultural initiatives?
MoreCome into most executives’ offices and say “I have a great promotional idea: Let’s let customers pay what they want. It will be great!” and your career there is all but over. Yet, experiments recently demonstrated that it was great, and more specifically, it was great for profits. How can this be?
MoreEntrepreneurs are a different breed, but what is this breed? Recently, Reed et al. examined the decision making practices of highly successful entrepreneurs, individuals who have grown a company to $200 million or more in annual revenues. They found that entrepreneurs tend to use a more effectual logic rather than predictive logic. What is effectual logic versus predictive logic and how does it help entrepreneurs? … Read on.
MoreTurtles have shells, but they only progress when they get their head out of their shell. Get your head out and move…
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