Posts Tagged ‘decision making process’

The Secret to Consumer Decision Making: Value

What if I told you there was a universal reason behind every decision in the world- an underlying formula which is used again and again? This formula not only dictates what products we buy or what services we seek out- but also all other aspects of your lives. The formula is simple: maximising perceived value. In this context, value can be defined as benefits divided by costs. If the result is greater than 1 (eg. Benefit...