In 2011, Patagonia made an unusual advertising campaign. They told people the opposite of what a clothing brand wants customers to do. “Don’t buy this jacket.” And you know the best part? They published it on Black Friday. So imagine this. You open a newspaper that day and see pages of ads from different brands.…
Category: Marketing Psychology
Commitment Bias: How To Avoid and Benefit From It
Why is ending a long relationship so hard?Even if you know it’s not good for you anymore, it’s still difficult to end it.The answer is commitment.Your friends know your partner, you have photos on Instagram together and you have shared how happy you were.So the imaginary stakes of a breakup are high.Because your mind tries to be consistent with your…
Hindsight Bias Meaning, Examples, and How to Avoid It
Hindsight bias is a fallacy where people feel they knew how things would turn out after the events occurred. Take yourself back to December 2019. A new decade is about to start. Who was expecting a pandemic that’d keep us under lockdown and change how we live for years? Who was expecting a war in…
Concorde Fallacy: How to Avoid Making Decisions Like A Losing Gambler
The Concorde fallacy is a mental bias where people continue spending resources (money, time, or effort) on failing projects because of a prior commitment. Let’s see the story of Concorde and how a fallacy was named after it. Concorde was an impressive aircraft. It had an elegant design, with a maximum speed over twice the…
