For my Theme Zoom Students Only: Here is another reason why big companies need to hire Neuromarketers (I wish I could have gotten to Reed Hastings) before they lose 1 billion dollars in revenue with a single action. The Netflix Marketing Error is a simple but dangerous case of what is called Loss Aversion < en.wikipedia.org/wiki/Loss_aversion > . You cannot give customers something of bundled value and then take it away without them feeling extreme rage as discovered in the many experiments on Loss Aversion. Every cognitive neuroscientist knows that Loss Aversion is one of the most dangerous tripwires in the neuromatrix. It actually blows my mind, that CEOs of billion dollar companies dont have neuroscientists and decision theory experts on staff. - Russell cnet/news/netflixs-lost-year-the-inside-story-of-the-price-hike-train-wreck/
Posted on: Sat, 10 May 2014 04:19:00 +0000
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