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Mastering ‘Mental Accounting’: The Key to Persuasive Buying Decisions

Beyond Philosophy

I mention it here, not to rub it in your face (much), but because in the booking of this cruise, I saw an excellent example of how my wife and I leverage mental accounting regarding our splurges. It was our version of Mental Accounting. Mental Accounting ruins all that. People have various rules regarding found money.

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Discover the Actual Number of People You Can Effectively Manage

Beyond Philosophy

Let’s imagine that you’re an account manager with 200 customers. If you know that 80 percent of your revenue comes from 20 percent of those customers, what do you think happens to the other 80 percent that only accounts for 20 percent of the revenue? We were a tight-knit group. Yep, you guessed right, not much.

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The Remarkable Power of Tribes for Your Brand

Beyond Philosophy

Tribes are groups of people that are similar or connected in some way. . Sometimes tribes are based on the nationality, race, or ethnicity of a group of people, which is what I mean by a “formal” tribe. People can form relationships with brands and groups of employees. Moreover, out-of-group threats produces in-group cohesion.

Banking 64
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Amazon SageMaker Feature Store now supports cross-account sharing, discovery, and access

AWS Machine Learning

SageMaker Feature Store now makes it effortless to share, discover, and access feature groups across AWS accounts. With this launch, account owners can grant access to select feature groups by other accounts using AWS Resource Access Manager (AWS RAM).

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6 Killer Applications for Artificial Intelligence in the Customer Engagement Contact Center

If Artificial Intelligence for businesses is a red-hot topic in C-suites, AI for customer engagement and contact center customer service is white hot. This white paper covers specific areas in this domain that offer potential for transformational ROI, and a fast, zero-risk way to innovate with AI.

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Is Your Price Right? Here?s How To Check

Beyond Philosophy

You should understand Mental Accounting as it pertains to customer behavior before you set the price and before you ruin how your customers feel about your experience. So, What is Mental Accounting? We then allocate our available funds to the different groups. Airlines Run Mental Accounting Too Often in the Red.

Airlines 360
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5 Surprising Rules to Live By When Managing Customer Memories

Beyond Philosophy

Midway, the research team brought the participants in as two groups for a different study. Researchers showed one group “Live the healthy way, eat five fruits and veggies a day,” among others, and the other group, “Each and every dining-hall tray needs five fruits and veggies a day,” among others.