Automotive sales
Osborne Effect
Balancing the promotion of upcoming vehicle models with the need to maintain sales of current inventory.
Similar Situations
Skinner's Superstition Experiment
Sales techniques: Use data-driven strategies to improve sales, rather than relying on "lucky" practices.
Minto Pyramid
Sales pitches: Following the Minto Pyramid can help you structure your sales pitch in a way that is persuasive and effective.
Gambler's Fallacy
Sales performance: Recognizing the gambler's fallacy can help you avoid assuming that a string of successful or unsuccessful sales will predict future performance.
Osborne Effect
E-commerce sales strategies: Balancing pre-release promotions with the need to maintain sales of existing products.
Fundamental Attribution Error
Sales and negotiation: Knowing the fundamental attribution error can help you better understand the motivations and actions of potential clients or partners during sales and negotiation processes.
Barnum Effect
Sales pitches: Be aware of how salespeople may use flattering, broad statements to create rapport and influence your decisions.
Anchoring
Sales and promotions: Recognize when a retailer is using anchoring to make discounts seem more attractive by comparing the original and sale prices.
7-38-55 Rule
Sales Meetings: Persuading clients by emphasizing non-verbal communication to build trust and demonstrate enthusiasm.
Peak-End Rule
Sales pitches: Highlighting the most appealing features of a product or service and concluding with a compelling call-to-action.
Three R's of Growth
Online Retail Shop: Offer discounts to repeat customers, incentivize them to refer others through referral programs, and request reviews on product pages to boost sales from new shoppers.