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99% pure, 99% fat free, and kills 99.99% of germs are the common advertisement messages given by different brands. Why the same brands does not use 1% impure, 1% fat, and 0.01 % germs survive?. Using the right kind message will induce consumers to buy product. Framing effect is the reason behind using the marketing messages like the ones mentioned above.

Cool mint fragrance toilet cleaner ads. Cleaner bobs kill germs inside toilet bowl. Vector realistic illustration. Horizontal banner.

Kills 99.9% of Bacteria – Source: https://previews.123rf.com

In 1979, Daniel Kahneman and Amos Tversky published a paper titled “Prospect Theory:An Analysis of Decision Under Risk”.(Also Tversky A., Kahneman D. (1985),Kahneman D. Tversky A.,(1983)). This paper investigated and questioned “expected utility theory” which is widely used in the area of economic decision making. Expected utility theory uses probabilities of the outcome and does not consider any other irrational factors of humans. To support their claim, authors refers to Allais Paradox which was proposed in the year 1953 by Maurice Allais. View full article »

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Creating an advert with a hidden meaning or image can be joyful for marketers. However, is it meaningful to use them in marketing campaigns?. As a marketer, one has to seek advice from academic think tanks before creating such an advert. Commercials that imbue consumers through hidden meanings may lose the entire plot. This article discuss on the realm of subliminal perception.

To put it simple, subliminal perception are cues (can be an image, sound, or any other object) that are not processed by our brain consciously(see Figure 1). In other words, they are not seen by consumers and it is not perceivable immediately. Have you observed Baskin and Robbins logo, is there anything different? (see Figure 2).

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Figure 1: Supraliminal  vs Subliminal. Retrieved from http://blog.visme.co

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Weber’s law in marketing


Ice creams are served in a round tub and juices are served in tall slim glasses. Is there anything fuzzy about it?. Yes, indeed as a consumer we feel we were served more. If you want to test it, go ahead and pour the same amount of juice in standard measuring water bottle – you will get know how much you were actually served. A consumer normally don’t know differences when they are subtle. Though, they identify the differences when they are salient and extreme.

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Pic 1: Do we really notice these things during purchase? Source: https://consumerhelpline.wordpress.com

Ernst Heinrich Weber a psychologist of 17th century studied how people differentiate between the same stimuli in two different occasions. Imagine you are now lifting  2 pounds of chocolate in your hand and then if you lift a 2.1 pounds of chocolate in the second occasion. Will you feel the difference?. View full article »


Lionel Robbins in his book, “An Essay on the Nature and Significance of Economic Science” has given a definition for economics through the lens of scarcity. The definition is given by him is imperative even now. He defined,

“Economics is the science which studies human behaviour as a relationship between ends and scarce means which have alternative uses”.

                                                                                                                             – Lionel Robbins

Scarcity of any commodity creates demand for it and that demand leads to higher price ( based on demand curve).

Robert Cialdini in his famous book “Influence: The Psychology of Persuasion” has mentioned “Scarcity principle” can be used in persuasion. His article titled “The Science of Persuasion”  he explains how scarcity can influence people and how marketers use it influence consumers. This article explores about the use of scarcity in marketing context to persuade consumers. Before getting into the literature, let’s have a look at an example of scarcity effect in marketing.

Online platforms like Amazon, Ebay, Flipkart and many other websites mostly creates this scarcity effect to influence consumers to buy product. Take a look at the picture given below to get a good grasp of practical use of scarcity appeal. View full article »

Bangor University – Serendipity Fair


On 24th September, 2017 Bangor University Serendipity fair welcomed the entire student community across the globe. Over 100 societies, 50 clubs for sports, and around 30 different volunteering projects – the entire PJ hall and parking space at the back and front the main arts building were jam-packed. Just imagine a society – get into serendipity fair and you will certainly find it, if not start one on your own. Wow, that is how students are empowered at Bangor University.

Serendipity Fair - Bangor University

Bangor University – Serendipity Fair

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Psychology department at Bangor University


Consumer behavior is a fascinating subject. I have always wondered why am I crazy about “free” stuffs – even though I don’t require the product, if it is offered for free I used to get and stock it up unused. That’s really meaningless and defy fundamental laws of economics and psychology. When in need we will buy and use it, when it is offered for free we don’t really question our needs as such and we forecast ourselves that we will use it in future. Fundamentally, we break our cognitive thoughts and take most of decisions emotionally. I hope you will feel the same. Looking at these bewildered behaviors, I thought I should study further more. When I looked up, I found UK is consistently exploring behavioral changes and it is the first country to establish its own nudging unit. I started to scout for colleges in UK that combines economics, psychology and neuroscience in the curriculum that can suit my palate. “BANGOR UNIVERSITY” stood apart from the entire crowd.

Bangor university amused me with its psychology department. The department is filled up with witty and nerdy professors. It also offers unique degrees to cater the specific needs of students around the globe. I would certainly second what the university says “Think Psychology, Think Bangor”.

On September 20th, 2017, all the postgraduates had to gather up in the Lecture hall 5 & 6 of Wheldon Building for the induction. This blog focuses on the induction program.

Dr.Paloma Mari-Beffa, Director of Graduate Studies begun the session with her tales of two students. One student being Miguel and another being Gema. The two students are extremely opposite and found to be same on one character called “resilience”. Dr.Paloma talked on the power of resilience and how it can help in the future.

Dr.Paloma

Dr. Paloma Mari-Beffa on the power of resilience

Next session was handled by Dr.Lloyd Tracey (Director of Student Engagement), an amazing and witty professor I would say. She introduced about the department society, student society, psychsoc and on student activities. She made the crowd to smile with her witty comments. She is humorous 🙂 View full article »

Bangor University – Welcome Week Experience


Ten year dream to pursue studies abroad came true on 13th September 2017 after I landed up in Manchester airport. Bustling airport witnessed something different at the arrival and immigration. Students from different parts of the globe queued up at the immigration section with their CAS (Confirmation of Acceptance of Studies) and I was one among them. A bunch of international ambassadors from Bangor University gathered up near the end of the arrival section to greet and take us up to the university.

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Powish hall – Day 1 started with free breakfast

The very first day after arrival student ambassadors of Bangor university took new students around the Bangor and made us feel at home. Students ambassadors primarily focused on where to go for shopping, showed up landmarks, told us what to buy and what not to buy and many more. Ambassadors are informative, energetic, enthusiastic in tell stories about their studies at Bangor university. View full article »

Why you shouldn’t believe in Modi’s survey results


Demonetization of higher value notes has caused havoc in India. Modi’s government promised that the situation will ease off in 50 days time. People are looking forward eagerly to get back to their normal life. In between, Modi wanted to know what people feel about the action taken on black money. To get feedback about the new move, he used Narendra Modi app to gather information . The app needs personal data including your voter ID (complete information about the app is discussed here). The app gathered feedback on the new move. Around 5 lakh people have responded to the survey within 24 hours. The results were published by Shri.Narendra Modi via different social media network. Details about the survey are given here.

survey

But the results shared cannot be generalized to the population. Why it cannot be generalized?. Because it doesn’t follow any statistical principles. Let’s get ahead with one question and some discussion on the survey results. Then you will find, why the survey results are not right.

  1. Does the survey include everyone who represents India? Like rural, urban, literate, illiterate, different geographic location, income based classification, and other parameters. The sample has to be drawn in such a manner that the sample represents the entire population not only a particular set of people.
  2. 5 lakhs out of 1.25 billion is just 0.04 percent of the entire population. 0.04 percent of the population, who don’t really represent all the sectors of India can’t give a bigger picture.
  3. Total smartphone users in India is 292 million people. Only 1.7 percent, out of it have responded to the survey. Only people, who are affordable to avail internet services has responded to the survey.

People who are standing in the queue will never find time to respond to the survey. Hence the results can’t be generalized to the entire population. Results published is a summation of opinions of hardcore loyal fans of Modi government.

 

The Psychology of Price – Book review


Leigh Caldwell is an expert in pricing and behavioral economics. He wrote an engaging book titled  “The Psychology of Price” . Book only talks about how to set price for a product and how to manage it. The book has 19 chapters in it and right from the first chapter, the author explains various aspects of pricing using a story of “Chocolate tea-cup” product made by Maggie. Even though the story is fictional the lessons are real.

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Source: Amazon.in

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Learning R Programming Faster


R programming is an open source software programming available for data analyst and researchers. 23 years back it was developed by John Chambers and it was called as S Programming. Later this was developed by Ross Ihaka and Robert Gentleman and was named as R Programming. By the year 2000, a stable version of R got released. It is now developed by R development core team.

This language makes the job of data scientist easier compared to any other software available in the market. It is growing at a faster pace compared to other languages like Python, SCALA,SAS, SPSS and so on.

r1

Growth of R programming – Source: https://onlinecourses.science.psu.edu

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