FURTHER PRACTICE
FURTHER PRACTICE
FURTHER PRACTICE
Hyper-Personalized Marketing
As AI continues to evolve, its impact on marketing will only grow stronger. Some
emerging trends include:
Generative AI: Creating original content, such as blog posts, social media
captions, and ad copy.
AI-Powered Video Editing: Automating video editing and production
processes.
Ethical AI: Ensuring that AI is used responsibly and ethically, respecting
privacy and avoiding bias.
A. By conducting surveys
Answers
One of the core principles of behavioral science is that people are often irrational and
emotional, rather than purely rational. This insight challenges traditional economic
models and offers a more nuanced understanding of consumer behavior. By
recognizing these irrational tendencies, businesses can develop strategies to nudge
consumers towards desired behaviors.
1. Anchoring Bias: People tend to rely heavily on the first piece of information
they encounter, known as the anchor. Marketers can strategically use this bias
by setting high initial prices and then offering discounts.
2. Loss Aversion: People are more motivated by the fear of loss than the desire
for gain. Businesses can leverage this by framing offers in terms of potential
losses, such as limited-time offers or exclusive discounts.
Product Design: Designing products that are not only functional but also
emotionally appealing.
True/False?
Answers: