Leuty Parker

Tag: #selling

  • The Black Swan Effect

    The Black Swan effect refers to rare, unexpected events that have huge impacts, and only seem obvious in hindsight. It’s like the butterfly effect; small or unpredictable triggers lead to dramatic, far-reaching consequences.

    In short, it explains how humans underestimate the likelihood of extreme situations, but rely heavily on past data.

    Important attributes include unpredictability; nothing in the past clearly points defined the future.

    It concludes to really big consequences; PESTLE (as learned in my MSc: Political, Economic, Social, Technological, Legal and Environmental) or cultural. It’s only afterwards when it becomes obvious and should have been expected.

    Black Swanevents can instantly transform entire industries, markets, technologies, and even society itself.

  • Selling myself

    Someone said something that really made me feel like a total failure. But, being a similar age to me I, thinking about it made me feel so much better. My observations may inspire you to relate to the positives in your life. They’re there. It does make me sound like I’m seeing myself through, turns out I have a bit of capital though. So, I’ll sell myself to you:

    I’ve done a batcholers , & in the process of a masters

    I’ve lived in 3 countries

    I’ve survived 3 comas

    I’ve declined a proposal

    I’ve traveled all over the world; ones that stick out are Mongolia, Russia, Sri Lanka, Iceland, New York, France the list goes on….

    Obverse been a model

    I’m now at a stage of starting a new life, a new career, a new identity. Do you buy??

  • Veblen goods

    This is the theory that if it’s more expensive, it makes these things are more desirable.

    A good example is the Louis Vuitton handbag. People don’t buy the item for any design detail… they don’t care. They buy it for the name. The acclaim the brand has made for themselves, through advertising or values customers like celebrities who they make an icon for the brand.

    In short, people will buy for the name. This is best exemplified in the Louis Vuitton handbag; people don’t care for the design, just as long as it’s got the “LV” logo on it.

    These high fashion brands make no money from the clothes, they do from the Veblen goods. The name they have built for their company. Selling cheaper –in comparison- goods, like handbags, wallets, perfumes or cosmetics.

    In a way it’s saying the more expensive & unattainable it is, the better. Like showing how special you are. How precious you are. Because you can attain this expensive thing which must have taken a lot of money & effort to get to point of sale.

  • Influence

    It has certainly evolved with the career of being an “influencer”. It’s certainly understanding how the culture & technological advances affect trends.

    So what is persuasion? I’ll give you some examples which have been experimented scientifically.

    It really depends on the geographic culture on how you act to the subject. That can be in what manner you speak to them (pronouncing particular things in a certain way) or the content of conversation or everything down to manners.

    A way to influence is to tap into the fear of loss. That can be something like “we only have 2 left” or “a woman across the country is wanting more than you” -competition- or wanting what you can’t have -scarcity- sale price or sell by date.

    There’s forms of influence, like if someone gives you a gift, you feel like you owe them something in return where it’s a gift, a favour or an invitation. We dismiss or have nasty names for those who don’t show obligation, like “mooches”.

    It’s not what we receive, it’s that we re.

    In financial terms, most of the things we are persuaded to do (or buy particularly) is not about the monetary value of the item. It’s about how awful, psychologically, to dismiss it.