Bancassurance is a term used to describe a business model in which a bank and an insurance company cooperate to offer products to their customers. The goal of Bancassurance is to provide customers with a one-stop-shop for all their financial needs. In addition to providing convenience, it also offers customers the opportunity to save money… Continue reading Bancassurance in Bangladesh | All you need to know
Anchors in marketing to benefit your sales
Anchors are a powerful marketing tool used to influence a customer’s purchasing decision. Anchors can be either internal or external and can be either physical or perceived. Anchors can be either external or internal. External anchors are cues in the environment, such as prices and other people’s opinions. Internal anchors are personal beliefs or feelings… Continue reading Anchors in marketing to benefit your sales
Spillover Effects: How to avoid and deal with them
The spillover effect happens when events in one nation affect the economies of other countries. For example, an earthquake, stock market crisis, invasion, or another macro event may have adverse, neutral, or positive spillover effects. Understand the spillover effects of a domestic event One of the most important things you can do to avoid spillover… Continue reading Spillover Effects: How to avoid and deal with them
Nudge Theory in Business | Secrets to positivity
Nudge theory is the notion that subtle interventions can lead people to make better choices. For instance, if you put fruit in reach of your employees, they are more likely to eat healthier snacks during the day. The theory has many applications for businesses like increasing productivity and boosting morale.A growing number of business owners… Continue reading Nudge Theory in Business | Secrets to positivity
behavioral economics vs behavioral finance: All you need to know
Behavioral economics focuses on the individual’s economic decision-making processes, whereas behavioral finance focuses studies how individual behavior, including irrational behavior/cognitive biases, impacts financial decisions and markets. They are sometimes used interchangeably. Some economists believe that behavioral economics is a better label for their field because it addresses human behavior in labor markets, consumer markets, and… Continue reading behavioral economics vs behavioral finance: All you need to know
Why anchoring bias is so tricky | All you need to know
Anchor Bias is a cognitive bias that causes us to make decisions based on the first piece of information we encounter, rather than considering all available evidence and making an informed decision. Anchoring Bias Anchoring bias is a term used in psychology to describe the human tendency to rely too heavily on one piece of… Continue reading Why anchoring bias is so tricky | All you need to know