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One explanation is that our relationship with time is much more personal than our relationship with money. Determined to test whether or not all references to money would lead to a more negative output due to the participant being reminded of how much they spent on a product , they conducted a similar experiment at a concert. Even in an instance like this, where time was the resource being spent, asking about time increased favorable opinions toward the concert. Marketers need to start being aware of the meaning that their products bring to the lives of their customers before they start focusing their marketing efforts.
The study notes that the one exception seems to be any products consumers might buy for prestige value. He follows up with an interesting study that examines what would happen if he took out the middle price:. What was happening was that customers began to compare the middle option to the latter option since their prices were similar and this comparison made option 3 look like an excellent deal. Researchers have found that sale prices, that emphasize the original price, do seem to beat out number 9 when split tested. The number 9 still comes out on top when it is used in cohesion with a sales price.
Given similar circumstances, given even a less expensive option , it seems that the power of 9 still takes hold; remember that when setting pricing of your own. In a pricing experiment conducted by Richard Thaler, two scenarios were tested for a relatively mundane exercise: buying a friend a beer on the beach. In the first scenario, the participant was asked by a friend if he wanted a beer, and it was specified that the beer was going to be bought by the local rundown grocery store.
Keep in mind the interior of the hotel had nothing to do with the results, the beer was to be imbibed on the beach. Thaler concluded that it simply strikes people as being unfair that they should pay the same for both places, even though the beer itself is exactly the same. The inflated price now made the jewelry irresistible to buyers, who had before ignored the color over all others which was the initial reason for the intended price cut. Save my name, email, and website in this browser for the next time I comment.
programming and human factors
Comparative Pricing: Not Always Optimal One of the first techniques that many marketers attempt in forming a new pricing strategy is to directly compare their price with that of a competitor. A surprisingly large fraction of applicants, even those with masters' degrees and PhDs in computer science, fail during interviews when asked to carry out basic programming tasks.
For example, I've personally interviewed graduates who can't answer "Write a loop that counts from 1 to 10" or "What's the number after F in hexadecimal?
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These are basic skills; anyone who lacks them probably hasn't done much programming. Speaking on behalf of software engineers who have to interview prospective new hires, I can safely say that we're tired of talking to candidates who can't program their way out of a paper bag. If you can successfully write a loop that goes from 1 to 10 in every language on your resume, can do simple arithmetic without a calculator, and can use recursion to solve a real problem, you're already ahead of the pack!
Between Reginald, Dan, and Imran, I'm starting to get a little worried. I'm more than willing to cut freshly minted software developers slack at the beginning of their career. Everybody has to start somewhere.
But I am disturbed and appalled that any so-called programmer would apply for a job without being able to write the simplest of programs. That's a slap in the face to anyone who writes software for a living. The vast divide between those who can program and those who cannot program is well known. I assumed anyone applying for a job as a programmer had already crossed this chasm. Apparently this is not a reasonable assumption to make. Apparently, FizzBuzz style screening is required to keep interviewers from wasting their time interviewing programmers who can't program. Lest you think the FizzBuzz test is too easy — and it is blindingly, intentionally easy — a commenter to Imran's post notes its efficacy:.