opportunity cost Archives » Goldmine Marketing

What is your Cash really worth? The Law of Diminishing Returns

We’ve all been asked to donate to our favorite causes.

School events, charities, public radio, and politicians have all asked for our cash. They each promise the biggest bang for our buck.

Politicians ask for small donations not because it makes a large difference, but because you'll remain consistant. Image "Bernie Sanders - Caricature" by DonkeyHotey, Flickr, CC-By-2.0 — *Politicians ask for small donations not because it makes a large difference, but because you’ll remain consistent. Image “Bernie Sanders – Caricature” by DonkeyHotey, Flickr, CC-By-2.0*

How about you, have you donated small amounts of cash to any politicians? Continue reading “What is your Cash really worth? The Law of Diminishing Returns”

Three Types of Liking: People Liking Brands (Part 2)

I decided long ago that I like Coca Cola products.

First, I enjoyed the flavor of Coke. That sweet, sweet fizz… Soon I “liked” everything the company produced. I advocated for Coca-Cola products of all varieties, even the ones I didn’t drink!

“Coca-Cola Glass Waiter in Background” by Kevin James, Flickr, CC-By-2.0

By extension, I decided I didn’t like Coke’s rivals. I avoided them, to match my new public identity.

Cognitive science has demonstrated that once someone publicly announces a position on a topic, that person rarely changes his mind. Any new evidence or challenge against that believe will backfire, causing the believer to dig in deeper.

Think about it — how many arguments have you really won? People almost never change their minds! Continue reading “Three Types of Liking: People Liking Brands (Part 2)”