Assessing Your Market: A Step-By-Step How-To Guide
Assessing your market. Is this something you hear every day? Or, have you even heard of it? Market assessment is very important, especially when you want to create brand awareness. Behavioral economists call this effect with an even cuter name – the divestiture aversion. It refers to the cognitive bias that we give more value to something when we own it. So why should you concern yourself with the endowment effect aka the divestiture aversion? […]
