The world is increasingly influenced by behavioral economics, emphases reframing, emotional politics, sensitive information, irrational logic, and augmented reality. That which clings people to the living.
The most competitive advantage is the ability to create new value for customers through emotions.
In conditions when the choice in the market consists of approximately the same goods and services, the consumer stops focusing on brands and is only interested in the price. The most important competitive advantage is the ability to create new value for customers through emotions. “The impression became the driver of the economy” – this thesis refers to the words of the American marketing guru Joseph Pine. The buyer pays not for the usefulness of the product or service, but for the feelings that they cause, Pine argues. The level of service as such does not play a role in this. “If service is time well saved, experience is well spent,” says Joseph Pine.
For a long time in Israel, they tried unsuccessfully to sell insurance policies to those who went to the army. Well, no one wanted to buy them in any way.
Then one guy came to the insurance company and said: “I will do it.”
A week later, they look at the information: indeed, hundreds of sold insurance policies.
Nathan, tell us how you did it?
Well, let’s go to my class, now there will be a group of newcomers.
We went to take a look. He tells them:
Look guys. You haven’t bought insurance. OK. And you were sent into battle. And you died. The government will send a message of condolences to your family.
Now let’s see what happens if you bought insurance. You were sent into battle and you died. The government will send sympathy to your family and insurance NIS 100,000.
Then he paused and asked, “Who do you think will be sent to battle first?”
By evening, all insurances were sold.
And what would happen if he told them: “Come, guys, today there is insurance with a 20% discount! Promotion – only 20 days”
Nobody would buy it. Actually, as it was before.
Why? Because he guessed to sell not insurance, but “life”.
Feel the difference. This is completely different.
Harley Davidson isn’t selling motorcycles, it’s the feeling of flying.
Starbucks is not selling coffee, but socializing.
Guinness does not sell beer, but its history.
Four Seasons hotels do not sell hotel rooms, but a sense of paradise.
Chanel does not sell perfume, but a sense of superiority.
Thus, the light is increasingly influenced by behavioral economics, reformulation of accents, emotional politics, vulnerable information, irrational logic and augmented reality.
That which clings people to the living.29