perception

Anchors Aweigh! How Early Perceptual Information Biases Subsequent Judgments

Anchoring and adjustment, a ubiquitous heuristic process in judgment and decision making, has been vastly demonstrated in the numerical domain. With the help of four studies, we demonstrate the anchoring and adjustment bias in perceptual domains. Additionally, we outline a process of perceptual anchoring and provide a way for a potential resolution to the disagreement among different process accounts for the anchoring phenomenon.

By |2022-02-17T05:30:57+00:00March 9th, 2021|Categories: Behavioral Theory & Insights|Tags: , , , , |

The Battle for Consumers Is Often about Beliefs, Not Consumer Experience

Marketers increasingly mold their work around the customer experience. They manufacture rich, immersive interactions, carefully crafted to resonate with consumers. A 1998 Harvard Business Review article on the ‘experience economy’ noted that “experiences are a distinct economic offering.” Quite simply, the argument runs that delightful customer experiences add value and build loyalty. And yet many companies find that objective improvements to products and services, which are central to experience, don’t translate into customers or revenue. The fact is, renovating experience is insufficient, because how we perceive an experience depends deeply on our beliefs and intuitions.

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