Posts in Business
The Hearsay Rule

Thanks to O.J. Simpsons's "Trial of the Century", millions more people now know something about the hearsay rule.

The Hearsay Rule puzzles many viewers and law students, but rests on a basic human principle: To evaluate what someone says, a person needs to see the speaker. The jurors must see the witness; they cannot just hear what the witness says.

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BusinessChloé RComment
The First Banks Lesson: People Hear What They See

A researcher once asked twenty business owners what several First Bank's commercials were communicating - and shocked the creators.

These commercials featured an attorney preparing to climb Everest. His preparation included studying previous climbs, weather patterns, and other pertinent information. The Bank's explicit message, intoned by the announcer, was that success in anything requires information, and that First Banks had "the information you need to make good financial decisions."

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Study The Ego

The nice thing about egos is that everyone has one. And the bigger they are, the easier they are to read. But don't get egos confused with being egotistical. A person with a big ego has a high opinion of himself, whereas an egotistical person often acts conceited to cover an inferiority complex. I don't intend to play psychologist, but it does help to recognize a prospect with a big ego.

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What Really Sells

In the factories we make perfume," Revlon founder Charles Revson once said. "But in the store, we sell hope." So do we all. Everywhere, people are buying happiness, or the hope of it.
Happiness is so important in our country that its pursuit considered an inalienable right - together with the right to life itself - in our Declaration of Independence.

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Superiority

David Ogilvy, who turned his genius for advertising into famous Ogilvy & Mather agency and, later, a huge chateau in France, once observed that marketers are wrong to emphasize superiority.
Ogilvy argued you can accomplish just as much by convincing a prospect that your service is "positively good."

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BusinessChloé RComment
Business is in the details

People who insist: "The companies in our industry are basically alike" must recognize the human trait. People feel a need to justify their decisions to themselves. So they look for differences upon which to base their decision. What does this mean to a company in an industry of lookalikes?

It means that the more alike two services are, the more important each difference become.

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Sometimes doing nothing means yes

I think the real masters of assuming the sale are those companies that make you do something before you can refuse to buy their products. For instance, when you rent a car, you're told to put initials on the application if you don't want the insurance. They want you to think, "I'm not going to sign that. It's just my luck that after I sign, I'll have an accident!" If you've ever belonged to a book-of-the-month, record-of-the-month, or even your favorite-fruit-of-the-month club, they make you notify them only when you don't want to buy during a particular month.
 

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