MI Rewind: Warren Buffett’s #3 & Charlie Munger’s #1 Business Book of All-Time w/ Robert Cialdini
The Intrinsic Value Podcast - The Investor’s Podcast Network
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Understanding Psychological Strategies in Business
In this chapter, they discuss the importance of understanding the underlying psychological reasons behind certain business strategies and tactics. They talk about how giving away free things can create a sense of obligation in customers, leading to future purchases, and highlight the mistake of offering bonuses after a purchase instead of providing something upfront to incentivize more purchases.
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