Columnists George Prout

George Prout

Applied Marketing 101: Probability and the primate brain

Nearly everything in life, as well as in business, can be represented by mathematical models. Even if you’re uncomfortable with math, your brain still creates models for a variety of activities, and the decisions that you make are significantly influenced by this modeling behavior. We do this instinctively, since there were distinct evolutionary advantages for our ancestors who were able to correctly gauge the chances that food (a good thing) was just around the corner, or that a lion (a bad thing) was lying in the tall grass. Unfortunately, our capacity for correctly gauging the probability of the occurrence of good or bad things is skewed by the way our primate brains are wired, which in some cases diminishes our ability to understand and anticipate the likely outcome of certain actions.

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The Sword of Damocles

Of the many Greek and Roman political philosophers whose writings provided the foundation for modern-day democracy, Marcus Tullius Cicero, who lived during the time of Ju...

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Applied Marketing 101: An empirical approach to December reorders

In the late 1800s, an economist named Vilfredo Pareto undertook a ground breaking study of the distribution of wealth in Italian society. He found, unsurprisingly, that e...

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Applied Marketing 101: In search of an effective private label credit program

How important is access to credit in the average consumer’s jewelry purchasing decision? If you study the data, you will discover that about half of all the jewelry bou...

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Applied Marketing 101: The Chocolates are coming!

One of my favorite aspects of my job at Gems One is directing our global product development team. In this role, it’s my task to try to guess what consumers will be ask...

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Applied Marketing 101: A foolproof method for increasing your bridal business

In times like these, the only sure path to sales and profits in the retail jewelry business is Bridal, so I emphatically urge you to focus your efforts on growing that po...

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Applied Marketing 101: How Neurophysiology impacts advertising effectiveness

In recent years, marketing practitioners have been making great strides in understanding how the brain receives, stores, and reacts to advertising messages. I’m fascina...

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Applied Marketing 101: The QR code/mobile tagging revolution part II

In the May issue, I addressed the impending explosion of QR Code usage in B to C communications, facilitating an application called Mobile Tagging that will allow retaile...

Applied Marketing 101: Beads and the Product Life Cycle Curve

Applied Marketing 101: Beads and the Product Life Cycle Curve

Scarcely a day goes by without at least one retailer asking my opinion on if, and when, the bead frenzy will end. It’s an important question, given the extraordinary de...

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