December 2024

The Psychology of Pricing: 3 Anchoring Tactics Every Business Owner Must Know

In 1982, two renowned psychologists, Daniel Kahneman and Amos Tversky, conducted an experiment that showcased a fascinating cognitive bias: the Anchoring effect. They presented two groups of students with identical sequences of numbers but in reversed order and asked them to estimate the result quickly. The sequences were: The results were staggering. The first group, […]

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America’s Spirits Industry Hits a Dry Spell

ALCOHOL INDUSTRY The US alcohol industry is experiencing its biggest hangover in decades, with no cure in sight. After enjoying a boom during the pandemic’s stay-at-home cocktail craze, major spirits and beer companies are now feeling the pinch, with consumers opting for generic products and younger Americans embracing moderation. Brewed trouble: For the first time in

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Celebrating Excellence: Congratulations to Beth Gantz, Lorain County Community College SBDC Director

It’s not every day you get to witness someone in your professional circle being recognized for their outstanding contributions, but today is one of those days! I’m thrilled to congratulate Beth Gantz, the dedicated and dynamic director of the Lorain Community College SBDC, for receiving the Individual Award for Best Center Director at the Statewide

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