How Marketing Your Brand Boils Down to These 2 Straightforward Strategies

Move the bar and make yourself easiest to buy

Let’s talk about “satisficing.” Though it at first appears to be a misspelling, it’s actually an incredibly important idea about how people make decisions from Nobel Prize-winning economist Herbert Simon. The word is a portmanteau of “satisfy” and “suffice” and suggests that rather than trying to maximize utility when we make purchase decisions, as an economics textbook would traditionally tell you, we instead choose things by setting an arbitrary satisfaction threshold (satisfy) and then trading excess utility for ease (suffice).