Reward Substitution
A strategy where less immediate or tangible rewards are substituted with more immediate or tangible ones to encourage desired behaviors.
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“product offerings”
Pseudocertainty Effect
A cognitive bias where people perceive an outcome as certain while it is actually uncertain, based on how information is presented.
CEM
Customer Experience Management (CEM) is the process of managing and improving the interactions and experiences customers have with a brand across all touchpoints.
Prospect Theory
A behavioral economic theory that describes how people choose between probabilistic alternatives that involve risk, where the probabilities of outcomes are known.
Founder’s Mentality
A mindset and approach that embodies the entrepreneurial spirit, passion for improvement, and deep sense of ownership typically associated with a company's founders.
Focusing Effect
A cognitive bias where people place too much importance on one aspect of an event, causing errors in judgment.