Hyperbolic Discounting

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4. They Want It Now “Hyperbolic Discounting. ,” is a fancy word meaning people want what they want and they want it now, not later. This is another cognitive bias that’s ingrained in us, which many times causes us to defy logic and ignore common sense.
Credit cards are one example. When they came about, we then had a way of buying something, for which we had no money, and we could worry about paying for it later.
In simple terms, if someone offered you $50 today and then gave you the choice of getting $100 if you wait for a year, the vast majority of people would take the $50 now. However, when you change the time factor, it sometimes changes the outcome.
If someone, offered you the same $50 today or you can receive $100 if you wait only a week, that would be a different story. Most people would be willing to
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You find a way to divide your products into groups. An example would be a department store. Of course, they don’t just put all the products out randomly on shelves. How would we ever find what we want? They sort them in like kinds such as women’s clothing, children’s clothing, or men’s shoes.
They then separate those groups into more groups such as women’s dresses and women’s slacks. Those groups are then separated into sizes. There is usually a sales rack as well. If you have a considerable amount of products, find a way to use the same grouping concept.
If you have an intangible product such as insurance or marketing programs, you may be able to put them in groups such as age, income, or price range. Ask your client questions to find a way to guide them in the right direction, which may further enable them to choose.
The process of elimination can sometimes help, depending on the product.
 Do not allow them to even see items that do not pertain to them or that wouldn’t benefit
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