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Consumers' decision making can be reflective of that of a gambler, with regard to their aversion or willingness to take risks. The framing effect can be used to manipulate the consumers' perceived risks, and trigger preference reversals in consumers.
Identify a product that is not a market leader and develop a marketing plan for which the framing effect could be used to encourage consumers to reverse their preferences. Be sure to include relevant details of the products, as well as a description of how those could be presented.
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When the Genesis Energy and Sensible Essential teams held their weekly meeting, the time value of money and its applicability yielded an extremely stimulating discussion. Ho
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