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Psychology in Business Case Report (Example)

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Name Course Tutor Date To the CEO Starbucks Psychological and Neuroscientific Phenomena for Profitability at Starbucks This paper focuses on the psychological and neuroscientific aspects that Starbucks can implement to improve their profitability and the company as a whole. Business profitability is the driving wheel behind the most successful business. Profitability is a two-way phenomenon; how much you inject corresponds to how much you reap. It is therefore crucial to inject wisely since the outcome is always a gamble determined by the method of injection. In general direct injection does not guarantee a direct harvest. The psychology behind every business is to make buyers attracted. This is more of a cognitive game than an attraction game. In broader perspectives business success is not a product of a beautiful product it is rather a product of the identify with Starbucks the Beverage and Snacks business becomes a goldmine in a short period. However this idea is subject to dynamics of identification. Therefore the company would need to change the celebrity or the public figure from time to time to increase both curiosity and will to purchase. In conclusion psychological and neuroscientific phenomena like the reward system could bear much fruit to the company. However such events are apparent across the industry. What Starbucks needs is a pricing decision making and marketing strategy that is likely to offer progressive results. This is provided for by the illusion of transparency as far as decision making is concerned the psychological pricing and the price point phenomena for pricing strategies and lastly the social comparison theory for advertising strategy. Your name Psychology consultant Email address Mobile number [...]

Order Description:

In this assignment, you are assigned the role of ‘psychology’ consultant, and tasked with the objective of helping an organization optimize its profitability by utilizing psychological/neuroscientific phenomena. You will make an informed written ‘pitch’ to a CEO of a major company (see below) about how their company can be improved by utilizing 1-3 psychological/neuroscientific insights of your choice. Its really important to follow these instructions and it should be checked in turnitin The first phenomena should be "Illusion of transparency" and second one you can choose

Subject Area: Psychology

Document Type: Reports

This project has already been completed by one of the Studybay experts. The client rated this project:

Project's rating is 5/5

Price $30

Words 825

Pages 3

Completed in 3 days

Expert Richard Y

Client Review

Its a great job


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