"Rule No.1: Never lose money. Rule No.2: Never forget rule No.1." ~ Warren Buffett
Oct 24, 2020
We tune into television series episode after episode because we've become invested in some or all of the character's lives. Marketers and psychologists measure this on the connectedness scale - the degree to which people think a series and its characters are real.
Even if the characters are rich and live in a 25 bedroom mansion while you live in a studio apartment, you can still connect to characters on a personal level and because you wish you lived a life like theirs.
Fashion and trend forecasting is a process to predict the behaviour, buying habits and inclination of the consumer during a particular time of the year.
Apart from the age, geography, or income levels of the consumer, one has to look at the occasion, mood, beliefs, and fashion cycles and predict upcoming trends.
The calculation is done as follows: Season>Target Market>Consumer>Colors>Fabrics>Silhouette>Texture>Usage
Over the past year, it has never been easier to find something new to watch on TV. Despite so much fresh content, there is a growing trend for people to rewatch old series.
Data backs up the anecdotal evidence that 2020 (during the pandemic) was the year of the rewatch. The most streamed programme in the US was the American version of The Office.
The World Economic Forum defines competitiveness as the "set of institutions, policies and factors that determine the level of productivity of a country."
Another way to view it is to consider how it promotes wellbeing. A competitive economy is productive, leading to growth, increased income levels, and hopefully improved wellbeing.
The federal Consumer Financial Protection Bureau (CFPB) defines financial wellbeing as:
As a continuum that is not strictly aligned with income level, financial wellbeing ranges from severe financial stress to being highly satisfied with one's financial situation. Through education, opportunity, and support, people can move along the continuum to greater financial wellbeing.
According to French anthropologist Marcel Mauss, gift-giving carries many legal, moral, economical and spiritual aspects, and is significant for the whole social fabric. Many ancient cultures follow the intricate rules of gift exchange, which is not a voluntary act, but rather a comprehensive set of rules based on obligation and formality.
If a person does not take part in this obligatory ritual, he or she risks losing respect, moral authority and even wealth.
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