4 ms·
There is also "satisficing" (vs. maximizing). Your model of the world is not perfect so instead of trying to find a globally optimal solution, you are satisfie
by d0mine 2y ago
There is also "satisficing" (vs. maximizing).
Your model of the world is not perfect so instead of trying to find a globally optimal solution, you are satisfied with a local optimum that exceeds some threshold that has to suffices.
https://en.wikipedia.org/wiki/Satisficing https://en.wikipedia.org/wiki/Satisficing
- hammock 2y agoLove that. Well-done marketing* can orient a consumer into a preferred "local optimum territory" , leading to satisfiction(?) and sales * For example, the limited selection of candy at the checkout aisle. All you have to do is get your brand in there. (Placement on the 4P's) * Or, "best credit card for travelers." By offering travel rewards, you can acquire a group of cardmembers even if, e.g. a more valuable cashback card could have gotten them even greater benefits (Promotion on the 4P's)