Friday, 15 June 2012

A Simple Trick With Color To Make People Buy Your Stuff

Bidders at auction
Joe Raedle/Getty Images
Everyone knows that different colors influence our moods in different ways, but they also may affect how much we spend on products.
According to a recent study from Rajesh Bagchi, Pamplin College of Business and Amar Cheema, McIntire School of Commerce, seeing the color red increases aggression and makes us bid higher on products during auctions. This can make a big difference if you're selling your items on eBay and want to motivate buyers to bid higher and quicker.
However, in negotiations and fixed price situations, red tends to make buyers bid lower; calmer colors like blue are better used in these situations.
All of this can be a very useful and easy way to maximize your sales, whether online or at a physical store according to the paper:
Our results suggest that incidental exposure to color on webpage backgrounds or on walls in brick-and-mortar stores can affect willingness-to-pay. Our findings therefore have important implications for website and store design. It is fairly straightforward to change background colors of websites and firms could even customize colors based on selling mechanism and product characteristics. For instance, in situations where consumers compete with each other to buy a scarce or a limited edition product, firms may increase consumers’ willingness-to-pay by exposure to red versus blue backgrounds. By contrast, in situations where a product is readily available and the consumer competes with the seller to get a lower price through extended price search or through haggling, consumers’ willingness-to-pay may be enhanced via exposure to blue versus red color backgrounds.

Obama Administration To Stop Deporting Younger Undocumented Immigrants And Grant Work Permits

Illegal Immigration Obama
WASHINGTON -- The Obama administration will stop deporting and begin granting work permits to younger undocumented immigrants who came to the U.S. as children and have since led law-abiding lives. The election-year initiative addresses a top priority of an influential Latino electorate that has been vocal in its opposition to administration deportation policies.
The policy change, described to The Associated Press by two senior administration officials, will affect as many as 800,000 immigrants who have lived in fear of deportation. It also bypasses Congress and partially achieves the goals of the so-called DREAM Act, a long-sought but never enacted plan to establish a path toward citizenship for young people who came to the United States without documents but who have attended college or served in the military.
Homeland Security Secretary Janet Napolitano was to announce the new policy Friday, one week before President Barack Obama plans to address the National Association of Latino Elected and Appointed Officials' annual conference in Orlando, Fla. Republican presidential challenger Mitt Romney is scheduled to speak to the group on Thursday.
Under the administration plan, undocumented immigrants will be immune from deportation if they were brought to the United States before they turned 16 and are younger than 30, have been in the country for at least five continuous years, have no criminal history, graduated from a U.S. high school or earned a GED, or served in the military. They also can apply for a work permit that will be good for two years with no limits on how many times it can be renewed. The officials who described the plan spoke on the condition of anonymity to discuss it in advance of the official announcement.
The policy will not lead toward citizenship but will remove the threat of deportation and grant the ability to work legally, leaving eligible immigrants able to remain in the United States for extended periods.
"Many of these young people have already contributed to our country in significant ways," Napolitano wrote in a memorandum describing the administration's action. "Prosecutorial discretion, which is used in so many other areas, is especially justified here."