In 2000, two psychologists from Columbia and Stanford University conducted an interesting study about human behaviour when faced with a multitude of product choices: The Jam Experiment.
They discovered that when people were presented with 24 different types of jams to choose from at a local food market, they were less likely to buy any jam at all than when they were only given 6 different types of flavours.
In this episode, Franziska shares how you can apply the jam experiment in your business.
Highlights:
0:00 Why some businesses struggle
0:38 The jam experiment
1:37 The Paradox of choice
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