by innoWerft | Apr 14, 2025 | Glossary entry
Anchor pricing describes a psychological principle in which the first number mentioned - the "anchor" - influences the perception of subsequent prices. A high starting price is often deliberately set so that a subsequent offer appears particularly favourable in comparison. Consumers unconsciously orientate themselves towards this reference value, which can strongly influence their price perception and purchasing decisions. This effect is used specifically in marketing and e-commerce, for example by crossing out original prices or comparative offers.
by innoWerft | Apr 11, 2025 | Glossary entry
Crowdsourcing refers to the outsourcing of tasks, problem solving or idea generation to a large group of people - usually via the internet. Companies, organisations or individuals use the "swarm intelligence" of the crowd to obtain a wide range of contributions, for example for design proposals, translations, innovations or data analyses. Well-known platforms for crowdsourcing include Wikipedia, Kickstarter and Amazon Mechanical Turk.
by innoWerft | Apr 10, 2025 | Know-How
The decision to found a startup is much more than just an idea - it is an intensive, challenging process. When you're building a company, it's not about starting something on the side. You have to be ready to fully commit to the adventure.
by innoWerft | Apr 9, 2025 | Glossary entry
Price sensitivity is the measure of how strongly the purchasing decision of consumers or business customers changes when the price of a product or service changes. High price sensitivity means that even small price changes have a significant impact on demand behaviour - for example, through reluctance to buy or switching to the competition. In markets with low price sensitivity, other factors such as brand, quality or service are more important. Understanding the target group in terms of price sensitivity is crucial for pricing strategies, discount campaigns and product positioning.
by innoWerft | Apr 9, 2025 | Know-How
Start-ups are characterised by speed, agility and innovation. However, more and more often we hear in conversations from the scene: "We are losing valuable time due to regulatory uncertainty." EU regulations in particular, such as the Digital Markets Act (DMA) or the AI Act, pose challenges for young companies - but also offer opportunities.
