As we all become better educated, including our customers, practical knowledge of psychology is required. Being truthful and reliable is insufficient for success. If we don't anticipate our customers' reactions, our competition will.
The Discipline of Innovation: If the Internet is a Psychology Experiment, Are You a Psychologist?, 2014-Jul-1 by Tim Kastelle
I’ve argued for a more Bayesian approach to strategy in which we’re not trying to “get it right” as much as we are trying to become less wrong over time. That requires a more adaptive approach, but also substantive differences in how we operate—less hierarchical, more agile, and more sensitive to changes in the marketplace.