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The Choice Factory: 25 behavioural biases that influence what we buy

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Prioritise group viewing moments — Research has shown that in groups, people experience more highs and lows of emotions than when watched alone. Films, documentaries, and news are twice as likely to be watched with others than other types of programming.

The book "The Choice Factory" by Richard Shotton explores and explains the trends behind consumer behavior. Dave Trott - creative director, author of Predatory Thinking and founder of three creative agencies What works best in the short term (especially in advertising) is not always what is best in the long term. Marketers are focusing on easy to gain metrics than the more difficult ones (cf the great Einstein quote,” Not everything that counts can be counted, and not everything that can be counted counts” — Ed) If a brand establishes a strong association with one positive characteristic it will colour other attitudes. – Instead focus on the values that are easiest to be associated with.Our behaviour is heavily influenced by the environment we are in (we underestimate the importance of context over personality). When the prices were shown as a daily figure they were five times more likely to be rated as a great deal than when they were shown annually. For example Brand Purpose — there is ‘evidence’ on both sides for and against Brand Purpose. Shotton does not support Brand Purpose so goes to great lengths to discredit the evidence from one source (Jim Stengel’s book, ‘Grow’). Match the bias to the task — Not all cognitive biases are effective for all subject matters. So again, one needs to test to find out which biases are most appropriate for the task in hand.

Advertising has much to learn from biology, especially the theory of imprinting discovered by Lorenz. This theory suggests that consumers have short windows of opportunity during which they can be influenced. Our research suggests that one of these times is after key life events. Richard Shotton's application of behavioural economics is bang on the button. This book is timely, insightful, fascinating and entertaining." --Dominic Mills, ex-editor ofCampaign A top-class guide for those who want to put BE to work, rather than just illuminate their journey to work. Author of The Choice Factory and founder of Astroten, a consultancy that applies findings from behavioural science to improve marketing.Shake consumers out of their automatic behaviour — wake them out of their habitual trance to help them make new choices. Cf Sainsbury’s ad with Jamie Oliver where talks about people ‘sleep shopping’. For example, cinema ads, perhaps the medium that gets the highest attention, trades at a five times the cost of TV. By targeting distraction you benefit twice. First, you’re more likely to overturn misconceptions and second you pay less for the pleasure.

The key point about the cobra effect is that when you set a naïve target, it encourages behaviour that superficially meets that target, rather than the underlying goal. Beware the ‘maximiser’ philosophy — Herbert Simon, a Carnegie Mellon Psychologist, suggests most people are ‘Satisficers’ (i.e., “It’ll do” mentality. They are not looking for perfection and are more driven to avoid the negative of a product being rubbish). However, most marketers tend to be ‘Maximisers’ – in that they are so obsessed with their product they focus on micro differences their brand has versus other brands. Frankly, that goes way over the heads of most people as consumers are not making that level of subtle distinction in their choices. The Illusion of Choice identifies the 16½ most important psychological biases that everyone in business needs to be aware of today – and shows how any business can take advantage of these to win customers, retain customers and sell more.

In fact, Richard’s book “The Illusion of Choice: 16 ½ psychological biases that influence what we buy” is a treasure trove of research and anecdotes which bridge the gap between the very technical world of academia and the “wild” application of behavioral science in real world marketing.

Insight work doesn’t need to be expensive and it doesn’t need to be complex. There’s no excuse not to better understand the buyer. There are two types of norm: those referring to how you should behave, called injunctive norms, and those describing how most people behave, known as descriptive norms. Allow room for discretion — We need to use data to help make better decisions but not be blinkered and blinded by the data. Book Genre: Buisness, Business, Communication, Design, Economics, Language, Nonfiction, Psychology, SociologyDevelop a portfolio — Price conveys a perception of quality. So over-invest in supporting your premium ranges as this perception of quality will halo across the rest of the brand. Consumer Research Knowing your customers is arguably the most important step you can make as a marketer. We help you go further to help you optimise your marketing strategies. In a competitive market economy, performance is fundamentally relative, not absolute. Meaning competition, and other factors play a key factor in performance.

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