BackI worked in advertising from 1989 to 2013. While it was most certainly the least rewarding period of my life, it was also a valuable learning experience as I witnessed first-hand the decline of a once-powerful industry. More importantly, I witnessed first-hand an unnecessary reliance on advertising by marketing managers who know no better and ...
STILL MORE ON STUPID MARKETING DECISIONS
Drop your arrogance and certainty – think again and again. The Blackberry was a Canadian product, launched in 1984. In the late 1990's and early 2000's engineers went to John S Chen, the CEO and Chairman of Blackberry and told him that the smartphone would kill his product. Chen brushed them off, suggesting that consumers would ...
MORE ON STUPID MARKETING DECISIONS
Stop thinking your customers decide rationally – because they don't. Rational thinking, or what Kahneman calls 'slow thinking', occurs in the frontal cortex or conscious mind. Irrational 'thinking' or what Kahneman called 'fast thinking' occurs in the brain stem or limbic system or unconscious part of the mind. Some call irrational thinking – 'bottom up' thinking and rational ...
TOO MANY STUPID DECISIONS
Stop Thinking You Are Smarter Than You Are. Remember Dunning-Kruger. A few years ago, I had the occasion to meet with a neuroscientist at a prominent university. We had a fruitful and most interesting discussion of work he was doing commercially and in his academic role to understand how human beings, more specifically consumers, process and ...
MANAGING THE BEHAVIOUR OF CUSTOMERS AND POTENTIAL CUSTOMERS
Empathy is a key to understanding and engaging customers and potential customer. It can also be a key to managing their behaviour to drive the lifetime value of each customer. Walk a mile in their shoes – then you can communicate WITH them. At US airline JetBlue genuine empathy for a customer starts when the staff (providing ...
