drive sales by embracing the irrational, biased consumer

Consumer decision making is more often than not – less than rational. That said – it is also more often than not – predictable – and if we can predict it, we can usually manage it or even leverage it.  Understanding predictably irrational behaviour can assist cost-effective marketing. Consider! To boost sales, present your product […]

Consumer decision making is more often than not – less than rational. That said – it is also more often than not – predictable – and if we can predict it, we can usually manage it or even leverage it.  Understanding predictably irrational behaviour can assist cost-effective marketing. Consider! To boost sales, present your product as having a specific purpose and benefit, rather than a more generalised benefit. Imagine two scenarios, each with two options tested with separate samples of consumers: Scenario 1 – consumers can purchase a specialist earthquake insurance policy or a general insurance policy which includes an identical level of earthquake coverage – for exactly the same price Scenario 2 – the consumer can choose between two travel insurance policies – one with specialist terrorism cover and the other with general cover, including the same level of terrorism cover.  In studies completed by Nobel Prize winner Daniel Kahneman,…

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Five Tips For Reducing
The Cost Of Branding.

Burning money on branding is more common than most marketers think. Because few businesses truly understand what a brand is and how branding works, advertising agencies, branding agencies and design studios have become expert at spending their client’s money without effective accountability.

Burning money on branding is more common than most marketers think. Because few businesses truly understand what a brand is and how branding works, advertising agencies, branding agencies and design studios have become expert at spending their client’s money without effective accountability.

1. Get out of the boardroom.

Perhaps the two most concerning issues about branding are the lack of understanding about what brand and branding are and the propensity to develop brands in the boardroom, perhaps with the help of a consultant.....

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