Here's some of his thoughts and recommended reading:
Key points:
- Value is subjective. Advertising retrieves value rather than adds it as things become more and more available, thus losing value. People value scarcity.
- Advertising retrieves the value of mass produced products.
- Change peoples choice architecture and you can change their decision.
- Advertising which says more, says less.
- Persuasion is better than compulsion. Be an advertarian.
- Self evident interest in a message defeats the purpose. People see through it.
- Agencies can add value to companies for clients without a production budget.
- Trigger moments for change – the occasion / event determines the subject’s response more than the message does because they will be more receptive to messaging at certain times and in certain contexts. Target by moment or context rather than just demographics.
- Consumer buying behaviour / psychology is both oblique and disproportionate. Disproportionality is the small, eccentric things you do that make a huge difference.
- Good definition of our business: turning human understanding into business advantage.
- Any business that has a consumer interface needs creativity.
- We are evolutionarily programmed to notice the small things. Oddities can contribute / deliver more meaning.
- Default bias – people’s behaviour is harder to change than their attitudes because people are most comfortable with what they’re already doing.
- Cookie jar accounting – nice idea for how consumers justify purchase decisions on the basis of other purchase decisions foregone.
1: Obliquity- John Kay www.johnkay.com Order: www.johnkay.com/books-ordering/
2: Nudge- Richard H. Thaler, Cass R. Sunstein Order: http://tinyurl.com/34nxvyz
3: Predictably Irrational- Dan Ariely www.predictablyirrational.com Order: http://tinyurl.com/3yc96ju
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