That said, this is not a serious academic book (I think his experiments would not stand up to proper scientific scrutiny). I rate Kahneman’s ‘Thinking fast and slow’ as a significantly better book about Behavioural Economics, but this is a much easier book to read and understand.

In Hanoi, there was an outbreak of bubonic plague. To try to contain it, the French Colonials offered a small reward for every rat’s tail. This led to people cutting off the tails and then letting the tail-less rats go free. Beware getting trapped by your own paradigms —Ad agencies are guilty of this. They ‘believe’ certain things about what makes for great ads and then choose to ignore any evidence that counters that view. Ad design suffers because the way brand managers approve ads is at odds with how consumers experience them.The book "The Choice Factory" by Richard Shotton explores and explains the trends behind consumer behavior. With marketing technology now central to marketing strategy, CMOs face a number of challenges as they look to improve the customer experience. In a competitive market economy, performance is fundamentally relative, not absolute. Meaning competition, and other factors play a key factor in performance. It’s your task to pinpoint these moments of inattention. When targeting rejecters, brands should prioritise media such as radio, which tend to be consumed while people are doing something else.

Ads watched in groups of three and six were reported to be 21% and 10%, funnier than those watched alone. However, since this isn’t explicitly stated, the brain’s capability isn’t activated. Instead, the beautiful strains of the Flower Duet insinuate luxury by association. It’s better to base marketing decisions on experiments of Nobel Laureates than on the opinion of the most eloquent person in the board room.Anyone who claims to have found laws of business physics either understands little about business, little about physics or little about both.” – Phil Rosenzweig. I have long thought that the cycling industry is far too addicted to discounting, and I am as guilty as the next person. However, at the beginning of 2020, we began to focus on other areas at the JamesSmithGroup. Bob Levenson, the copywriter behind many of the great Volkswagen ads, gave practical tips on how to adopt a personal tone of voice.He recommended that you should write your ads to a close friend. 25. Scarcity Force yourself to be a real consumer — In judging creative work, agency and clients pore over every inch whilst normal people just give it a passing glance (Research by Lumen suggests on-line ads are looked at for 0.9 sec on average — with just 4% spending more than 2 seconds on an ad). He recommends research methodologies that more closely mimic real life behaviour ( http://www.posterscope.com/virtuocity/).