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

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It's a little short, but concise, when it finally gets started. I can say there's nothing in here I didn't cover in my undergrad in some place or another, and nothing that won't be known to experienced marketers, but they're good reminders of the 'basics' and each serves as an entry point into a much deeper well of research.

Fascinating, well written, and super-practical: Shotton walks us through a series of cognitive and behavioural biases that leave us in no doubt that we are not the rational beings we like to think we are. It presents rigorous science and evidence lightly, with an accessible style – I particularly liked the device of the ‘everyday in the life of the reader’ story that introduces each chapter, showing how the bias in question plays out in familiar contexts. Tech giant Uber's success with the application of psychological principles...and where it might fail due to the consumer's inherent bias towards 'punishing unfairness' Nudges do not change all people, all the time. Different people will react to a nudge in different ways. 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. 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.

Richard delivers a wealth of cases proving the efficacy of working with, rather than against, the grain of human nature. This is catnip for the industry." --Phil Barden, author ofDecoded: The Science Behind Why We Buy How do we make decisions about brands and products? What’s the power in targeting by mood and situation? Why should we be cautious to oversimplify metrics? Globally renowned expert on applying behavioural science in marketing – and author of ‘The Choice Factory’ and ‘The Illusion of Choice’– Richard Shotton shares frameworks for navigating the… Read more » The Choice Factory is both practical and deeply profound due to Richard Shotton's expertise from extensive research as well as from advertising. When a large number of people are invited to guess something, their average is often very close to reality. Likewise in an auction where the price is not known. It must therefore mean that the person who wins is bidding over what the rest of the bidders think is the right price. Likewise programmatic media auctioning means marketers are paying over the odds.

Ad design suffers because the way brand managers approve ads is at odds with how consumers experience them. These choices might appear to be freely made, but psychologists have shown that subtle changes in the way products are positioned, promoted and marketed can radically alter how customers behave. This theory also suggests that consumers believe that products involve a trade-off. So, improved eco-friendliness entails a loss in effectiveness. So, you need to investigate the set of expectations associated with your positioning. 12. Confirmation Bias Comparethemarket was how small their marketing team was. They had a tight group of two or three decision-makers. I’m sure this was a factor in their success.As price conveys quality, companies and brands should invest disproportionately in their higher end goods. 22. The Replicability Crisis Jonathan Haidt says “The conscious brain thinks it is the Oval Office but it is actually the press office.” About Vision One Please select from one of the following on the left. 1. About Vision One (Why us, the team), 2. Latest news and articles, 3. Take part in research (The Lounge).