Chapter
Honesty in Profession Helps to Ensure Quality
06:47 - 13:22 (06:34)
Conditions of entry into professions helps to ensure honesty because being thrown out of the guild or losing a license is not worth the effort put into it; this is why honest cab drivers would go through the lengthy process of getting licensed.
Clips
The stringent requirements of guilds in medieval times ensured honesty and commitment to the job, and a similar logic applies to the process of becoming a cab driver or picking your own strawberries, which may create a sense of pride and certainty in the product's quality.
06:47 - 09:17 (02:29)
Summary
The stringent requirements of guilds in medieval times ensured honesty and commitment to the job, and a similar logic applies to the process of becoming a cab driver or picking your own strawberries, which may create a sense of pride and certainty in the product's quality.
ChapterHonesty in Profession Helps to Ensure Quality
EpisodeE165: The Marketing Secrets Apple & Tesla Always Use: Rory Sutherland
PodcastThe Diary Of A CEO with Steven Bartlett
Consumers may not trust a product that's priced too cheaply unless there is a narrative around cost savings to explain the low price.
09:17 - 10:25 (01:08)
Summary
Consumers may not trust a product that's priced too cheaply unless there is a narrative around cost savings to explain the low price. EasyJet used constraints to make its low prices believable to consumers.
ChapterHonesty in Profession Helps to Ensure Quality
EpisodeE165: The Marketing Secrets Apple & Tesla Always Use: Rory Sutherland
PodcastThe Diary Of A CEO with Steven Bartlett
The effort that one puts into buying or assembling a product can increase its perceived value and popularity.
10:25 - 12:20 (01:55)
Summary
The effort that one puts into buying or assembling a product can increase its perceived value and popularity. This phenomenon, known as the Ikea effect, was first observed in a famous marketing case study for Betty Crocker cakes.
ChapterHonesty in Profession Helps to Ensure Quality
EpisodeE165: The Marketing Secrets Apple & Tesla Always Use: Rory Sutherland
PodcastThe Diary Of A CEO with Steven Bartlett
The speaker discusses the psychological appeal of meal delivery kits such as Gusto or HelloFresh, which offer pre-measured ingredients that the consumer combines and cooks themselves, giving them the feeling of having cooked a full meal without having to go grocery shopping or measure ingredients.
12:20 - 13:22 (01:01)
Summary
The speaker discusses the psychological appeal of meal delivery kits such as Gusto or HelloFresh, which offer pre-measured ingredients that the consumer combines and cooks themselves, giving them the feeling of having cooked a full meal without having to go grocery shopping or measure ingredients. The speaker also explores the concept of "experience goods" and how consumers often cannot perceive a product's value until they use it themselves.