Chapter
The Limitations of Rational Metrics in Consumer Behaviour
1:31:28 - 1:34:27 (02:58)
Consumers may not always accurately express their desires and needs, and relying solely on rational economic logic may result in missed opportunities. Behavioural science can offer insights into the psychological element of optimization that cannot be numerically expressed.
Clips
In optimizing what consumers say they want or what economic logic might dictate, businesses may miss the real opportunities where the money is.
1:31:28 - 1:33:38 (02:09)
Behavioral Science
Summary
In optimizing what consumers say they want or what economic logic might dictate, businesses may miss the real opportunities where the money is. Behavioral science should step in to show that people don't always know what they want.
ChapterThe Limitations of Rational Metrics in Consumer Behaviour
Episode#049 - Rory Sutherland - Psychology In The World Of Advertising
PodcastModern Wisdom
This podcast discusses the idea of abandoning the need for rational justification in everything we do and opening up to the fact that sometimes illogical concepts can work better in the real world.
1:33:38 - 1:34:27 (00:48)
Alchemy
Summary
This podcast discusses the idea of abandoning the need for rational justification in everything we do and opening up to the fact that sometimes illogical concepts can work better in the real world.