Episode
#049 - Rory Sutherland - Psychology In The World Of Advertising
1:34:41
Published: Mon Jan 28 2019
Description
Rory Sutherland is the Vice Chairman of Ogilvy Advertising, an author & a writer for The Spectator. Causing some form of behavioural change is the goal of all advertising and whoever holds the keys to understanding consumer psychology has an incredibly powerful tool at their disposal. Rory is one of the world's most influential advertising professionals and this episode is nothing short of gold for anyone who is a consumer, or advertises to them. More Stuff: Follow Rory on Twitter - https://twitter.com/rorysutherland Buy Rory's New Book Alchemy - https://amzn.to/2HdiUPL Check out everything I recommend from books to products and help support the podcast at no extra cost to you by shopping through this link - https://www.amazon.co.uk/shop/modernwisdom - Get in touch. Join the discussion with me and other like minded listeners in the episode comments on the MW YouTube Channel or message me... Instagram: https://www.instagram.com/chriswillx Twitter: https://www.twitter.com/chriswillx YouTube: https://www.youtube.com/ModernWisdomPodcast Email: https://www.chriswillx.com/contact
Chapters
The speaker expresses their opinion on how capitalism and evolution cause unexpected successes and failures, including asexual reproduction, and the unlikelihood of the success of Wikipedia if presented as a business pitch.
00:00 - 04:43 (04:43)
Summary
The speaker expresses their opinion on how capitalism and evolution cause unexpected successes and failures, including asexual reproduction, and the unlikelihood of the success of Wikipedia if presented as a business pitch.
Episode#049 - Rory Sutherland - Psychology In The World Of Advertising
PodcastModern Wisdom
The rise of dash cams in Russia has led to a disproportionate amount of YouTube videos showcasing dangerous driving in the country.
04:43 - 14:23 (09:39)
Summary
The rise of dash cams in Russia has led to a disproportionate amount of YouTube videos showcasing dangerous driving in the country. However, technology, such as dash cams, has also played a positive role in promoting safe driving and preventing insurance fraud.
Episode#049 - Rory Sutherland - Psychology In The World Of Advertising
PodcastModern Wisdom
The design for disabled or elderly people can be useful and interesting as it can also be used for common people.
14:23 - 22:00 (07:36)
Summary
The design for disabled or elderly people can be useful and interesting as it can also be used for common people. For instance, wheelchair ramps were intended for wheelchairs but then became useful for wheeled luggages as well.
Episode#049 - Rory Sutherland - Psychology In The World Of Advertising
PodcastModern Wisdom
The evolution of technology can lead to brilliant and innovative outcomes but can also lead to "dumb runaway" situations like the costly practice of typing a document multiple times on a typewriter, which was eliminated by the word processor.
22:00 - 27:03 (05:03)
Summary
The evolution of technology can lead to brilliant and innovative outcomes but can also lead to "dumb runaway" situations like the costly practice of typing a document multiple times on a typewriter, which was eliminated by the word processor.
Episode#049 - Rory Sutherland - Psychology In The World Of Advertising
PodcastModern Wisdom
In this episode, the host discusses the different methods of communication and their efficiencies, while examining old advertisements for tea kettles.
27:03 - 34:43 (07:40)
Summary
In this episode, the host discusses the different methods of communication and their efficiencies, while examining old advertisements for tea kettles.
Episode#049 - Rory Sutherland - Psychology In The World Of Advertising
PodcastModern Wisdom
The United States economy holds a significant advantage in its productive capacity and nature of inhabitants, who are seen to be quite credulous sometimes, allowing for continuous improvement and growth over time for even the poorest people in society.
34:45 - 43:33 (08:47)
Summary
The United States economy holds a significant advantage in its productive capacity and nature of inhabitants, who are seen to be quite credulous sometimes, allowing for continuous improvement and growth over time for even the poorest people in society.
Episode#049 - Rory Sutherland - Psychology In The World Of Advertising
PodcastModern Wisdom
The speaker reflects on how his student loan impacted his education and his ability to start a business, prompting him to question the value and purpose of higher education and student loans in modern society.
43:33 - 48:21 (04:48)
Summary
The speaker reflects on how his student loan impacted his education and his ability to start a business, prompting him to question the value and purpose of higher education and student loans in modern society.
Episode#049 - Rory Sutherland - Psychology In The World Of Advertising
PodcastModern Wisdom
The use of tropes in advertising is necessary due to time constraints, but there is also a problem with stereotyping.
48:21 - 55:51 (07:29)
Summary
The use of tropes in advertising is necessary due to time constraints, but there is also a problem with stereotyping. The importance of small businesses should not be understated as they contribute greatly to day-to-day human life.
Episode#049 - Rory Sutherland - Psychology In The World Of Advertising
PodcastModern Wisdom
The advertising and communications industry is predicted to have a majority female workforce at all levels and in most departments, except for the creative department, as more women take on management roles in these sectors.
55:51 - 1:02:55 (07:03)
Summary
The advertising and communications industry is predicted to have a majority female workforce at all levels and in most departments, except for the creative department, as more women take on management roles in these sectors. However, the creative department is expected to move closer to a 50-50 gender balance in the next 20 years.
Episode#049 - Rory Sutherland - Psychology In The World Of Advertising
PodcastModern Wisdom
A theory behind the gender gap in STEM fields is that women tend to excel in a wider range of subjects, whereas men who are less successful in history, English, and language subjects tend to gravitate towards STEM.
1:02:55 - 1:07:04 (04:08)
Summary
A theory behind the gender gap in STEM fields is that women tend to excel in a wider range of subjects, whereas men who are less successful in history, English, and language subjects tend to gravitate towards STEM.
Episode#049 - Rory Sutherland - Psychology In The World Of Advertising
PodcastModern Wisdom
The obsession of using data to make marketing more efficient has caused a misunderstanding of what marketing truly is, a nuanced approach to delivering a message to the market.
1:07:04 - 1:14:07 (07:03)
Summary
The obsession of using data to make marketing more efficient has caused a misunderstanding of what marketing truly is, a nuanced approach to delivering a message to the market.
Episode#049 - Rory Sutherland - Psychology In The World Of Advertising
PodcastModern Wisdom
The power of data is becoming increasingly important in today's world as it becomes the driving force behind major tech companies and their business models.
1:14:07 - 1:18:28 (04:20)
Summary
The power of data is becoming increasingly important in today's world as it becomes the driving force behind major tech companies and their business models. While Google and Facebook may claim a monopoly on data, the true value lies in the ability of data to do things.
Episode#049 - Rory Sutherland - Psychology In The World Of Advertising
PodcastModern Wisdom
The unwritten rules of driving in the UK include driving a bit faster than the cars on your left on multi-lane motorways and not imposing a speed limit on dual carriageways.
1:18:28 - 1:21:10 (02:42)
Summary
The unwritten rules of driving in the UK include driving a bit faster than the cars on your left on multi-lane motorways and not imposing a speed limit on dual carriageways. Additionally, commercial vehicles have a national speed limit of 50 miles per hour.
Episode#049 - Rory Sutherland - Psychology In The World Of Advertising
PodcastModern Wisdom
The speaker ponders the digital equivalent of traditional forms of advertisement, like sponsoring the Olympics or taking the back page of Vogue, and suggests creating a Netflix series or utilizing Facebook as potential options.
1:21:10 - 1:27:52 (06:41)
Summary
The speaker ponders the digital equivalent of traditional forms of advertisement, like sponsoring the Olympics or taking the back page of Vogue, and suggests creating a Netflix series or utilizing Facebook as potential options.
Episode#049 - Rory Sutherland - Psychology In The World Of Advertising
PodcastModern Wisdom
The focus on optimization in digital often overlooks potential problems and failures.
1:27:52 - 1:31:28 (03:36)
Summary
The focus on optimization in digital often overlooks potential problems and failures. This can be problematic as it fails to account for the inevitable glitches and errors that come with any system.
Episode#049 - Rory Sutherland - Psychology In The World Of Advertising
PodcastModern Wisdom
Consumers may not always accurately express their desires and needs, and relying solely on rational economic logic may result in missed opportunities.
1:31:28 - 1:34:27 (02:58)
Summary
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.