There are eight fundamental human drivers. Each of these is based on a human psycho-emotional need. While each of these drivers is present in each individual, they do not have equal importance. Also they are achieved in different ways by different individuals. Every individual has a different…
This interesting TED talk shows some patterns we tend to use when we decide, specially in retail, and we should overcome, which are
- Comparing to the past
A) $2,000 travel to Hawaii cuts to $700, we take a week to think it, and when we go, price goes up to $1,500
B) $2,000 travel to Hawaii cuts to $1,600
Most people won’t take A), but will take B) because we compare the price of today with the price in the past, and not the price independently.
- Comparing to other products in the shelve
$27 wine perception changes from average to expensive if placed next to:
$8 wine, $27 wine, $33 wine, $39 wine
$8 wine, $22 wine, $27 wine
- % of saving by travelling:
A) A stereo costs $200, but if we drive to the next city it will cost $100
B) A car costs $40,000, but if we drive to the next city it will cost $30,900
Although saving is equal, most people do A) but not B) because they compare % of savings with costs.
- Impatience of winning in the future:
A) Win $50 now, or win $60 in a month
B) Win $50 in 12 months or $60 in 13 months
People take $50 in A) and $60 in B) although the time of waiting is the same. We tend to get impatient about decisions in the present, but forget about it if it refers to the future.
For the sake of simplicity, we’ve employed the term “advertising” in these pages, but perhaps one of the essential messages to take away from this book is that your job isn’t to create “an ad.” It’s to create something useful, entertaining or beautiful (or all of the above) on behalf of a brand.
Add ‘meaningful’ to the mix, and I’m onboard (Snorre Martinsen)
Why Future of Industry Isn’t About Making Ads - Advertising Age - News