Rory Sutherland, Ogilvy, on the Psychology of a Good Deal
Retail is Detail Podcast
8,502 views
Rory Sutherland, Vice Chairman of Ogilvy UK and founder of its behavioural science practice, joins host Jamie Hamer on Retail is Detail for a wide-ranging conversation on why so much of modern retail is built for a rational customer who does not exist.
He has spent three decades arguing that business fell in love with logic and forgot that customers are gloriously irrational, and that the smallest, most illogical details are the ones that quietly decide what people buy. In this episode: why the smallest change to a checkout can be worth more than a new product line, why family-owned businesses keep out-innovating the giants, why range anxiety in electric cars was never really about range, and why the finance department, not the market, is quietly killing the ideas that would have created the most value.
Rory is the author of Alchemy and the founder of Nudgestock, the world's biggest festival of behavioural science and creativity.
Chapters
00:00 Coming up
00:47 Introduction
01:49 Why baskets and trolleys change what we buy
04:41 The Japanese trolley and the Goldilocks effect
06:32 Why the finance function keeps getting it wrong
07:43 Fat tails: the case for lots of small bets
10:43 Why nobody gets fired for a defensible decision
13:07 Why family-owned businesses out-innovate the giants
24:54 Real life isn't like school
27:00 Range anxiety is an anxiety problem, not a range problem
33:43 A bonus versus a bribe
44:53 Marketers, CFOs and the wrong people holding the veto
54:33 Share a Coke and the value that spreadsheets miss
59:27 The American Express sign and the fear of rejection
01:18:27 Sloe gin, and moving a bottle to change the sale
01:23:59 Why price is a feeling, not a number
Retail is Detail is the podcast on how modern retail is actually built, hosted by Jamie Hamer.
Follow the show and let us know what you think in the comments.
#RetailisDetail #Podcast #RorySutherland #Ogilvy #Retail #BehaviouralScience #Marketing #Pricing
6 Comments
just give me a person behind the counter who i can say what i want to
Rory Sutherland, Ogilvy, on the Psychology of a Good Deal
Retail is Detail Podcast
8,502 views
Rory Sutherland, Vice Chairman of Ogilvy UK and founder of its behavioural science practice, joins host Jamie Hamer on Retail is Detail for a wide-ranging conversation on why so much of modern retail is built for a rational customer who does not exist.
He has spent three decades arguing that business fell in love with logic and forgot that customers are gloriously irrational, and that the smallest, most illogical details are the ones that quietly decide what people buy. In this episode: why the smallest change to a checkout can be worth more than a new product line, why family-owned businesses keep out-innovating the giants, why range anxiety in electric cars was never really about range, and why the finance department, not the market, is quietly killing the ideas that would have created the most value.
Rory is the author of Alchemy and the founder of Nudgestock, the world's biggest festival of behavioural science and creativity.
Chapters
00:00 Coming up
00:47 Introduction
01:49 Why baskets and trolleys change what we buy
04:41 The Japanese trolley and the Goldilocks effect
06:32 Why the finance function keeps getting it wrong
07:43 Fat tails: the case for lots of small bets
10:43 Why nobody gets fired for a defensible decision
13:07 Why family-owned businesses out-innovate the giants
24:54 Real life isn't like school
27:00 Range anxiety is an anxiety problem, not a range problem
33:43 A bonus versus a bribe
44:53 Marketers, CFOs and the wrong people holding the veto
54:33 Share a Coke and the value that spreadsheets miss
59:27 The American Express sign and the fear of rejection
01:18:27 Sloe gin, and moving a bottle to change the sale
01:23:59 Why price is a feeling, not a number
Retail is Detail is the podcast on how modern retail is actually built, hosted by Jamie Hamer.
Follow the show and let us know what you think in the comments.
#RetailisDetail #Podcast #RorySutherland #Ogilvy #Retail #BehaviouralScience #Marketing #Pricing