Rory Sutherland at Verge (Lisbon)

 Pithy notes from Rory talk at Ogilvy Verge in Lisbon. 

Value is in the eye of the beholder

If it only requires you to view from a different angle to provide new value – do it.

Marketing Law came from packaged goods (however unrepresentative sample) which are have to buy products

Behaviour - was attitude towards brand that means you will move your hand a few inches along shelf

World today is not about “Have Too” purchases, you don’t need to upgrade.

Behavioural Economics. What are the short cuts that allow you to make fast purchase decisions.

Branded things tend to be better – self fulfilling.

How people go about making decisions:

Subjectivity – digital age, price differentiation possible by time of day, don’t need to sell at same price

Price is not universal

Obliquity – you cannot change human behaviour by being direct, people will not respond in the way you expect

Scare works – light touch (indirect) (creative) vs heavy handed (direct) (non-creative)

Incentive – money is not a good motivation, trade for products that they could not afford

Input and outputs have a relationship but expect disproportionality

What appears normal – maybe reset the question

Chunking – do big things in small steps (radical is hard)

“to every man who only has a hammer – everything looks like a nail”

Engineering (expensive) vs psychology (cheap) approach to a solution

Human choice – don’t offer to much (of the same), find a solution that makes choices easy and is driven by cost deduction

Test everything.

Experience/ reputation – focus on the last minutes of service

Contextual - means now

Use vomplementarity. Advesting should make you enjoy more. Peanuts at the bar.  Adding value.