Advertising can perform this kind of alchemical trick of turning literally turning a weakness into a strength by telling a different story about it. That will be Avis, for example, we're number two in rental cars is an ad for Hertz. But you add four words that say, so we try harder and make the distinction about customer service and effort rather than scale. With a name like Smuckers, it must be good, Jim. Brilliant. And we had reassuringly expensive was the stellar art to our larger brand in the UK.
Author and Advertising Executive Rory Sutherland of Ogilvy talks about his book Alchemy with EconTalk host Russ Roberts. Sutherland makes the case for the magic (yes, magic!) of advertising and branding in helping markets work well. This is a wide-ranging conversation on consumer choice, public policy, travel, real estate, and corporate decision-making using insights from behavioral economics and decades of experience in the world of advertising.