
The Psychological Trick Behind Every Great Ad - Richard Shotton
The Places We'll Go Marketing Show
00:00
The Psychology of Consumer Decisions
This chapter explores how psychological biases, particularly sunk costs, consistency bias, and confirmation bias, affect consumer behavior. Through various examples, including variations in marketing strategies and discount perceptions, it illustrates how these biases can lead to suboptimal choices and purchasing decisions. Additionally, it discusses the application of behavioral science in improving marketing effectiveness, focusing on concepts like social proofing and the Von Restorff effect.
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