The Marketing Secrets Apple & Tesla Always Use: Rory Sutherland
The Diary Of A CEO with Steven Bartlett
00:00
Psychological Value in Marketing
Psychological value plays a crucial role in business success by focusing on how products make people feel rather than solely on technological advancements. Elevating the perception of a product can lead to success, as seen in the example of Tesla using the term 'vegan leather' to enhance its brand image. By prioritizing psychological improvements over rational ones, such as focusing on making the journey enjoyable rather than just faster, businesses can create a competitive advantage. This approach may be perceived as 'cheating' by engineers and finance professionals who undervalue psychological value, but the power of perception is shown to be a key driver in consumer behavior and product success.
Transcript
Play full episode
