Rory Sutherland: The Psychology of Advertising
The Knowledge Project with Shane Parrish
00:00
Defining Marketing and Understanding Satisficing
Marketing can be seen as costly signaling of faith in the future./nThe goal of decision-making is often to avoid disaster, not to attain perfection./nPeople are willing to pay more for brands because they perceive them as safer options./nJoel Raffleson, a contemporary of David Ogilvy, was close to understanding satisficing in marketing.
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