Predictably Irrational: The Hidden Forces that Shape Our Decisions, by Dan Ariely, Professor of Economics at MIT is on my list of must-reads.
Did you know that a sugar pill provides more relief when priced at $2.50 than at 10¢?
If you offer Hersey Kisses at 1¢ and a Lindt truffle at 14¢, which product will most people buy?
If the Kiss was Free, which would most people choose?
These questions intrigue me. That people act as much out of emotion, irrationality and the perception of value as from applied reason is proof to me that marketing is an art and not a science.
See the outcome of the Kiss experiment, followed by a lively discussion at Marginal Revolution.
Related Posts:
How to Sell a House With a Mercedes Benz : 10 Perception Marketing Principles.
From the Bookshelf: The Economic Naturalist
Technorati Tags: marketing, behavior economics, perception marketing, Predictably Irrational, Ariely
Sounds like Dan Ariely is on the same wave length as Michael Shermer, who spoke at Inman Connect. His thoughts about the way people think about money are very similar. Very interesting!