Episode
31
Rory Sutherland, Ogilvy, on the Psychology of a Good Deal and Why Price Is a Feeling
Summary
Transcript
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Rory Sutherland has spent three decades arguing that business fell in love with logic and forgot that customers are gloriously irrational. As Vice Chairman of Ogilvy UK and founder of its behavioural science practice, he has made a career out of the small, illogical details that quietly decide what people buy. What they perceive as a "good deal" and why.
He joins host Jamie Hamer for a wide-ranging conversation on why so much of modern retail is built for a rational customer who does not exist. Why the smallest change to a checkout can be worth more than a new product line. Why family-owned businesses keep out-innovating the giants. Why range anxiety in electric cars was never really about range. And why the finance department, not the market, is quietly killing the ideas that would have created the most value.
About Ogilvy
Ogilvy is one of the world's most influential advertising and marketing agencies, founded by David Ogilvy in 1948 and now operating across more than 80 countries. Long associated with the idea that great advertising is built on understanding the customer, it is also the home of Ogilvy's behavioural science practice, which Rory Sutherland co-founded in 2012.
About Nudgestock
Nudgestock is the annual festival of behavioural science and creativity founded and hosted by Rory Sutherland, widely billed as the biggest event of its kind in the world. Running since 2013, it brings together marketers, psychologists and behavioural economists to explore why people really behave the way they do. Past speakers include Daniel Kahneman, Richard Thaler and Jonathan Haidt.
Jamie Hamer
Host, Retail is Detail Podcast
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