Rory Sutherland on Why Marketing Is the Answer to Economic Growth
Category Problems
- Marketing people have opportunities to look at category problems that don't have a media budget attached.
- New technology negatives are salient while positives are invisible.
- New and frightening things are scarier than old things.
- Range anxiety in electric cars has two components: range and anxiety.
- It's cheaper to reduce anxiety than
Uncensored CMO • Rory Sutherland on Why Marketing Is the Answer to Economic Growth
Contextual Decision-Making
- People make decisions based on context, which explains why behavioral economics experiments sometimes fail to replicate.
- Changing the booking button from 'find flights' to 'find my flights' increased sales by approximately five percent.
- Instead of trying to change the minds of a million people, consider changing the contex
Uncensored CMO • Rory Sutherland on Why Marketing Is the Answer to Economic Growth
Value of the Advertising Process
- The most valuable aspect of advertising might be the strategic thinking required to produce the advertisement itself, not the final product.
- This process forces businesses to address fundamental questions about their purpose, differentiation, and value proposition.
- Rushing to a cheap, adequate result via AI shortcuts