Before you can influence decisions, you need to understand what drives them. In The Choice Factory, Richard Shotton sets out to help you learn. By observing a typical day of decision-making, from trivial food choices to significant work-place moves, he investigates how our behaviour is shaped by psychological shortcuts. With a clear focus on the marketing potential of knowing what makes us tick, Shotton has drawn on evidence from academia, real-life ad campaigns and his own original research. The Choice Factory is written in an entertaining and highly-accessible format, with 25 short chapters, each addressing a cognitive bias and outlining simple ways to apply it to your own marketing challenges. Supporting his discussion, Shotton adds insights from new interviews with some of the smartest thinkers in advertising, including Rory Sutherland, Lucy Jameson and Mark Earls. From priming to the pratfall effect, charm pricing to the curse of knowledge, the science of behavioural economics has never been easier to apply to marketing. The Choice Factory is the new advertising essential. TARGET READERSHIPThose working in advertising agencies and marketing departments. Those with a general interest in social psychology, behavioural science and buying behaviour.
Richard Shotton's application of behavioural economics is bang on the button. This book is timely, insightful, fascinating and entertaining. --Dominic Mills, ex-editor of Campaign
PrefaceIntroductionThe 25 Biases1. The Fundamental Attribution Error2, Social Proof3. Negative Social Proof4. Distinctiveness5. Habit6. The Pain of Payment7. The Danger of Claimed Data8. Mood9. Price Relativity10. Primacy Effect11. Expectancy Theory12. Confirmation Bias13. Overconfidence14. Wishful Seeing15. Media Context16. The Curse of Knowledge17. Goodhart's Law18. The Pratfall Effect19. Winner's Curse20. The Power of the Group21. Veblen goods22. The Replicability Crisis23. Variability24. Cocktail Party Effect25. Scarcity EthicsConclusion ReferencesFurther reading Index