Have you ever found yourself choosing one brand over another simply because it is better known to you? Have you noticed how bold product claims have a huge influence on people even though rational thinking would question their credibility or relevance?
These emotional biases influence us in the home and the workplace and everywhere in between. It is the subject of behavioural economics that is becoming increasingly important to business-to-business marketers.
As market researchers, we see such behavioural economics in action across every area we research. We recognise there is significant opportunity for marketers to take advantage of emotional thinking and behaviours, but it needs an understanding of different types of cognitive biases.
So, to help you identify and take control of irrational thinking, we have created a behavioural economics booklet featuring some of the more common biases influencing business professionals and consumers alike.