Decoded is one of the very first books to fully embrace Daniel Kahneman’s view of human decision-making and apply this to marketing and market research. It is full of examples of the practical implications of behavioral economics on shopper behavior, backed by references to many of the key scientific papers that can help explain what marketers need to know about the science of decision making. It is backed by 25 years of experience both as decision scientist working with clients and a marketing professional applying the principles at Unilever, Diageo and T-Mobile.
I’ve been intrigued reading about the J.C. Penney debacle. While I think there is a lesson to be learnt about the communication of promotions, I don’t believe the lesson is that simplicity does not work. In fact, J.C. Penney’s strategy of simplifying shopper decision making failed in two fundamental ways. Firstly, the communication of the new strategy was ineffective, making the store proposition more complicated rather than less. Secondly, in many other ways, J.C. Penney made shoppers’ lives more complicated by losing the focus of their brand identity and sending mixed messages to customers about what they stand for. Read more »