Framing Prices for SNAPP Decisions

Jun 22 2015 Published by neilgains under behavioural economics

In my last post on the psychology of money, I looked at pricing through the lens of the SNAPP behaviour framework. I left out many examples due to time and space, especially under the theme of PATTERNS, where there are many well known examples of Framing and Priming of behaviour. In this article I will focus on some more examples of the importance of PATTERNS in human decision-making, especially in how the brain interprets pricing and value. Read more »

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Pricing in a SNAPP: The psychology of money

Jun 15 2015 Published by neilgains under behavioural economics

“Price is what you pay. Value is what you get.”  - Warren Buffett

Price is definitely not the same as value, although classical economics continues to assume it is. In their rational models, economists (and many researchers) believe that humans are calculating machines summing up the costs and benefits of a decision with perfect information and reaching a rational conclusion (so-called Homo Economicus). The reality is quite different, in that many of our decisions are habitual (automated) and those that aren’t are most often made by using simple heuristics (mental rules of thumb) as proxies for more effortful analysis of what to do. Read more »

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Market Research Buyers and SNAPP Decisions

Jun 08 2015 Published by neilgains under behavioural economics

Over the last year, TapestryWorks has been helping many clients decode the complexity of human behavior to optimise marketing plans, brainstorm behavioral promotional campaigns, audit in-store execution and understand shopper behavior. We’ve worked across many different categories and one of the most common questions is whether “System 1” (implicit) decision-making applies to business in the same way as it applies to consumers. My answer is that it does, because ultimately it’s always about people. That is, B2C and B2B are both P2P.

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Emotions - A body of evidence

May 25 2015 Published by neilgains under emotion

Emotional mapping is a core part of TapestryWorks work, and we have often argued that emotions are much more physical and non-conscious than cognitive (see our white paper here). So I was fascinated to find a paper from 2013 in which the authors reported several studies inn which they had asked people to “map” bodily sensations though a topographical self-report method. The results are fascinating and show that different emotions produce sensations in different parts of the body. They also show evidence that in the majority of cases these sensations and states are culturally universal. Read more »

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Making SNAPP Decisions: A framework for applying “fast” thinking

Apr 06 2015 Published by neilgains under behavioural change

In Thinking, Fast And Slow, Daniel Kahneman provides an overall metaphor for human thinking as well as describing a long list of heuristics (mental rules of thumb) that we all use to make decision-making simpler, quicker and more efficient.  All these heuristics happen in System 1, the description Kahneman gives to non-conscious and implicit thinking.

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A Picture Paints A Thousand Words: Making Research More Visual (White Paper #3)

Mar 24 2015 Published by neilgains under consumer psychology

Market research still uses too many words, with most approaches continuing to focus on question and answer approaches to understanding human behaviour. However, we know that most of the brain lives in the physical world and builds knowledge through the sensory system and especially the visual sense. It’s time for market research to get more visual and use the power of images and metaphors to capture the real feelings of people that sit beyond the rational and verbal brain.

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Taxanomic vs Taskanomic

Mar 13 2015 Published by neilgains under behavioural change

Recently I learnt a very useful way to describe one of the differences between System 1 and System 2, courtesy of Roger Dooley’s Brainfluence podcast (link here). In a very interesting discussion with Neale Martin on habit, there was a discussion of Donald Norman’s distinction between the ‘taxonomic’ rational brain and the ‘taskanomic’ emotional brain. Read more »

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5 (or 10) Small Changes that can help you Influence Behaviour

Mar 03 2015 Published by neilgains under behavioural change

The Small Big by Martin, Goldstein & Cialdini was published last year and is highly recommended for anyone who wants insights into how behavioural science insights can be applied to practical problems of behaviour change.  The book follows on from Cialdini’s classic work Influence (read more details here) and another work Yes! published by the same authors. Both The Small Big and Yes! are packed full of examples of using small ‘nudges’ or changes in context, design and wording to create big impacts in human behaviour. Reading through these books, along with Influence itself, you are bound to find many great examples of behaviour change that you can immediately apply in your own work.

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Review of Webs of Influence

Jan 20 2015 Published by neilgains under book review

In Webs of Influence: The psychology of online persuasion, Natalie Nahai does a great job of providing practical strategies for website design based on the science of behavior. She has taken ideas from a very wide range of sources and demonstrated what they might mean in the context of a website and online environment.

The book covers three overall themes and each theme takes a number of ideas from psychology, neuroscience, behavioral economics and in short and easy to read chapters, shows real examples and case studies of how the idea can be implemented. Read more »

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Thinking Clearly in 99 Steps

Jan 19 2015 Published by neilgains under book review

Have you ever read a book and wished you had found it earlier? Have you ever been recommended a book, and immediately bought it for fear of missing out on something so good? In The Art of Thinking Clearly, Rolf Dobelli discusses the fear of regret and 98 other cognitive biases in plain and succinct language beautifully illustrated with personal anecdotes. scientific papers and psychology experiments from around the world. Read more »

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