opportunity 29 of 150 Marketing is the business of managing human behaviour to achieve behavioural outcomes that facilitate commercial objectives. As such marketing cost efficiency cannot occur without an understanding of ‘how’ and ‘why’ consumers do what they do. This series of articles will provide helpful insights into how consumers think and respond. Nobel prize […]

opportunity 29 of 150 Marketing is the business of managing human behaviour to achieve behavioural outcomes that facilitate commercial objectives. As such marketing cost efficiency cannot occur without an understanding of ‘how’ and ‘why’ consumers do what they do. This series of articles will provide helpful insights into how consumers think and respond. Nobel prize winner Daniel Kahneman has researched and written at length about two systems of thinking: System 1 – fast thinking System 2 – slow thinking Fact thinking occurs in the reptilian brain and is impacted by the limbic, emotional brain. Such thinking tends to be: automatic irrational unconscious lazy Some 80% of purchase decisions are the result of fast thinking in the reptilian brain. Slow thinking occurs in the neo-cortex. Such thinking tends to be: deliberate rational thoughtful active It is important to know which type of thinking applies to your product. If it is fast…