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Wednesday, November 16, 2016

I bet you are suffering from ‘cognitive bias’ and the ‘availability heuristic’

Great blog in Marketing Week by the Secret Marketer. Well I think it is great because it confirms my prejudices.

The writer believes that two of the most important factors to be a successful marketer are being an expert in understanding and getting inside people’s minds, and being an expert in understanding our own cognitive biases.

This is the single bit of advice I give marketers when discussing older consumers and marketing.

 I love the term 'availability heuristic'. I normally say that it when you take a small bit of evidence and try and extrapolate it to understand the universe of outcomes. An example in the ageing business is to use the trials and tribulations of your great aunt to define the needs of a whole market sector.

The trouble is the advice is so simple that 99% of marketers will nod when they read it and move on without really understanding its importance. Dick Stroud

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