The Irrational Consumer Applying Behavioural Economics to Your Business Strategy

Companies of all kinds have fallen into some of the most fundamental of traps when it comes to consumer marketing; in assuming that the motivation that drives their customers is entirely rational. Enrico Trevisan's The Irrational Consumer builds on the ground breaking works on behavioural economics of authors such as Daniel Kahneman and Richard Thaler in order to explain the fundamental drivers of customer decisions and how to incorporate these into your business strategy. Learn how consumers respond to different offer architectures and discounts; why they sometimes struggle to see the wood for the trees in a world of ever-increasing options; what are the rules of thumb they develop for making sense of value. Behavioural economics offers organizations perspectives for engaging with customers, whose views on what to buy are strongly driven by contextual factors, such as the framework and the dynamics of choices. Enrico Trevisan's The Irrational Consumer is your 'must-have' primer to this world.

Introduction; Chapter 1 The Loss of Rationality; Chapter 2 A Passion for Deals; Chapter 3 The Sense of Possession; Chapter 4 An Embarrassment of Riches; Chapter 5 Sunk Costs and Re-Emerging Costs; Chapter 6 Divide and Rule; Chapter 7 Money Games; Chapter 8 Ulysses, The Sirens and The Challenge of Self Control; Chapter 9 Mind Games;

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