Through the looking glass: understanding consumers
Wednesday 29 November, 3.55pm – 5.25pm
Darling Harbour Theatre (Level 2)
Part one: Predicably irrational: the hidden forces that shape our decisions
- Prof. Dan Ariely, James B Duke Professor of Psychology and Behavioral Economics, Duke University (USA)
We make irrational decisions so regularly that it is actually quite predictable. Although we might think we are in control of how we make market calculations and economic decisions, we are actually driven by perceptual reactions, ingrained habits, and ‘decision illusions’ – much more than we realise. Dan Ariely will talk about how people make decisions that are irrational when measured against classical economics or market norms. He will show us how we can learn to recognise what is happening—and so overcome some of our weaknesses—to improve our financial outcomes, as well as our daily lives.
Part two: Buyology: uncovering the truth about why consumers buy
Over the years Martin Lindstrom has developed an unorthodox way of doing what every company says it wants to do: understand its customer. Convinced that there is a gulf between what we believe influences us and what actually does, Martin will share the fruits of his research through his international best seller “Buyology”, revealing for the first time what actually goes on inside our heads when we see an advertisement, hear a marketing slogan, taste two rival brands of drink, or watch a program sponsored by a major company. The conclusions are both startling and ground breaking, showing the extent to which we deceive ourselves when we think we are making considered decisions, and revealing factors as varied as childhood memories and religious beliefs that come together to influence our decisions and shape our tastes.
- Russel Howcroft, Gruen Transfer panellist and Chief Creative Officer, PwC