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Rory Sutherland

08/01/22

@ The Diary Of A CEO

To enhance patient satisfaction, the NHS could implement specific behaviors and techniques that focus on improving the overall experience rather than just the service itself.

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Rory Sutherland

08/01/22

@ The Diary Of A CEO

Psychology offers a more effective avenue for improving how people feel than merely rational improvements. For instance, instead of making the Eurostar faster, we should focus on making the journey more enjoyable.

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Rory Sutherland

08/01/22

@ The Diary Of A CEO

The Uber map exemplifies a psychological breakthrough; it alleviates the stress of waiting for a taxi by providing real-time information, transforming the waiting experience from one of anxiety to relaxation.

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Rory Sutherland

08/01/22

@ The Diary Of A CEO

The term 'vegan leather' is a clever marketing strategy that reframes plastic seats as a more valuable and environmentally friendly option, enhancing consumer perception without compromising quality.

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Rory Sutherland

08/01/22

@ The Diary Of A CEO

Creating perceived value is essential; it can be achieved through storytelling and psychological mechanisms, which can make products feel more valuable and enjoyable to consumers.

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Rory Sutherland

08/01/22

@ The Diary Of A CEO

Perceived value is an environmentally friendly form of value creation, as it often requires less resource consumption compared to physical improvements, like making a product larger or faster.

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Rory Sutherland

08/01/22

@ The Diary Of A CEO

Psychological moonshots, such as enhancing the experience of a product, are often easier to achieve than technological advancements, which can be complex and costly.

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Rory Sutherland

08/01/22

@ The Diary Of A CEO

The 'IKEA effect' suggests that when consumers invest effort into a product, such as assembling furniture, they perceive it as more valuable, which can also apply to other products like meal kits.

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Rory Sutherland

08/01/22

@ The Diary Of A CEO

The perception of value can be significantly influenced by how a product is presented, as seen in the case of IKEA, where the effort of assembling furniture increases its perceived worth.

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Rory Sutherland

08/01/22

@ The Diary Of A CEO

In marketing, creating a narrative around a product can enhance its perceived value, as demonstrated by the difference between cheap strawberries and pick-your-own strawberries, where the latter feels more valuable due to the effort involved.

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Rory Sutherland

08/01/22

@ The Diary Of A CEO

The psychological aspect of marketing often outweighs the rational; for example, consumers may trust a more expensive product over a cheaper one, even if the cheaper product is of equal quality.

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Rory Sutherland

08/01/22

@ The Diary Of A CEO

The perception of electric cars is changing; owning an electric vehicle is becoming a status symbol, regardless of the brand, as it signifies a commitment to sustainability.

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Rory Sutherland

08/01/22

@ The Diary Of A CEO

The concept of 'vegan leather' is a clever marketing tactic that elevates the status of a product by framing it as an environmentally conscious choice rather than a compromise.

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Rory Sutherland

08/01/22

@ The Diary Of A CEO

Psychological value is crucial in marketing; it can create a more enjoyable experience for consumers, which is often more effective than focusing solely on technological improvements.

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Rory Sutherland

08/01/22

@ The Diary Of A CEO

The way a restaurant presents its food can significantly affect diners' appreciation; creating an enjoyable atmosphere and experience is just as important as the food quality itself.

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Rory Sutherland

08/01/22

@ The Diary Of A CEO

Creating perceived value is a key responsibility for businesses; it involves enhancing the experience and presentation of products to ensure they are appreciated by consumers. For example, I always tell KFC to share the story of Colonel Sanders founding the company at age 65, highlighting his years of perfecting the chicken recipe, which adds depth to the brand's narrative.

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Rory Sutherland

08/01/22

@ The Diary Of A CEO

The lingerie brand Luro failed because they never communicated the craftsmanship behind their products, which were made by hand, leading to a lack of perceived value compared to cheaper competitors.

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Rory Sutherland

08/01/22

@ The Diary Of A CEO

Personalization in marketing can be effective, but it must be done carefully to avoid coming off as intrusive or creepy, as seen in examples where companies overstep boundaries with customers.

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Rory Sutherland

08/01/22

@ The Diary Of A CEO

In e-commerce, businesses often focus too much on creating a polished sales experience but neglect the importance of customer service once a purchase is made, leading to dissatisfaction when issues arise.

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Rory Sutherland

08/01/22

@ The Diary Of A CEO

Offering customers a choice of delivery couriers can enhance their experience and satisfaction, as it allows them to feel in control of their purchase and reduces blame on the company if something goes wrong.

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Rory Sutherland

08/01/22

@ The Diary Of A CEO

Creating a compelling unboxing experience can significantly enhance the perceived value of a product, as seen in luxury brands that invest in high-quality packaging.

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Rory Sutherland

08/01/22

@ The Diary Of A CEO

Scarcity can drive demand; for example, limited runs of apparel can create urgency and exclusivity, as demonstrated by the successful sales during my UK tour.

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Rory Sutherland

08/01/22

@ The Diary Of A CEO

The narrative behind a product can elevate its status, making it feel more like art than just clothing, which is crucial for engaging customers and creating a connection.

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Rory Sutherland

08/01/22

@ The Diary Of A CEO

Effective communication is essential in marketing; the ability to tell a compelling story can significantly influence how ideas are received and understood by others.

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Rory Sutherland

08/01/22

@ The Diary Of A CEO

The ability to communicate effectively and tell stories is one of the most valuable skills, as it can inspire others and drive engagement in various contexts, from business to personal interactions.

The Marketing Secrets Apple & Tesla Always Use: Rory Sutherland | E165

Takeaways