30 Jul '15, 9am

The psychology of purchase - CampaignLive #branding #luxury

The psychology of purchase - CampaignLive #branding #luxury

Start at the end. That’s the advice from a new book, The Last Mile , which explores how to nudge people into buying a product. The author, Dilip Soman, a marketing professor at the Rotman School of Management, argues that advertisers are obsessed with getting people to love their products rather than actually buy them. "Most organisations tend to pay the least amounts of effort to the last mile and spend a disproportionately larger amount of effort on ‘first mile’ issues such as strategy, innovation and branding," he says. Soman adds: "This is probably why we end up with puzzles such as: why do more than 90 per cent of new products fail? Or why do consumers who say they are delighted with a product or service not repurchase it? The book makes a call for a better theory of the last mile." His view was supported by Ogilvy & Mather Group UK’s vice-chairman, Rory Sutherland, a...

Full article: http://www.campaignlive.co.uk/article/psychology-purchase...

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