Friday 24th May, 2013
4:50pm to 5:10pm
A great deal of marketing activity is still based on the idea of Rational Economic Person. People make choices by examining rationally the attributes of the alternative offers. This view of the world is less and less valid. Increasingly, in many consumer markets – not just those which are primarily web based – people choose on the basis of what their reference group has chosen. Identifying the relative importance of this social influence and of ‘rational’ choice is the fundamental basis of successful marketing in the 21st century
Director, Synthesis IPS, Partner, Voltera, and Author
Paul Ormerod is a British economist who is researching complexity, complex systems, nonlinear feedback, the boom and bust cycle of business and economic competition.
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