From the desk(top)
Book review: Predictably IrrationalJuly 25, 2022
This book by behavioral economist Dan Airely, is a brilliant read for anyone who is interested in attempting to predict human behavior. From a marketing perspective, it’s a great study in pricing, packaging and just general human motivators. For years, behavioral economists have suggested that people behave rationally. Airely turns this on its head by suggesting that not only are we humans irrational, we are actually PREDICTABLY irrational. A dichotomy for sure.
Airely talks about all relationships being defined as social exchanges or market exchanges. He gives concrete, real-life examples of decoy and anchor pricing, and how many times in life we as consumers, “overpay, underestimate and procrastinate” based on systemic decisions. For me, it was like a light bulb going off. I consider myself a pretty savvy consumer but after reading this book, I realize how many times I, too, am guilty of this irrational sin. I now look at menus differently and chuckle to myself when I see prices positioned a certain way. At least weekly, I refer to Airely’s teachings in my personal and professional life.
Key Takeaway: Humans don’t understand the value of something until they see it in context to something else. And we behave irrationally consistently as consumers.
Here’s a list of upcoming book reviews:
The Creative Destruction of Medicine
Virtually speaking…July 11, 2022
Meraki.Social is a great place to work for so many reasons. Not only do we have the good fortune to work with some fun, talented and awesome people, but we also share a virtual office. My previous positions were primarily in brick and mortar, which was all I knew. But now, after working in a virtual environment, it brings a… Read More
Book review: The Black SwanJune 13, 2022
If you sit down to read this book, grab a thesaurus, (definitely) some decaf, and buckle up. This thick, dense and super charged book by Nicholas Nassim Taleb may have been written more for the financial markets, but it truly changed the way I approach problems, opportunities marketing generally, and day to day life. While the book is extremely intellectual,… Read More
What is the metaverse and is it a capital or lowercase m?June 6, 2022
Recently, there’s been a lot of talk about the metaverse, the hypothetical next generation of the internet in which our current experience of surfing websites morphs into users traveling through immersive digital experiences that include virtual 3D worlds, augmented reality, and multiple sensory interactive capabilities that seamlessly merge physical and digital worlds into one, dygical world. You know, simple stuff. Read More
Book review: The Medici EffectMay 23, 2022
Chief Idea Officer, Elizabeth Estes, comes from a family of readers and has always appreciated the theatre of the mind that reading creates. Still a voracious reader, Elizabeth attributes her active imagination and higher-than-average dose of creativity to her literary life. First book up for review: The Medici Effect The Medici Effect by Frans Johansson was called “a work of… Read More
Meraki StoryJuly 15, 2021
People ask us all the time who we are at Meraki, so our fearless leader, @ElizabethEstes, wanted to share our story! I’ve been asked many times, “so what’s the Meraki story”? Where did the name come from? What does it mean? What do you do? Obviously, I know the answers to those questions so that part of the… Read More