Although we touched on cognitive bias a couple of months ago, this episode looks specifically at what cognitive bias is. We explore how it affects our decision making process, specifically with regards to purchases of goods and services.
The problem we humans have is we are constantly taking on board new information. Learning things is hard and requires concentration and energy. Which the brain doesn't like doing.
Especially as it's trying to keep us alive and do all the other things we're unconsciously ask it to do.
This is why when we try something new we're often terrible at it. And why learning to Floss is so goddamn hard. We force our brains to expend a huge amount of energy trying to master whatever it is we're trying to learn.
Anyone starting a new job will often feel wiped out for the first few days. That's because our brains are on-boarding a boatload of new information. The job itself may be one we're familiar with but all the new people, processes and systems are all new. Learning that takes brain power. Lots and lots of brain power.
However, the human brain - being the lazy so-and-so that it is - creates mental shortcuts as we learn. This is how driving becomes second nature or how we naturally become better at things the more we do them - because so much is happening on autopilot.
This is also true of how we form opinions. We absorb knowledge (hopefully) - think about it for a while and then form an opinion. The problem is that opinions aren't always right or even valid and it can cause us to make some pretty bogus decisions. Especially when it comes to purchases.
This is cognitive bias.
Watch the video below to learn about how cognitive bias impacts on our decision making processes and where marketing fits in.
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To learn more about cognitive bias and other facets of behavioural marketing get in touch and a Ninja will be only too happy to answer your questions.