Why People (Don't) Buy: The Go and Stop Signals

by Amitav Chakravarti, Manoj Thomas

Overview

Full of practical diagrams and maps, as well as international case studies, this book offers a unique and extensively-tested 'GO-STOP Signal Framework', which allows managers to better understand why consumers are not buying their products and what can be done to put this right.

Product Details

ISBN-13:	9781137466679
Publisher:	Palgrave Macmillan UK
Publication date:	05/15/2015
Edition description:	2015
Pages:	223
Product dimensions:	5.60(w) x 8.60(h) x 0.90(d)

About the Author

Amitav Chakravarti is Professor of Marketing at the Department of Management, London School of Economics and Political Science, and wrote part of the book when visiting the Sloan School of Management, MIT. Currently he is on the faculty of University of California, Riverside. Prior to his appointment at LSE, he was an Associate Professor at the Stern School of Business, New York University. He received his PhD from the University of Florida (Go Gators!) and his research has been published in leading journals like Journal of Marketing Research, Journal of Consumer Research, Journal of Consumer Psychology, and Journal of Experimental Psychology: Learning, Memory, and Cognition. He was awarded the Google-WPP Marketing Research Award and the Marketing Science Institute (MSI) Young Scholar Award, and named among the 'Top 10' instructors at the Department of Management, LSE. Chakravarti spends a lot of his time in the concrete jungles of New York City, but still misses his childhood days growing up near a Rhino reserve.

Manoj Thomas is Associate Professor of Marketing and Director of Business Simulation Lab at the Samuel Curtis Johnson Graduate School of Management at Cornell University. He trains MBA students and executives to identify and test powerful consumer insights. Thomas has received the Apple Award for Excellence in Teaching. He holds a PhD in marketing from the Stern School of Business at New York University. His specialization is consumer psychology. His research has been published in the Journal of Consumer Research, the Journal of Marketing Research, Marketing Science and Psychological Science. Thomas has received several research fellowships, has been nominated an MSI Young Scholar, and is an Associate Editor for the Journal of Consumer Psychology. He lives in the idyllic town of Ithaca, NY with his charming wife and two sons.

Table of Contents

1. THE 100 CALORIES PARADOX The GO-STOP Signal Framework 2. JC PENNEY: THE FAIR AND SQUARE STRATEGY Removing Price Promotions Can Strengthen the STOP signal 3. TATA NANO: THE CHEAPEST CAR Low Price Can Weaken the GO Signal 4. HEDGEHOGS AND FOXES Mispredicting Consumer Behavior 5. UNDER-PRICED NYC RESTAURANTS When Does Low Price Weaken the GO Signal? 6. DID CREDIT CARDS MAKE AMERICA FAT? Unintended Consequences of Technology 7. IS $451,563 SMALLER THAN $450,000? Heuristic Inferences 8. PAYING FOR MEDICINES AND TICKLE-ME ELMO Unfairness Cues Strengthen the STOP Signal 9. WHY PAYING PEOPLE TO DONATE BLOOD DOESN'T PAY Monetary Incentives Can Weaken the GO Signal 10. BEHAVIORAL AUDIT FOR STRATEGIC DECISIONS Measuring GO AND STOP signals

Editorial Reviews

'Chakravarti and Thomas offer a thoroughly modern view of consumer decision-making, grounded in persuasive behavioral research and laden with practical, game-changing insights. Their 'GO-STOP Signal' Framework offers a fresh take on consumers and is a powerful and versatile tool to help marketers make fundamentally better decisions.'

-Kevin Lane Keller, Professor of Marketing at Tuck School of Business at Dartmouth College; Branding Guru; author of the bestselling book Strategic Brand Management

'Chakravarti and Thomas breathe new life into what was once considered the oxymoronic phrase, 'marketing science.' Building on the venerable approach-avoidance tradition in behavioral science, their 'GO-STOP Signal' Framework sheds new light on why certain strategies work while others generally fail. This book will be a big hit with both practicing professionals and students in MBA classrooms.'

-Robert H. Frank, Professor of Management and Economics at Johnson Graduate School of Management, Cornell University; author of the award-winning book The Darwin Economy

'A smart, entertaining, and practical read that opens up big new insights about consumer behavior.'

-Adam Grant, Wharton professor; New York Times bestselling author of Give and Take

'Understanding your customers is vital to any business. But gaining that understanding is often harder than it looks. Why People (Don't) Buy provides a step-by-step guide to consumer insight. Filled with engaging stories and surprising findings, it provides a handy framework for why people do what they do, and how you can use that information to be more effective.'

-Jonah Berger, Wharton Professor; New York Times bestselling author of Contagious: Why Things Catch On

'Why People (Don't) Buy is an engaging compendium of smart, down-to-earth advice for marketers who seek to understand why their customers sometimes do (and sometimes don't) buy. Chakravarti and Thomas take their readers on an entertaining journey through many of the marketing world's most insightful and important studies. This book is a 'must-read'.'

-Adam Alter, Associate Professor of Marketing at NYU Stern School of Business; New York Times bestselling author of Drunk Tank Pink

'Chakravarti and Thomas showcase a wonderful combination of fun, clear and useful research in behavioral marketing. They offer new ways of looking at everyday decisions we all make, and explain why some approaches succeed while others fail. The book is not about how wrong or irrational people are, but rather about how we can all use insights from consumer behavior to reach our goals.'

-Uri Gneezy, Professor of Economics & Strategy at University of California San Diego, and author of the critically acclaimed book The Why Axis: Hidden Motives and the Undiscovered Economics of Everyday Life

From the Publisher