The Laws of Choice: Predicting Customer Behavior - Hardcover

Tony Adams Principal Marketing, The Vanguard Group Hooray for Eric Marder! He has pioneered a most accurate and predictive understanding of consumer behavior. It works. Dennis Q. Murphy, Director Worldwide Marketing Communications Research, IBM Rarely does deep insight intersect so completely with hard data. In this extremely readable book, Eric derives remarkable conclusions about buyer behavior from a database unparalleled in business and unaffordable in academia. William R. Bondurant Vice President, Business Information, AT& T Wireless Services, INC. Brilliantly clear on all the major issues with which marketers are concerned. Betty Sproule Strategic Planning Manager, Hewlett-Packard Company A landmark in the state of global thinking about marketing, marketing research, and how customers make choices. The laws and principles Eric Marder formulates will serve as guideposts for the next era of marketing via electronic media. Paul Schregel Former Senior Vice-President, Americas, Scott Paper Company Eric Marder has a way of taking concepts that are often vague in other hands, discarding the fluff, and producing a simple, sharp picture of any subject with which he deals. Senior executives who want to make money will find gems in this book. Using the thinking and tools described here, we increased earnings from consumer brands sold in the U.S. from under $50 million to over $150 million in just a few years!

How do customers decide what products and brands to buy? With the rise of sophisticated advertising and marketing research methods in this century, business leaders have spent billions of dollars attempting to answer this perplexing question. Occasionally, analysts emerge with suggestive trends, but ultimately with little hard evidence to support any definitive "laws" of customer choice. Now, in this much-anticipated major work, Eric Marder reveals how universal patterns in survey responses lead not only to general principles in marketing but to empirically verifiable laws of human nature itself. Drawing on forty years of applying his pioneering experimental design techniques to marketing research surveys, Marder presents a global theory of choice behavior, supported by original data reported here for the first time from thousands of massive real-life experiments based on millions of interviews. His dramatic findings about pricing, optimal marketing tactics, product evaluation, the relative role of product and image, and advertising effectiveness will make this book required reading for the entire marketing community. Of special interest to social scientists and survey research practitioners will be Marder's powerful research designs and techniques, including the unbounded write-in scale for measuring desirability (attitude) and his methodological analyses of the relationships among beliefs (perceptions), desires, choice, and behavior. In the Preface, he writes: "At the core of the theory are three laws of choice behavior the Law of Congruence, the Law of Primacy, and the Law of Persistence. These laws are both general and self-evident. At first glance, they are so self-evident that you might say: 'I have known this all along.' My reply is: 'Of course you have known it all along. But there is a difference between knowing and knowing, between the passive knowing that allows us to persist in actions that are inconsistent with what we know, and the active knowing that helps us change the way we do things.' I believe that knowing the laws of choice behavior-really knowing them -- changes the way we do things. My crass but stringent criterion has been that a good theory should enable someone equipped with it to make more money than someone who isn't. I believe my theory has passed this test."