CTAM Broadcaster Forum: People make weird choices; companies which don’t expect that? Weirder

By Linda Stuart

TORONTO – Consumers sometimes make terrible decisions that are not even in their own interests – and it’s always been very difficult for companies to cope with that.All companies are in the business of changing people’s behaviour, said Professor Dilip Soman (pictured), professor of marketing at the University of Toronto’s Rotman School of Management during his presentation made at the CTAM Broadcaster Forum, and generally speaking people are bad at making decisions because they don’t always act in their own best interests. People can be irrational or lazy when it comes to making decisions, Soman added. If given too many...