Notes
Just found by chance this Ted talk by Rory Sutherland (from 2012), and it is worthwhile the 18 minutes!
I really like Rory’s perspective and insights and this talk approaches them in one go. Human behavior and psychology are paramount in any problem-solving framework.
The UK’s post-office case made, among others, is a great example that perception has the same value of actual product/service attributes, dimensions or “real” value/utility.
If you have a product that is better, or at least equal, to your competitors, but it is perceived 5 to 10% lower than your competitors, based on their willingness to pay, don’t invest in improving the product, invest on changing their perception!
His book “Alchemy” is also a must read!