How often do you read a book that is both important and amusing, both practical and deep? This gem of a book presents the best idea that has come out of behavioral economics. It is a must-read for anyone as it will improve your decision-making process.
This book is terrific. It will change the way you think, not only about the world around you and some of its bigger problems, but also about yourself.
Nudge mean anything that influences our choices. A school cafeteria might try to nudge kids toward good diets by putting the healthiest foods at front. We think that it’s time for institutions, including government, to become much more user-friendly by enlisting the science of choice to make life easier for people and by gentling nudging them in directions that will make their lives better.
Thaler and Sunstein show that by carefully designing the choice architecture, we can make dramatic improvements in the decisions people make, without forcing anyone to do anything. For example, we can help people save more and invest better in their retirement plans, make better choices when picking a mortgage, save on their utility bills, and improve the environment simultaneously.
Now, if you think of applying these twists to the choice architecture in your marketing efforts, don’t you think you can Nudge your customers? I’ll leave it to you to find other ways to use it as a powerful asset to your business.