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The Laws of Choice

Reading Group Guide

    Discussion Group Questions
    1. What is marketing? Are there common elements in the marketing of a consumer product, an industrial product, a prescription drug, a political candidate? What, if any, are these common elements? (Chapter 1)
    2. When should the analysis of a study be performed: before collecting the data or after? And how many measures for a variable should the analysis use: as many as possible or only a single one? (Chapter 3)
    3. What re the respective roles of judgment and research in making business decisions? What is the proper contribution of each? (Chapters 2, 3)
    4. If I want to know how many people will buy my product, can I just ask them whether they will buy my product or not? If yes, what will their answers tell me? If no, why not? (Chapter 4, Chapter 11)
    5. How should pricing decisions be made? Are there any general principles for pricing? What are they? (Chapter 6)
    6. How can I find out which of two variants of a product is better? If I test the variants, should I test them blind or identified? Should I use a "paired comparison" test, in which people are given both variants an report which one they like better? And how do I go about improving my brand? (Chapter 8, 9, 10)
    7. What must I do to plan marketing strategy systematically? How can I find out why people choose what they choose? How can I find out which factors are most important? (Chapters 15, 16)
    8. What are the objectives of advertising? Can the effects of advertising be measured? Is it possible for advertising to hurt the advertised brand? If so, how? (Chapters 22, 25)
    9. How long do advertising effects last? A day, week, month, forever? Is it possible to measure the payout of advertising? To compare it to the payout of coupons and samples? (Chapter 26)
    10. Under what circumstances can you get the right answer to your question, and yet end up doing the wrong thing? (pages 94-97, 147-149, 232-234, 260-262, 264-266, 307-309, 322-323)

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