In this highly entertaining TED talks speech, held in Oxford last year, the advertising giant Rory Sutherland discusses how advertising adds value to a product by changing our perception about the product, rather than changing the product itself. He also makes the daring assertion that a change in perceived value can be just as satisfying as what we consider as “real” value. And the conclusion has interesting consequences for how we look at life…

Enjoy!

(See also Rory explain why we need to broaden the definition of what we do, to reflect the new reality of the marketplace: Behavioral Economics. And read more about it here [in Swedish].)