The Behavioral Economics in Marketing's Podcast: Recent Episodes
Sandra Thomas-Comenole
Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Your audience is overwhelmed — email overload, social media clutter, algorithm filters, and constant distractions are just a few of the reasons your message might not be getting through. In this episode of Behavioral Economics in Marketing, we dive into the concept of “noise” from Communication Theory and how it disrupts the delivery, reception, and impact of your marketing efforts.
You’ll learn how to identify different types of noise — from semantic confusion to psychological distractions — and gain practical strategies to cut through the chaos. From simplifying your message and optimizing your timing to leveraging storytelling, personalization, and feedback loops, this episode gives you the tools to ensure your message lands, resonates, and drives action.
Key topics: communication theory, noise in marketing, attention, personalization, messaging clarity, customer engagement, multichannel strategy.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute.
Understand how communication shapes success in remote and hybrid workplaces. These episodes examine behavioral insights into remote team dynamics, productivity, and the evolving economics of work.
Keywords: communication theory remote work, remote team productivity, behavioral economics workplace, hybrid work challenges, remote work strategies
🎧 Explore more insights, episodes, and resources at https://behavioraleconomicsinmarketing.com
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute.
Welcome to this Season 10 teaser episode of the Behavioral Economics in Marketing Podcast, where we revisit Season 9’s groundbreaking exploration of the economics of remote work — a topic that has transformed how organizations operate in today’s world.
Season 9 uncovered how remote work reshapes incentives, productivity, and employee engagement through behavioral economics. Now, we build on those insights by focusing on one of the biggest hurdles remote teams face: communication.
In this episode, we dive into Communication Theory and Remote Work Dynamics, revealing how distance, technology, and human behavior complicate clear communication. Discover practical strategies to cut through noise, reduce misunderstandings, and foster stronger collaboration in your distributed teams.
If you lead or work in a remote or hybrid environment, this episode offers essential behavioral tools to help your team connect more effectively and perform at its best.
🎧 Explore more insights, episodes, and resources at https://behavioraleconomicsinmarketing.com
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute.
Why does a $149 pair of headphones feel like a bargain — just because you saw a $399 pair first? That’s the power of anchoring, one of the most influential (and often overlooked) pricing strategies in behavioral economics.
In this episode of Behavioral Economics in Marketing, we explore how the very first number your customer sees — whether it’s a premium product, a crossed-out “original price,” or a high-priced menu item — can shape every decision that follows. You’ll learn how to use anchoring to your advantage without crossing ethical lines, plus actionable tactics like tiered pricing, decoy options, and reset strategies if your anchor misses the mark.
Whether you’re pricing products, proposals, or promotions, anchoring helps you influence value perception and drive more confident conversions.
Key topics: pricing psychology, value framing, consumer behavior, ethical marketing, pricing tiers, sales strategy.
🎧 Explore more insights, episodes, and resources at https://behavioraleconomicsinmarketing.com
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute.
Too many options can overwhelm customers and stall purchases. This episode offers insights on simplifying choice architecture to improve e-commerce experiences and increase sales.
Keywords: paradox of choice, e-commerce optimization, consumer decision fatigue, behavioral economics shopping, online sales strategies
🎧 Explore more insights, episodes, and resources at https://behavioraleconomicsinmarketing.com
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute.
In this special Season 10 teaser episode of the Behavioral Economics in Marketing Podcast, we revisit Season 8 — a deep dive into the timeless 4 Ps of marketing through a behavioral economics lens.
We highlight the impactful episode: The Paradox of Choice in E-Commerce, which reveals how overwhelming options lead to decision fatigue and lost sales — and offers smart strategies to simplify customer choices.
Then, we introduce a brand-new companion episode:
Anchoring and Pricing: How First Impressions Shape Purchase Decisions. Discover how the first price your customers see sets their expectations and influences buying behavior. Learn how to craft powerful pricing anchors ethically to boost perceived value and conversion.
Whether you’re refining pricing strategy or streamlining the customer journey, this episode pairing will elevate your marketing with proven behavioral insights.
🎧 Explore more insights, episodes, and resources at https://behavioraleconomicsinmarketing.com
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute.
Why do customers return again and again to brands like Starbucks or Sephora? It’s not just the product — it’s the game.
In this episode of Behavioral Economics in Marketing, we explore how adding game-like elements to loyalty programs taps into our psychological drive for progress, achievement, and rewards. From punch cards and point systems to digital badges, tiers, and challenges, we break down the science behind gamification and why it works so well to build repeat behavior.
You’ll learn:
- The behavioral economics principles behind customer motivation
- Types of loyalty programs and when to use each
- How to integrate gamified features like progress bars, badges, missions, and surprise rewards
- Real-world examples and actionable tips to increase engagement and brand stickiness
Whether you’re launching a new loyalty program or optimizing an existing one, this episode shows you how to turn everyday purchases into a journey customers can’t wait to complete.
Key themes: gamification, loyalty strategy, rewards design, behavioral triggers, customer retention, habit formation.
🎧 Explore more insights, episodes, and resources at https://behavioraleconomicsinmarketing.com
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute.
Explore how game mechanics can motivate customers and employees alike. Learn the principles behind gamification and how to apply them to boost engagement, loyalty, and business growth.
Keywords: gamification marketing, entrepreneurship behavioral economics, customer engagement strategies, business growth tactics, motivation psychology
🎧 Explore more insights, episodes, and resources at https://behavioraleconomicsinmarketing.com
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute.
In this teaser episode of Season 10 of the Behavioral Economics in Marketing Podcast, we take a look back at Season 7, where we focused on entrepreneurship and how behavioral economics can drive smarter, faster business growth.
We spotlight the fan-favorite episode: Level Up Your Business: How Entrepreneurs Can Harness the Power of Gamification. It’s packed with insights on how game mechanics like rewards, points, and progress tracking can supercharge customer engagement, motivate employees, and make your business more fun and effective.
Then, we preview a brand-new companion episode:
Building Loyalty Programs with Gamification: From Points to Progress Bars — a deeper dive into turning traditional loyalty systems into engaging, behaviorally driven experiences. You’ll discover how progress bars, badges, and surprise rewards tap into powerful psychological triggers that increase retention and brand love.
Whether you're a founder, marketer, or growth strategist, this pairing is your blueprint for turning behavior into brand loyalty.
🎧 Explore more insights, episodes, and resources at https://behavioraleconomicsinmarketing.com
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute.
Why do consumers trust influencers more than traditional ads? It’s not just about popularity — it’s about psychology.
In this episode of Behavioral Economics in Marketing, we unpack the behavioral science that makes influencer marketing so effective. From social proof and authority bias to narrative transportation and parasocial relationships, we explore how influencers build trust, shape buying decisions, and convert followers into customers. You’ll learn the cognitive triggers that drive this multi-billion-dollar industry — and how to use them to elevate your own brand.
We also break down the influencer landscape, from mega to nano, and offer tactical advice for identifying, approaching, and collaborating with the right creators for your campaign. Whether you’re looking to drive awareness or deepen loyalty, understanding the why behind influencer impact is your unfair advantage.
Key themes: influencer tiers, trust signals, behavioral triggers, content strategy, social proof, endorsements, campaign design, community-building.
🎧 Explore more insights, episodes, and resources at https://behavioraleconomicsinmarketing.com
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute.
See how the power of social influence shapes buying decisions. This episode explains different forms of social proof and how to effectively incorporate them to build trust and drive customer action.
Keywords: social proof marketing, increase conversion rates, behavioral economics influence, consumer trust strategies, social influence psychology
🎧 Explore more insights, episodes, and resources at https://behavioraleconomicsinmarketing.com
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute.
In this teaser episode for Season 10 of the Behavioral Economics in Marketing Podcast, we revisit one of the most energetic and content-rich seasons yet — Season 6: the 30-Day Challenge. With over 30 actionable episodes, this season was a crash course in applying behavioral science to real-world marketing.
This time, we’re highlighting Leveraging Social Proof to Increase Conversion Rates — an episode that explores how seeing others’ actions can significantly impact trust, confidence, and buying behavior. We discuss types of social proof, why it works, and how smart marketers use it to guide customer decisions.
Then we tee up an all-new companion episode:
The Power of Influencers: Behavioral Economics Behind Influencer Marketing.
We’ll explore how influencers — from macro to micro — serve as dynamic social proof, backed by behavioral science. You’ll learn how to choose the right influencer partners, why their messages stick, and how to amplify trust and engagement with authentic storytelling.
Whether you're launching a campaign or growing your brand’s credibility, this two-episode pairing will help you better understand the psychology of trust and influence in modern marketing.
🎧 Explore more insights, episodes, and resources at https://behavioraleconomicsinmarketing.com
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute.
Why do consumers pay six figures for a handbag they’ll rarely use — or line up overnight for a hoodie they might never wear? The answer lies in status, scarcity, and the zero-sum game of exclusivity.
In this episode of Behavioral Economics in Marketing, we explore how zero-sum branding drives desire by making status a competition. Using real-world examples from Hermès to Supreme, we unpack how luxury brands use scarcity, gatekeeping, and social comparison to increase their perceived value — not by what they offer, but by what they withhold. We’ll explore the psychology behind why exclusion works, the power of signaling theory and social proof, and how marketers can ethically apply these principles to craft irresistible brand experiences.
If you’re building a brand that trades in aspiration, identity, or prestige — this episode is your blueprint.
Keywords: luxury branding, zero-sum marketing, scarcity marketing, social status, exclusivity, behavioral economics, Hermès, Supreme, signaling theory, social comparison, artificial scarcity, brand strategy
🎧 Explore more insights, episodes, and resources at https://behavioraleconomicsinmarketing.com
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute.
Delve into the strategic interplay where one party’s gain equals another’s loss. This episode explores risk, insurance decisions, and how zero-sum dynamics influence consumer behavior and market strategies.
Keywords: zero sum games, insurance behavioral economics, risk management psychology, decision-making under uncertainty, game theory marketing
🎧 Explore more insights, episodes, and resources at https://behavioraleconomicsinmarketing.com
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute.
This special teaser episode of Behavioral Economics in Marketing revisits the powerful and deeply personal Season 5: Lessons from the Fire — a series born from the devastating Colorado wildfire that changed my life and inspired new ways to see decision-making, risk, and resilience through the lens of behavioral economics.
We highlight two of the most compelling episodes from that season:
- Zero Sum Games and Insurance — where we unpack why insurance, while rooted in zero-sum logic, plays such a vital role in managing risk and restoring peace of mind.
- Social Status and Zero-Sum Branding: Why Luxury Thrives on Exclusion — a fresh companion episode exploring how brands like Hermès and Supreme tap into scarcity and status to drive aspirational behavior and exclusivity.
This teaser sets up a deep dive into how zero-sum thinking influences both consumer behavior and marketing strategy — whether it’s about protecting your future or elevating your image.
🎧 Tune in for an emotional and analytical look at how we assign value, manage risk, and compete for status — and how marketers can ethically and effectively tap into these core drivers of human behavior.
🎧 Explore more insights, episodes, and resources at https://behavioraleconomicsinmarketing.com
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute.
What if the secret to better marketing isn’t who your customer is — but how they think?
In this episode of the Behavioral Economics in Marketing podcast, we explore how dual process theory — the idea that people make decisions using either fast, emotional (System 1) or slow, rational (System 2) thinking — can revolutionize your personalization and behavioral segmentation strategy.
You’ll learn how to identify which cognitive mode your audience is operating in and tailor your messaging, UX, and content to align with their mindset. Whether it’s quick impulse buys or high-consideration purchases, we break down actionable tactics for reaching both System 1 and System 2 customers at the right time, with the right message.
From ecommerce UX to digital ads, from loyalty programs to in-store experiences, discover how understanding thinking styles can help you boost engagement, improve targeting, and influence decisions more effectively.
Keywords: dual process theory, System 1 and System 2, personalization strategy, behavioral segmentation, customer experience design, fast vs slow thinking, behavioral targeting, marketing psychology, decision-making science, intuitive vs rational behavior
🎧 Explore more insights, episodes, and resources at https://behavioraleconomicsinmarketing.com
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute.
Unpack how fast, instinctive thinking and slow, reflective decision-making shape customer experiences. Understand how tailoring marketing to these thinking styles can optimize journeys and increase conversion rates.
Keywords: dual process theory marketing, customer journey optimization, system 1 system 2 thinking, behavioral segmentation, consumer decision psychology
🎧 Explore more insights, episodes, and resources at https://behavioraleconomicsinmarketing.com
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute.
In this mini teaser episode of Behavioral Economics in Marketing, we revisit one of the most eye-opening episodes from Season 4: Dual Process Theory on Customer Journey Optimization. Learn how understanding the brain’s two systems — the fast, intuitive System 1 and the slow, analytical System 2 — can transform the way you design touchpoints, content, and campaigns that align with how your customers actually think and decide.
Then, we give you a preview of our new companion episode for Season 10: Personalization and Behavioral Segmentation: Targeting System One vs. System Two Customers. In this advanced exploration, we turn theory into practice — showing how to identify your customers’ decision-making modes and tailor your strategy accordingly, using real-world brand examples and behavior-driven insights.
This teaser introduces how Season 10 pairs a classic behavioral concept with a fresh application, giving you even more ways to influence decisions and build better customer experiences.
🎯 Tune in to discover the brain science behind smarter marketing — and how to use it to boost engagement, loyalty, and conversions.
🎧 Explore more insights, episodes, and resources at https://behavioraleconomicsinmarketing.com
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute.
Why do so many well-meaning goals fall apart before they ever take off?
In this episode of the Behavioral Economics in Marketing podcast, we explore the intention-action gap — the frustrating disconnect between what people plan to do and what they actually do. Whether it’s starting a new habit, executing a marketing campaign, or leading change within your organization, good intentions are often derailed by hidden behavioral pitfalls.
We’ll dive into the psychology behind this gap and unpack why things like procrastination, unclear planning, environmental distractions, and fading motivation keep even our best goals from becoming action. You’ll also learn evidence-based strategies to bridge the gap — including implementation intentions, habit reinforcement, and small-step goal design.
Perfect for marketers, leaders, and changemakers, this episode gives you actionable tools to turn vision into follow-through and create change that lasts.
Keywords: intention-action gap, behavioral economics, goal setting, habit change, follow-through strategies, leadership psychology, behavior design, motivation barriers, implementation intentions
🎧 Explore more insights, episodes, and resources at https://behavioraleconomicsinmarketing.com
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute.
Why do good intentions often fail to lead to lasting behavior? This episode breaks down the psychological barriers between planning and doing, offering key insights for marketers and leaders focused on habit formation and change.
Keywords: intention-action gap, habit change psychology, behavioral economics habits, motivation to action, overcoming procrastination
🎧 Explore more insights, episodes, and resources at https://behavioraleconomicsinmarketing.com
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute.
In this special mini episode of Behavioral Economics in Marketing, we revisit one of the most resonant ideas from Season 3 — the Intention-Action Gap, a concept that’s essential for anyone looking to drive meaningful change in leadership, marketing, or personal growth.
We kick things off by revisiting the original episode Intention-Action Gap on Habit Change, which explores why even our best intentions often fail to turn into consistent action. Then, we preview a brand-new companion episode, Pitfalls in the Intention-Action Gap: Why Good Intentions Fail, where we dig into the deeper behavioral traps that hold us back — from unrealistic goal-setting to cognitive overload — and share actionable tools to move from intention to execution.
This teaser sets the tone for how Season 10 will work: a reflective replay, followed by a fresh, insightful expansion to help you apply behavioral economics more powerfully than ever.
🎯 Tune in and discover how to turn motivation into momentum — in leadership, strategy, and life.
🎧 Explore more insights, episodes, and resources at https://behavioraleconomicsinmarketing.com
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute.
Why do even smart leaders make short-sighted decisions that undermine long-term growth?
In this episode of the Behavioral Economics in Marketing podcast, we explore hyperbolic discounting — a behavioral economics principle that explains why we’re wired to favor immediate rewards, even at the expense of future success. From cutting training budgets to chasing short-term KPIs, this mental bias shows up in leadership more often than we realize.
Discover practical, psychology-backed strategies to refocus your decision-making toward sustainable growth, employee development, and long-term success. You’ll learn how to align leadership goals with purpose, apply commitment devices, and resist the quick wins that often derail your bigger vision.
Whether you’re a team leader, executive, or entrepreneur, this episode will give you actionable insights to lead with intention — and stay one step ahead of short-term bias.
Keywords: hyperbolic discounting, short-term thinking, behavioral economics leadership, long-term decision-making, organizational growth, leadership psychology, time inconsistency bias, executive decision-making
🎧 Explore more insights, episodes, and resources at https://behavioraleconomicsinmarketing.com
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute.
Discover the hidden tensions between beliefs and actions that affect both leaders and teams. Learn how understanding cognitive dissonance can improve workplace harmony, decision-making, and motivation.
Keywords: cognitive dissonance workplace, behavioral insights leadership, managing team conflict, employee motivation psychology, decision-making biases
🎧 Explore more insights, episodes, and resources at https://behavioraleconomicsinmarketing.com
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute.
Welcome to this special mini episode of Behavioral Economics in Marketing as we revisit one of the most insightful themes from Season 2 — management through the lens of behavioral economics. In this teaser, we spotlight the foundational episode Managing Cognitive Dissonance, where we explored how internal conflict affects team performance, leadership effectiveness, and company culture.
Then we preview a new companion episode that takes that conversation even further — diving into the concept of hyperbolic discounting and why leaders so often prioritize short-term wins over long-term growth. You’ll walk away with a fresh perspective on how to lead your team with clarity, confidence, and behavioral insight.
Perfect for executives, team leads, and behavioral economics enthusiasts, this mini episode sets the stage for a powerful duo that bridges psychology and smart leadership.
🎧 Listen in and start Season 10 with insight that will reshape the way you manage.
🎧 Explore more insights, episodes, and resources at https://behavioraleconomicsinmarketing.com
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute.
What if the key to better marketing isn’t just what you say — but how you make people feel?
In this episode of the Behavioral Economics in Marketing podcast, we explore how emotional segmentation and framing can help you better understand your audience and create messaging that resonates. Discover the psychology behind how customers process information and why aligning your message with emotional motivations leads to more powerful, personalized campaigns.
We’ll unpack a foundational behavioral bias, look at how real brands apply it, and introduce a fresh framework for emotional segmentation that could transform how you connect with your audience.
Whether you're a marketer, entrepreneur, or brand strategist, this episode will leave you thinking differently about the emotional drivers behind customer decisions — and how to tap into them more effectively.
Keywords: emotional segmentation, framing effect, customer motivations, behavioral marketing strategies, emotional targeting, consumer psychology, behavioral economics podcast
🎧 Explore more insights, episodes, and resources at https://behavioraleconomicsinmarketing.com
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute.
Explore how subtle shifts in presentation shape customer perceptions and drive decisions. This episode reveals the powerful role of framing in marketing, helping you craft messages that influence behavior and boost engagement.
Keywords: framing effect marketing, targeted messaging strategies, behavioral economics in advertising, customer decision-making, persuasive communication
🎧 Explore more insights, episodes, and resources at https://behavioraleconomicsinmarketing.com
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute.
We’re rewinding all the way back to Season 1 — where it all began — to revisit an early favorite that laid the foundation for this podcast. This mini teaser gives you a quick look at one of the standout episodes that shaped how we think about consumer behavior and decision-making. Plus, we hint at the fresh new episode it inspired in Season 10. (No spoilers here — you'll have to listen to find out.)
Whether you're revisiting the classics or catching up for the first time, this season combines timeless behavioral economics principles with updated strategies built for today’s marketers.
🎧 Explore more insights, episodes, and resources at https://behavioraleconomicsinmarketing.com
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Welcome to Season 10, Episode 1 of the Behavioral Economics in Marketing podcast — and what a milestone this is.
Today, we're taking a detour from our usual format to celebrate five years and ten seasons of exploring the science of decision-making in marketing. This episode is a little more personal — a chance to go behind the mic and share the story of how this podcast came to be, what it’s grown into, and what I’ve learned along the way.
If you’ve ever wondered how a marketer with a master’s in economics ended up podcasting about behavioral science — without ever having listened to a podcast before — this episode is for you.
I’ll share the story of how it started, what almost stopped it, what kept it going, and the surprising ways it’s grown — including being used in learning platforms around the world, now reaching audiences in 73 countries and translated into 15 languages.
Whether you’ve been listening since the early days or just found your way here, I’m so glad you’re part of this journey. Let’s kick off Season 10 with a look at where we’ve been — and a hint at what’s ahead.
🎧 Explore more insights, episodes, and resources at https://behavioraleconomicsinmarketing.com
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Season 10 Teaser: A Big Celebration Ahead!
Hey everyone, this is Sandra Thomas-Comenole, and I’m thrilled to share a quick sneak peek into what’s coming next on the Behavioral Economics in Marketing podcast.
Season 10 marks not just a new chapter — but a major milestone: five incredible years together and ten full seasons exploring how behavioral economics transforms marketing, leadership, and beyond. This season, I’m planning something special to celebrate everything we’ve learned, the amazing community we’ve built, and what lies ahead.
Without giving too much away, you can expect powerful episodes that revisit listener favorites, fresh insights to level up your strategies, and a few surprises designed to make this anniversary season truly unforgettable.
So, whether you’ve been here since the very beginning or you’re just tuning in, get ready — Season 10 is going to be big.
Make sure to follow the podcast so you don’t miss the kickoff episode. See you soon!
🎧 Explore more insights, episodes, and resources at https://behavioraleconomicsinmarketing.com
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Effectively managing choice overload is essential for promoting a healthy work-life balance in remote work environments. By streamlining tools, offering structured flexibility, curating personalized workspaces, and providing clear decision-making frameworks, organizations can help employees navigate their choices with greater ease. These strategies minimize decision fatigue and empower remote workers to make informed decisions that enhance their well-being. Ultimately, addressing choice overload fosters a more balanced and satisfying remote work experience, leading to improved productivity and overall job satisfaction.
Economics of Remote Work: Season 9 of the Behavioral Economics in Marketing podcast is dedicated to a topic that has reshaped the professional landscape: remote work. The COVID-19 pandemic accelerated the adoption of remote work, making it the norm for many organizations worldwide. As we navigate this new reality, it's crucial to understand how behavioral economics can provide valuable insights into the dynamics of remote work. In this podcast, we'll explore theories and concepts that explain human behavior, decision-making, and interactions within distributed teams. By understanding these psychological and economic principles, we can better navigate the challenges and opportunities presented by remote work. Join us as we explore how these insights can enhance productivity, cooperation, and overall well-being in the remote work landscape.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Incorporating the framing effect into company culture initiatives for remote teams can significantly enhance engagement and cohesion. By framing communications, feedback, rewards, and policy changes in a positive light, organizations can foster a more motivating and supportive environment. This strategic approach not only improves employees' perceptions and acceptance of company initiatives but also strengthens their connection to the organization. Ultimately, leveraging the framing effect helps remote teams feel more valued and aligned with company goals, contributing to a more vibrant and effective remote work culture.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Incorporating gamification into remote onboarding can transform the experience by making it more engaging and enjoyable. Simple strategies such as interactive learning modules, progress tracking, and virtual badges can effectively motivate new hires, enhance their learning, and foster a sense of connection with the team. By applying these gamified approaches, organizations can streamline the onboarding process, ensuring that new employees feel welcomed, supported, and integrated from the start. As a result, companies can improve overall onboarding efficiency and contribute to a more positive and productive remote work environment.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Addressing the Fundamental Attribution Error is essential for cultivating robust and positive relationships in remote teams. By implementing strategies such as regular one-on-one check-ins, sharing personal context in introductions, facilitating empathy-building activities, encouraging contextual insights, using situational understanding prompts in feedback, and fostering a culture of situational awareness, teams can significantly enhance mutual understanding and trust. These practices help ensure that team members appreciate each other’s circumstances and avoid misattributing behaviors to personal faults. As a result, teams can build stronger, more supportive relationships, leading to improved collaboration, morale, and overall success in a remote work environment.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Effectively applying the Trust-Building Process to remote team dynamics is essential for creating a cohesive and productive virtual work environment. By demonstrating competence through skill sharing, fostering integrity with transparent practices, supporting benevolence through regular interactions, ensuring consistency with reliable scheduling, enhancing communication through regular feedback, and promoting reliability with accountability systems, organizations can build a strong foundation of trust. These practices not only strengthen relationships within the team but also contribute to improved collaboration, higher morale, and greater overall success. As remote work becomes increasingly prevalent, focusing on these trust-building strategies will be crucial for maintaining a connected and engaged workforce.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Applying the Mere Exposure Effect to remote team integration can significantly improve team dynamics and cohesion. By creating regular and engaging opportunities for team members to interact, such as through virtual challenges, shared digital spaces, skill-sharing sessions, and recurring social events, organizations can leverage the power of familiarity to foster stronger connections. These repeated interactions enhance comfort and rapport among team members, making collaboration more seamless and effective. Embracing the Mere Exposure Effect in remote work settings helps bridge the gap between virtual interactions and personal relationships, ultimately leading to a more integrated, cohesive, and productive remote team.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Applying Communication Theory to remote work can greatly improve the effectiveness of interactions and collaboration within dispersed teams. By implementing clear communication protocols, utilizing video conferencing to capture non-verbal cues, adopting asynchronous tools, regularly reviewing expectations, fostering an inclusive culture, and sharing detailed meeting agendas, organizations can address common challenges and enhance communication clarity. These strategies not only mitigate misunderstandings but also foster a more cohesive and productive remote work environment. Embracing these principles helps ensure that remote teams operate smoothly and achieve their goals efficiently.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Applying Self-Determination Theory to remote work can significantly enhance employees' sense of autonomy, leading to improved motivation, job satisfaction, and overall productivity. By implementing strategies such as flexible work hours, encouraging self-directed projects, promoting skill development, facilitating open communication, creating a supportive remote culture, and defining clear goals, organizations can effectively address employees' psychological needs. These approaches not only foster a more empowered and engaged workforce but also contribute to a more positive and productive remote work environment. Embracing these principles helps ensure that remote employees feel valued and in control, driving both individual and organizational success.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Addressing hyperbolic discounting is crucial for enhancing productivity in remote teams. By implementing strategies such as setting clear short-term goals, using time-blocking techniques, providing immediate feedback, incentivizing long-term goals, promoting accountability, and utilizing task management tools, teams can effectively counteract the tendency to favor immediate rewards over long-term benefits. These approaches help team members stay focused on their overarching objectives, improve their time management, and ultimately boost overall productivity. Embracing these methods creates a more structured and motivated remote work environment, leading to greater success and achievement of long-term goals.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
The Hawthorne Effect refers to the phenomenon where individuals alter their behavior due to the awareness that they are being observed. This behavioral change can occur in response to any form of attention or monitoring, and it often leads to temporary improvements in performance or productivity. The term originates from the Hawthorne studies conducted at the Western Electric Company's Hawthorne Works in the 1920s and 1930s, which demonstrated that workers' productivity increased when they knew they were part of an experiment, regardless of the experimental conditions.
📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Economics of Remote Work: Season 9 of the Behavioral Economics in Marketing podcast is dedicated to a topic that has reshaped the professional landscape: remote work. The COVID-19 pandemic accelerated the adoption of remote work, making it the norm for many organizations worldwide. As we navigate this new reality, it's crucial to understand how behavioral economics can provide valuable insights into the dynamics of remote work. In this podcast, we'll explore theories and concepts that explain human behavior, decision-making, and interactions within distributed teams. By understanding these psychological and economic principles, we can better navigate the challenges and opportunities presented by remote work. Join us as we explore how these insights can enhance productivity, cooperation, and overall well-being in the remote work landscape.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Hyperbolic Discounting is a time-inconsistent model of delay discounting; or the tendency for people to have a stronger preference from immediate rewards over rewards that come later in the future, even when these immediate rewards are smaller.
📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Economics of Remote Work: Season 9 of the Behavioral Economics in Marketing podcast is dedicated to a topic that has reshaped the professional landscape: remote work. The COVID-19 pandemic accelerated the adoption of remote work, making it the norm for many organizations worldwide. As we navigate this new reality, it's crucial to understand how behavioral economics can provide valuable insights into the dynamics of remote work. In this podcast, we'll explore theories and concepts that explain human behavior, decision-making, and interactions within distributed teams. By understanding these psychological and economic principles, we can better navigate the challenges and opportunities presented by remote work. Join us as we explore how these insights can enhance productivity, cooperation, and overall well-being in the remote work landscape.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Applying the Reciprocity Principle to enhance team cooperation can significantly strengthen the collaborative spirit within an organization. By recognizing and rewarding contributions, offering support, sharing knowledge, creating team-building opportunities, and encouraging peer recognition, teams can foster a culture where mutual support and cooperation are the norm. This approach not only improves individual engagement but also contributes to a more cohesive and productive work environment. Embracing the Reciprocity Principle helps build a positive and cooperative atmosphere, driving team success and overall organizational effectiveness.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Leveraging the Halo Effect can significantly enhance remote leadership by positively shaping how leaders are perceived by their teams. By consistently demonstrating professionalism in communication, showcasing expertise, fostering positive relationships, and recognizing team achievements, remote leaders can create a strong, favorable overall impression. This positive halo can influence team members' perceptions of the leader’s competence and effectiveness, ultimately leading to improved engagement, trust, and performance. Understanding and applying the Halo Effect strategically allows remote leaders to strengthen their leadership presence and drive success within their teams.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Effectively applying the Hawthorne Effect to remote work involves implementing strategies that subtly remind employees of their visibility and the value of their contributions without intruding on their privacy. By adopting practices such as regular check-ins, visible metrics, and recognition systems, organizations can foster an environment where employees are motivated to perform at their best. Embracing these techniques not only enhances productivity and engagement but also helps build a supportive and transparent remote work culture. As remote work continues to evolve, leveraging the principles of the Hawthorne Effect thoughtfully can lead to sustained improvements in performance and overall job satisfaction.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
The economics of remote work are multifaceted and far-reaching. For businesses, the potential for cost savings and enhanced productivity are compelling reasons to embrace this shift. Employees benefit from reduced expenses and improved work-life balance, although challenges persist. The broader economic landscape will continue to evolve as remote work becomes a permanent feature of the modern workplace. By comprehending and addressing these economic implications, businesses and employees can thrive in this new era of work.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Welcome to Season 9 of the Behavioral Economics in Marketing podcast. This season, we are dedicating our entire series to a topic that has reshaped the professional landscape: remote work. The COVID-19 pandemic accelerated the adoption of remote work, making it the norm for many organizations worldwide. As we navigate this new reality, it's crucial to understand how behavioral economics can provide valuable insights into the dynamics of remote work. In this podcast, we'll explore theories and concepts that explain human behavior, decision-making, and interactions within distributed teams. By understanding these psychological and economic principles, we can better navigate the challenges and opportunities presented by remote work. Join us as we explore how these insights can enhance productivity, cooperation, and overall well-being in the remote work landscape.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
🚨 Season 9 of Behavioral Economics in Marketing Starts This Thursday! 🚨
I’m Sandra Thomas-Comenole, and I’m excited to kick off Season 9 with fresh insights on remote work and its impact on marketing and leadership.
In Episode 1, we’ll explore how behavioral economics shapes remote work dynamics and what you can do to boost performance and collaboration in a virtual world.
This season, we’ll cover:
- The economics of remote work and its transformation
- The Hawthorne Effect and its influence on remote work
- Reciprocity and building team cooperation
- Hyperbolic Discounting and productivity
- And much more!
🎧 Tune in this Thursday for Episode 1, and in the meantime, make sure you’re following us online and check out our brand-new website at www.behavioraleconomicsinmarketing.com !
🎧 Discover the New Behavioral Economics in Marketing Website!
Explore exclusive content and discover amazing resources that will elevate your marketing strategy. Plus, don’t miss out on our exclusive merch and check out the trusted affiliates and partners that can help you take your marketing game to the next level.
Visit www.BehavioralEconomicsinMarketing.com today and join the Behavioral Economics in Marketing community!
In the dynamic landscape of e-commerce, where a plethora of products and services beckon consumers with enticing options, the paradox of choice emerges as a significant challenge. As online shoppers navigate through an expansive array of offerings, the abundance of choices can lead to decision fatigue, indecision, and diminished satisfaction. In this episode, we delve into the intriguing realm of "The Paradox of Choice in E-Commerce." Drawing insights from behavioral economics, we explore innovative strategies designed to streamline online decisions and enhance the overall shopping experience. From understanding the psychology behind consumer choices to implementing effective decision-making frameworks, we unravel the complexities of choice overload and present practical solutions for both online retailers and consumers alike. Join us as we navigate the intricate web of decision-making in the digital marketplace and discover how behavioral economics can be harnessed to create a more user-friendly and satisfying e-commerce environment.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
In the intricate world of email marketing, the concept of anchoring plays a pivotal role in shaping consumer perceptions of value. Just as a ship relies on its anchor to stay grounded, email marketers strategically utilize pricing as an anchor point to influence how recipients perceive the value of their offerings. This episode delves into the art and science of anchoring in email pricing, exploring how marketers strategically set price points to maximize perceived value and enhance customer engagement. By understanding the psychology behind anchoring, marketers can navigate the currents of consumer decision-making and chart a course towards more effective and persuasive email marketing strategies.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
In the realm of marketing, the "Promotion" is not merely a communication tool; it encapsulates the essence of a brand's identity and the pledge it extends to its consumers. Positioned as a cornerstone within the 4Ps framework, Promotion is the heartbeat of a company's marketing strategy, embodying advertising, public relations, sales promotions, and the messaging that addresses consumer needs. From captivating campaigns to impactful brand storytelling, each promotional effort is a meticulously crafted representation of a brand's value proposition. Join us on a journey as we unravel the significance of "Promotion" in the 4Ps of marketing, exploring how it serves as the focal point for consumer engagement, brand differentiation, and the ultimate expression of a company's commitment to meeting the evolving demands of its audience.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
In this special episode of the beahvioral economics in marketing podcast, we challenge our human nature to rely solely on perceptions and knee-jerk reactions, both in marketing strategies and interpersonal relationships, by flipping the script on the availability heuristic. As George Harrison once sang in "Got My Mind Set on You," "It's gonna take time, a whole lot of precious time," highlighting the essence of patience and persistence required to transform perceptions and reshape narratives. Just as Harrison urged perseverance in matters of the heart, so too do we confront biases and preconceptions to create more accurate and meaningful connections in the worlds of marketing and personal interactions. Through proactive steps and unwavering dedication, we unravel the power of flipping the script, unlocking new possibilities and fostering deeper understanding and trust. Join us as we navigate the complexities of perception, challenging conventions, and embracing the transformative potential within each of us.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
In the ever-evolving landscape of marketing, businesses are increasingly recognizing the power of social proof, not only in the digital realm but also within the physical spaces where consumers make tangible decisions. From bustling retail stores to local eateries, the concept of social proof extends its influence into our everyday surroundings. In this episode, we'll explore how businesses strategically harness the collective choices and behaviors of consumers within specific locations, examining the impact of social proof on decision-making in the physical world.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
In this episode, we delve into the dynamic interplay of scarcity and location within the realm of pop-up shops. As we explore the captivating synergy between these two powerful elements, we dissect ways marketers can strategically leverage scarcity and location to amplify the impact of temporary retail experiences. From the creation of exclusive products and limited-time offers that induce a sense of urgency to the meticulous selection of high-traffic or culturally resonant locations, we unravel the tactics that transform pop-up shops into not only temporal retail spaces but also immersive, sought-after destinations. Join us on this insightful journey as we discuss the art of crafting compelling narratives that seamlessly blend scarcity and location, capturing the attention and engagement of consumers seeking both the extraordinary and the immediate in the world of pop-up retail.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
This episode delving into the intricacies of the "Place" element in marketing, it becomes evident that the strategic decisions surrounding distribution and accessibility are paramount to a brand's success. From the careful selection of retail locations to the seamless management of logistics, "Place" serves as the linchpin in connecting products or services with the right audience. Our exploration has unveiled the significance of aligning distribution strategies with consumer behaviors and preferences, underscoring the pivotal role Place plays in the overall marketing mix. As businesses navigate an ever-evolving landscape, the ability to adapt and optimize their "Place" strategies will continue to be a key driver for success, fostering not only accessibility but also meaningful connections between brands and consumers.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Market segmentation is a marketing strategy that involves dividing a broad target market into subsets or segments based on certain characteristics, preferences, behaviors, or needs shared by the individuals within each segment. The purpose of market segmentation is to better understand and address the diverse needs of different customer groups, allowing businesses to tailor their marketing efforts and offerings to specific segments.
📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Sales channels, in the context of business and marketing, refer to the various avenues or methods through which a company distributes and sells its products or services to customers.
📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Dual process theory provides invaluable insights into the interplay between reactive responses and deliberate decisions in both personal and business contexts. Understanding the dynamic interaction between System 1 and System 2 thinking allows individuals to navigate high-pressure situations with greater awareness and efficacy. By recognizing when instinctual reactions dominate and consciously engaging System 2 thinking, individuals can make more informed and balanced decisions that align with their long-term goals and values. Strategies such as recognizing impulsive triggers, pausing to reflect, considering alternatives, seeking support, setting clear boundaries, making decisions before they become reactions and fostering open communication facilitate this process of switching between reactive responses and deliberate decisions. Mastering this ability empowers individuals to navigate the complexities of personal and professional life with resilience and foresight, ultimately fostering success and well-being.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
In this episode, we delve into the intricate dynamics that shape how individuals perceive and derive pleasure from products over time. Hedonic adaptation, a process where the initial delight of a purchase diminishes with familiarity, poses a unique challenge for marketers seeking to sustain consumer joy beyond the point of sale. In this episode we unraveled the strategies and insights that empower marketers to navigate this psychological landscape, ensuring that the post-purchase experience remains a source of sustained delight for consumers long after the excitement of the initial acquisition fades.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
SEO is the practice of optimizing websites or online content to improve their visibility and ranking on search engine results pages (SERPs). The primary goal of SEO is to enhance the chances of a website or web page being found by users when they search for relevant keywords or phrases on search engines like Google, Bing, or Yahoo.
📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Fixed costs are essential components of a business's cost structure that remain constant regardless of the level of production or sales. These costs do not vary with the quantity of goods or services produced and remain stable over a specific period. Examples of fixed costs include rent for facilities, salaries of permanent staff, insurance premiums, and certain types of equipment depreciation. Unlike variable costs, which fluctuate with production volumes, fixed costs provide a foundational understanding of the minimum expenses a business must cover to operate, irrespective of its output. Efficient management of fixed costs is crucial for businesses in budgeting and financial planning, as it helps determine the break-even point and overall profitability.
📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
In this episode, we unravel the subtle but powerful cognitive bias that leads individuals to place greater value on immediate rewards while discounting the significance of delayed gratification. Temporal discounting poses a unique challenge for marketers seeking to orchestrate successful product launches, as consumers are inherently wired to prioritize short-term gains. Join us as we navigate the strategies and psychological insights that can counteract the allure of instant rewards, offering marketers a roadmap to overcome temporal discounting and shape product launches that resonate with the complexities of human decision-making.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
SEM is a digital marketing strategy that involves promoting websites by increasing their visibility in search engine results pages (SERPs) through paid advertising. SEM encompasses various paid advertising methods, with the most common being Pay-Per-Click (PPC) advertising.
📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Left-digit pricing is a pricing strategy where the leftmost digit of a product's price is reduced by one unit, such as pricing an item at $9.99 instead of $10. This psychological pricing technique takes advantage of the way consumers perceive prices, as the reduction of that leftmost digit tends to make the price appear significantly lower, even if the actual difference is minimal. Left-digit pricing is widely used in retail and marketing to create a perception of affordability and attract price-sensitive consumers. By setting prices just below the next whole number, businesses aim to influence consumer perceptions and increase the likelihood of purchase, leveraging the impact of perceived affordability on consumer behavior.
📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
The Veblen Effect, with its roots in the desire for social distinction, has illuminated the complex interplay between consumer choices and societal signals of status. This episode has unraveled the mystique behind the allure of luxury, showcasing how the price tag of certain goods becomes a symbol of exclusivity and prestige. In the tapestry of behavioral economics, the Veblen Effect serves as a poignant reminder that, in the world of luxury, value is not solely derived from utility but is intricately woven with the threads of social perception and aspiration. As consumers continue to navigate the intersection of desire and societal signaling, the Veblen Effect remains a compelling force that shapes the landscape of conspicuous consumption and challenges traditional economic theories.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
SMM is a digital marketing strategy that involves the use of social media platforms to promote products, services, or brands. The primary goal of SMM is to create and share content that engages and attracts the target audience, ultimately driving brand awareness, website traffic, and customer engagement.
📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
In business and marketing, pain points refer to specific problems or challenges that customers experience, causing discomfort or dissatisfaction. These pain points can range from inconveniences and frustrations to more significant obstacles that hinder a customer's ability to achieve their goals or desires. Identifying and understanding these pain points is crucial for businesses seeking to provide effective solutions and improve customer satisfaction. By addressing and alleviating these challenges, companies can develop products or services that directly meet the needs of their target audience, fostering customer loyalty and enhancing overall user experience. Effectively navigating and solving pain points is a key aspect of customer-centricity in today's competitive markets.
📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
In the realm of marketing, the 'Product' is not merely a tangible item; it embodies the essence of a brand's identity and the promise it extends to its consumers. Positioned as one of the fundamental elements in the 4Ps framework, the Product is the heart of a company's marketing strategy, embodying features, design, quality, and the solution it provides to consumer needs. From innovative gadgets to life-changing services, each product is a meticulously crafted embodiment of a brand's value proposition. Join us on a journey as we unravel the significance of the 'Product' in the 4Ps of marketing, exploring how it serves as the focal point for consumer engagement, brand differentiation, and the ultimate expression of a company's commitment to meeting the evolving demands of its audience.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Welcome to a special episode of the "Behavioral Economics in Marketing Podcast," where we delve into the intriguing dynamics of iterative moves, Nash equilibrium, and breaking stalemates in high-stakes scenarios. Join us as we explore the intersection of game theory, psychology, and decision-making in various aspects of business and interpersonal relationships. From navigating salary negotiations to leading teams through complex challenges, and even navigating the complexities of dating dynamics, we'll uncover how understanding Nash equilibrium and iterative strategies can provide valuable insights into breaking deadlocks and achieving favorable outcomes. Get ready to embark on a journey of strategic thinking and behavioral insights as we unravel the complexities of high-stakes Nash equilibriums in both professional and personal contexts.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
The principle of perceived value refers to the subjective assessment or judgment that a consumer makes about the worth or desirability of a product or service. Perceived value is not solely based on objective qualities or features of a product; instead, it involves the consumer's perception of the overall benefits, quality, and satisfaction derived from using the product or service.
📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Disruptive technologies are innovations that significantly alter the way industries or markets function, often replacing established products, services, or entire business models. These technologies introduce new and more efficient ways of doing things, challenging traditional approaches and reshaping the competitive landscape. Disruptive technologies can emerge across various sectors, ranging from information technology to healthcare and transportation. Unlike incremental innovations, which improve upon existing technologies, disruptive technologies can revolutionize entire industries, leading to rapid and profound changes. Businesses that successfully embrace and adapt to disruptive technologies can gain a competitive edge, while those that resist or ignore them risk becoming obsolete in a rapidly evolving market.
📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
In this episode, we delve into the fascinating realm of the Decoy Effect and its profound influence on consumer decision-making within your pricing structure. Imagine a scenario where a seemingly innocuous third option holds the key to steering customers towards your preferred choices. The Decoy Effect, a subtle yet powerful phenomenon in behavioral economics, unveils the art of guiding consumer choices through strategic pricing.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
The Intention-Action Gap is a social psychology and behavioral economics theory that describes the occurrence of when one’s values, attitudes or intentions do not correlate with their actions. It is the failure to convert intentions into action and behavior. In other words, it is the difference between what people say they will do and what people actually do.
📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Differentiation in business refers to the strategy of making a product or service unique and distinct from competitors in the eyes of customers. By highlighting unique features, benefits, or attributes, companies aim to create a competitive advantage that sets them apart in the market. This strategy involves offering something that is perceived as valuable and difficult for competitors to replicate, ultimately leading to customer preference and loyalty. Differentiation can take various forms, including product innovation, superior quality, exceptional customer service, or even distinctive branding. The goal is to carve out a niche and establish a strong market position based on the perceived uniqueness of the offering.
📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
In a world where time is a precious commodity, consumer impatience has become a driving force shaping purchasing decisions. Drawing from the wisdom of the Christian Bible, Matthew 6:21 aptly reminds us, 'For where your treasure is, there your heart will be also.' This biblical insight resonates with the modern reality that how individuals allocate their resources, including time and money, reflects their true priorities. Understanding the principles of time discounting, where individuals place higher value on immediate rewards over future gains, opens the door to dynamic pricing strategies that align with these temporal preferences. This episode delves into the psychology of time and explores actionable strategies businesses can employ to address consumer impatience through dynamic pricing.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
The paradox of choice is a concept in psychology and economics that suggests that having too many choices can lead to decision-making difficulties, dissatisfaction, and a sense of overwhelm for individuals. The idea is that while having choices is generally considered positive, an abundance of options can create negative consequences, making it challenging for people to make decisions and ultimately reducing their overall satisfaction with the chosen option.
📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Dynamic pricing is a pricing strategy where the cost of a product or service fluctuates based on real-time market demand, supply, and other relevant factors. Unlike fixed pricing, which remains constant, dynamic pricing allows businesses to adjust prices dynamically in response to changing market conditions. This strategy is commonly used in industries such as e-commerce, hospitality, and transportation. By leveraging algorithms and data analysis, companies can optimize their pricing to maximize revenue, respond to changes in consumer behavior, and stay competitive in a dynamic market environment. Dynamic pricing enables businesses to set prices that reflect the current value of their offerings, enhancing flexibility and responsiveness to market dynamics.
📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
In this episode we reveal the synergy of behavioral economics, marketing, and pricing strategy for business success. By weaving these threads into a strategic fabric, businesses can navigate the complexities of consumer behavior, optimize pricing, and chart a course for sustained success. Embrace the art of strategic pricing to elevate your business in the dynamic landscape of today's markets.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
In this episode, we are considering asymmetric information. The term asymmetric information describes when one party in an economic transaction possesses greater material knowledge than the other party.
📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Channel marketing is the strategic approach that companies use to get their products into the hands of consumers through various intermediary businesses. Instead of selling directly to end-users, companies collaborate with middlemen such as retailers, wholesalers, and distributors to ensure their products are available in different locations. This approach allows businesses to tap into the expertise and reach of these intermediaries, expanding their market presence and enhancing the overall distribution process. Channel marketing involves forming and managing partnerships, providing support to intermediaries, and implementing strategies to optimize product accessibility and boost sales.
📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
The 4Ps of marketing are not static principles but dynamic elements shaped by the nuances of human behavior. From the psychological impact of pricing strategies to the subtle cues influencing purchasing decisions, our journey today has peeled back the layers of marketing's strategic core. As we navigate this evolving landscape, it's clear that embracing behavioral economics opens doors to more effective, consumer-centric marketing strategies.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
The principle of reciprocity is a social and psychological concept that describes the human tendency to respond to positive actions with positive actions, and negative actions with negative actions. In other words, individuals feel a sense of obligation to return favors, kindness, or positive gestures they have received from others. Reciprocity is a fundamental aspect of social exchange and plays a crucial role in building and maintaining social relationships.
📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Nash Equilibrium is a fundamental concept in game theory that captures a situation in which each participant's strategy is optimal given the strategies chosen by others. Coined after mathematician John Nash, this equilibrium represents a state where no player has an incentive to unilaterally change their strategy, as doing so would not result in a better outcome for them. Essentially, it's a scenario where everyone's choices are interdependent, and no individual can improve their position by deviating from their current strategy, creating a stable and balanced situation in strategic decision-making.
📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Welcome back to Season 8 of our Behavioral Economics in Marketing podcast, where we unravel the intricate dance between consumer behavior and the marketing universe. This season, our spotlight is firmly fixed on the foundational pillars of marketing—the elusive 4Ps. Prepare to delve into the psychological intricacies behind Product, Price, Place, and Promotion as we navigate the landscape of decision-making biases, pricing illusions, and strategic promotional maneuvers. This isn't just marketing theory; it's a journey into the minds of consumers and the art of influencing their choices. So, fasten your seatbelts for a season loaded with intriguing insights, where behavioral economics meets the heart of marketing strategy.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
🎙️ Exciting Announcement for February 1st!
🚀 Brace yourselves for an exhilarating journey into the world of marketing and behavioral economics! Starting February 1st, the Behavioral Economics in Marketing podcast is launching a brand-new season that will unravel the intricacies of consumer behavior, blending insights from psychology and marketing strategy.
🧠✨ Get ready for deep dives into pricing and time discounting, product satisfaction and hedonic adaptation, the influence of place and social proof, and the paradox of choice in promotion. Each episode is a captivating exploration, unlocking the secrets that shape the way we make decisions in the marketplace.
🌟 Subscribe now and mark your calendars! This season is your ticket to understanding the fascinating interplay between marketing and the quirks of human behavior. Let the countdown begin! ⏰🎧
Welcome to a special episode dedicated to the art of perspective—a lens through which we interpret the world around us. In this brief but impactful journey, we'll delve into the intricacies of how our viewpoints shape our understanding of situations. Drawing inspiration from the fascinating realm of behavioral economics, we'll explore key concepts that challenge the norm and prompt us to reconsider the familiar. Get ready to elevate your awareness as we unravel the mysteries of perspective in this uniquely insightful episode.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
🎙️ **Get ready for a mind-bending journey! Season 8 of our Behavioral Economics in Marketing podcast, hosted by Sandra Thomas-Comenole, is launching on February 1! 🚀 Join us as we unravel the fascinating interplay between consumer behavior and the marketing universe. 🕵️♂️ This season, we're putting the spotlight on the cornerstone of marketing—the mysterious 4Ps. 🌟 Explore the intricate psychology behind Product, Price, Place, and Promotion, delving into decision-making biases, pricing illusions, and strategic promotional maneuvers. 🧠💡 It's not just marketing theory; it's a captivating exploration into the minds of consumers and the art of influencing their choices. 🚀 Fasten your seatbelts for a season brimming with eye-opening insights, where behavioral economics converges with the essence of marketing strategy. Don't miss the launch on February 1! #MarketingInsights #BehavioralEconomics #PodcastLaunch #MarketingStrategy #Season8Countdown 🎙️🚀
Welcome to this special New Year's episode of the Behavioral Economics in Marketing podcast, where we embark on a unique exploration at the crossroads of personal and professional growth through the lens of game theory. In this episode, we draw inspiration from the historical narrative of the conquistador Hernan Cortes, examining how his strategic decisions align with game theory concepts. As we delve into the tale of burning ships and unwavering commitment, we uncover valuable insights applicable to our own resolutions, both personal and professional. Join us on this journey as we unravel the game theory principles behind Cortes' conquest and discover how they can shape our strategies for growth in the coming year.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
In the dynamic and competitive world of business, gamification offers entrepreneurs a powerful and versatile tool to connect with customers, engage employees, and drive brand success. By blending fun, motivation, and rewards, gamification can transform mundane tasks into thrilling experiences, turning customers into brand advocates and teams into high-performing champions. Entrepreneurs willing to embrace gamification can level up their businesses, creating memorable and rewarding journeys for all stakeholders involved. So, if you're ready to embark on an epic adventure, start integrating gamification into your business strategy and watch your success soar to new heights.
Season 7 - Behavioral Economics of Entrepreneurship
In the world of entrepreneurship, success often hinges on understanding the intricate workings of human behavior and decision-making. Behavioral economics, a fascinating interdisciplinary field, delves into the psychology behind how individuals make choices, respond to incentives, and process information. In the realm of marketing, applying behavioral economics principles can be a game-changing strategy for entrepreneurs seeking to connect with their target audience, drive sales, and foster brand loyalty. By harnessing insights from behavioral economics, entrepreneurs can craft more persuasive and effective marketing campaigns, leveraging the quirks of human psychology to their advantage. In this series of the behavioral economics in marketing podcast, we will explore the exciting intersection of behavioral economics and marketing, unveiling how this innovative approach can transform entrepreneurial ventures into resounding successes.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute.
Welcome to a special Christmas episode of the Behavioral Economics in Marketing podcast, where tinsel meets tactics, and the holiday spirit intersects with the science of consumer behavior. In the intricate dance of marketing, clarity reigns supreme. Just as in the world of dating, where miscommunication can derail connections, this special episode of the Behavioral Economics in Marketing podcast has spotlighted the stumbling blocks to avoid. Whether it's inconsistent messaging, neglecting personalization, lacking transparency, assuming prior knowledge, or dismissing responsiveness, each hurdle presents an opportunity to enhance clarity.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute.
The IKEA effect is a powerful psychological phenomenon that entrepreneurs can leverage to transform the product development process into an interactive and emotionally fulfilling journey. By empowering customers through co-creation, DIY experiences, and iterative design, entrepreneurs can strengthen the emotional connection between customers and their products. Engaging customers in the journey, storytelling, and community-building fosters brand loyalty and advocacy. As entrepreneurs embrace the IKEA effect in their product development strategies, they tap into the intrinsic motivations of customers, creating products that are not just possessions but cherished creations born out of collaboration and shared experiences.
Season 7 - Behavioral Economics of Entrepreneurship
In the world of entrepreneurship, success often hinges on understanding the intricate workings of human behavior and decision-making. Behavioral economics, a fascinating interdisciplinary field, delves into the psychology behind how individuals make choices, respond to incentives, and process information. In the realm of marketing, applying behavioral economics principles can be a game-changing strategy for entrepreneurs seeking to connect with their target audience, drive sales, and foster brand loyalty. By harnessing insights from behavioral economics, entrepreneurs can craft more persuasive and effective marketing campaigns, leveraging the quirks of human psychology to their advantage. In this series of the behavioral economics in marketing podcast, we will explore the exciting intersection of behavioral economics and marketing, unveiling how this innovative approach can transform entrepreneurial ventures into resounding successes.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute.
The status quo bias can be a formidable obstacle on the path to entrepreneurship, clouding the vision and hindering the pursuit of innovative ideas. However, by challenging preconceived notions, embracing a growth mindset, surrounding oneself with visionaries, and creating a supportive environment for experimentation, aspiring entrepreneurs can avoid the grasp of this cognitive bias. Visualization and setting ambitious goals empower individuals to step out of their comfort zones and embark on a journey of entrepreneurship with confidence and resilience. Breaking free from the status quo, entrepreneurs can forge their own paths, embrace uncertainty, and turn their passions into purposeful ventures that redefine the future of business and innovation.
Season 7 - Behavioral Economics of Entrepreneurship
In the world of entrepreneurship, success often hinges on understanding the intricate workings of human behavior and decision-making. Behavioral economics, a fascinating interdisciplinary field, delves into the psychology behind how individuals make choices, respond to incentives, and process information. In the realm of marketing, applying behavioral economics principles can be a game-changing strategy for entrepreneurs seeking to connect with their target audience, drive sales, and foster brand loyalty. By harnessing insights from behavioral economics, entrepreneurs can craft more persuasive and effective marketing campaigns, leveraging the quirks of human psychology to their advantage. In this series of the behavioral economics in marketing podcast, we will explore the exciting intersection of behavioral economics and marketing, unveiling how this innovative approach can transform entrepreneurial ventures into resounding successes.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute.
The journey of entrepreneurship is a rewarding adventure filled with learning and growth. By leveraging the right resources, you can enhance your chances of success and overcome obstacles with confidence. Whether you're seeking knowledge, funding, mentorship, or guidance, the resources outlined in this episode can serve as a compass on your entrepreneurial path. Empower yourself with these essential tools and resources, and embark on a transformative journey to build a thriving and successful business that leaves a lasting impact.
Season 7 - Behavioral Economics of Entrepreneurship
In the world of entrepreneurship, success often hinges on understanding the intricate workings of human behavior and decision-making. Behavioral economics, a fascinating interdisciplinary field, delves into the psychology behind how individuals make choices, respond to incentives, and process information. In the realm of marketing, applying behavioral economics principles can be a game-changing strategy for entrepreneurs seeking to connect with their target audience, drive sales, and foster brand loyalty. By harnessing insights from behavioral economics, entrepreneurs can craft more persuasive and effective marketing campaigns, leveraging the quirks of human psychology to their advantage. In this series of the behavioral economics in marketing podcast, we will explore the exciting intersection of behavioral economics and marketing, unveiling how this innovative approach can transform entrepreneurial ventures into resounding successes.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute.
By integrating behavioral economics principles into your referral marketing strategy, you can elevate your business's growth and harness the power of human behavior. Leveraging social proof, reciprocity, nudging, scarcity, personalization, and gamification will make your referral program irresistible to customers. Remember, building strong relationships with your customers and providing exceptional value are the keys to fostering a culture of referral, creating a cycle of continuous growth for your business. So, take action now, and let the magic of behavioral economics propel your referral business to new heights!
Season 7 - Behavioral Economics of Entrepreneurship
In the world of entrepreneurship, success often hinges on understanding the intricate workings of human behavior and decision-making. Behavioral economics, a fascinating interdisciplinary field, delves into the psychology behind how individuals make choices, respond to incentives, and process information. In the realm of marketing, applying behavioral economics principles can be a game-changing strategy for entrepreneurs seeking to connect with their target audience, drive sales, and foster brand loyalty. By harnessing insights from behavioral economics, entrepreneurs can craft more persuasive and effective marketing campaigns, leveraging the quirks of human psychology to their advantage. In this series of the behavioral economics in marketing podcast, we will explore the exciting intersection of behavioral economics and marketing, unveiling how this innovative approach can transform entrepreneurial ventures into resounding successes.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute.
A business plan is a comprehensive written document that outlines the goals, strategies, operations, financial projections, and other important aspects of a business. It serves as a roadmap for the organization, providing a clear and structured outline of how the business will be conceived, developed, and operated. Business plans are typically used for various purposes, including securing financing, guiding company operations, and communicating the company's vision to stakeholders.
📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Leveraging scarcity is a proven technique to close sales and increase customer engagement. By creating a sense of urgency and exclusivity, you tap into customers' fear of missing out and drive them to take immediate action. However, it's essential to use scarcity ethically and honestly, ensuring that the limited availability is genuine and aligns with the value you provide. When applied strategically, scarcity can be a powerful tool to boost conversions, create brand loyalty, and drive long-term business success.
Season 7 - Behavioral Economics of Entrepreneurship
In the world of entrepreneurship, success often hinges on understanding the intricate workings of human behavior and decision-making. Behavioral economics, a fascinating interdisciplinary field, delves into the psychology behind how individuals make choices, respond to incentives, and process information. In the realm of marketing, applying behavioral economics principles can be a game-changing strategy for entrepreneurs seeking to connect with their target audience, drive sales, and foster brand loyalty. By harnessing insights from behavioral economics, entrepreneurs can craft more persuasive and effective marketing campaigns, leveraging the quirks of human psychology to their advantage. In this series of the behavioral economics in marketing podcast, we will explore the exciting intersection of behavioral economics and marketing, unveiling how this innovative approach can transform entrepreneurial ventures into resounding successes.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute.
Intellectual property (IP) refers to a category of legally recognized and protected assets that are the result of creative or intellectual effort.
These assets are intangible in nature and can include a wide range of creations and innovations produced by individuals, businesses, or organizations. Intellectual property rights provide legal protection and ownership of these intangible assets, allowing creators and inventors to control and benefit from their work.
📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
The availability heuristic is all about being top of mind. Developing a strong, punchy elevator pitch can help marketing and sales leaders get their point across and have it stick, developing that top of mind recognition.
Season 7 - Behavioral Economics of Entrepreneurship
In the world of entrepreneurship, success often hinges on understanding the intricate workings of human behavior and decision-making. Behavioral economics, a fascinating interdisciplinary field, delves into the psychology behind how individuals make choices, respond to incentives, and process information. In the realm of marketing, applying behavioral economics principles can be a game-changing strategy for entrepreneurs seeking to connect with their target audience, drive sales, and foster brand loyalty. By harnessing insights from behavioral economics, entrepreneurs can craft more persuasive and effective marketing campaigns, leveraging the quirks of human psychology to their advantage. In this series of the behavioral economics in marketing podcast, we will explore the exciting intersection of behavioral economics and marketing, unveiling how this innovative approach can transform entrepreneurial ventures into resounding successes.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute.
Customer segments, in the context of marketing and business strategy, refer to distinct groups of customers or potential customers who share similar characteristics, needs, behaviors, and preferences. Identifying and categorizing customer segments is a fundamental part of market segmentation, a strategic approach used by businesses to better understand their target audience and tailor their products, services, marketing efforts, and customer experiences to meet the specific demands of each group.
📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
A Minimum Viable Product (MVP) is the simplest and most basic version of a product or service that a company can create and release to the market to test its concept, gather feedback, and learn from user interactions. The primary goal of developing an MVP is to validate whether there is a demand for the product or service and to understand how users engage with it, without investing excessive time and resources in its full development.
📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Developing an elevator pitch is essential for entrepreneurs to communicate their business effectively, make strong first impressions, seize opportunities, and build meaningful connections with stakeholders. Having a well-crafted elevator pitch at the ready can be a game-changer in the dynamic and fast-paced world of entrepreneurship.
Season 7 - Behavioral Economics of Entrepreneurship
In the world of entrepreneurship, success often hinges on understanding the intricate workings of human behavior and decision-making. Behavioral economics, a fascinating interdisciplinary field, delves into the psychology behind how individuals make choices, respond to incentives, and process information. In the realm of marketing, applying behavioral economics principles can be a game-changing strategy for entrepreneurs seeking to connect with their target audience, drive sales, and foster brand loyalty. By harnessing insights from behavioral economics, entrepreneurs can craft more persuasive and effective marketing campaigns, leveraging the quirks of human psychology to their advantage. In this series of the behavioral economics in marketing podcast, we will explore the exciting intersection of behavioral economics and marketing, unveiling how this innovative approach can transform entrepreneurial ventures into resounding successes.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute.
Venture capital (VC) is a form of private equity financing provided to early-stage, high-potential, and often high-risk startups and small companies with the aim of helping them grow and achieve their business objectives. Venture capitalists are typically professional investors who manage pooled funds from various sources, including institutional investors, wealthy individuals, and corporate entities. These venture capital funds are used to invest in startups and emerging companies in exchange for ownership equity or convertible debt in the company.
📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
In today's crowded and competitive marketplace, creating brand awareness is essential for any business looking to stand out from the crowd. However, with countless messages bombarding consumers daily, capturing their attention and making a lasting impression can be challenging. This is where the concept of salience comes into play. Salience, in marketing, refers to the prominence or perceptual distinctiveness of a brand in the minds of consumers. By understanding and harnessing the power of salience, businesses can break through the noise, create a lasting impact, and forge a strong emotional connection with their target audience. In this episode, we'll explore how salience can elevate your brand awareness strategies to new heights and make your business unforgettable in the hearts and minds of consumers.
Season 7 - Behavioral Economics of Entrepreneurship
In the world of entrepreneurship, success often hinges on understanding the intricate workings of human behavior and decision-making. Behavioral economics, a fascinating interdisciplinary field, delves into the psychology behind how individuals make choices, respond to incentives, and process information. In the realm of marketing, applying behavioral economics principles can be a game-changing strategy for entrepreneurs seeking to connect with their target audience, drive sales, and foster brand loyalty. By harnessing insights from behavioral economics, entrepreneurs can craft more persuasive and effective marketing campaigns, leveraging the quirks of human psychology to their advantage. In this series of the behavioral economics in marketing podcast, we will explore the exciting intersection of behavioral economics and marketing, unveiling how this innovative approach can transform entrepreneurial ventures into resounding successes.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute.
A pitch deck is a concise and visually engaging presentation that provides an overview of a business idea, startup, or project to potential investors, partners, or stakeholders. It is an essential tool for entrepreneurs and business leaders seeking to convey their vision, business model, and value proposition in a compelling and structured format. Pitch decks are typically used during meetings, presentations, or pitch events to spark interest and secure financial support or partnerships.
📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
For bootstrapped businesses, the marketing journey may seem challenging, but with a dash of creativity and strategic thinking, success is well within reach. By focusing on creating valuable content, leveraging social proof, optimizing email marketing, embracing UGC, collaborating with influencers, and nurturing customer loyalty, bootstrapped businesses can effectively traverse the marketing funnel on a shoestring budget. Each step of the funnel presents an opportunity to connect with the audience authentically and drive conversions, ultimately propelling the business towards growth and long-term success. Remember, creativity and innovation are the pillars of bootstrapped marketing, and with persistence and dedication, your entrepreneurial journey can flourish on even the most modest budget.
Season 7 - Behavioral Economics of Entrepreneurship
In the world of entrepreneurship, success often hinges on understanding the intricate workings of human behavior and decision-making. Behavioral economics, a fascinating interdisciplinary field, delves into the psychology behind how individuals make choices, respond to incentives, and process information. In the realm of marketing, applying behavioral economics principles can be a game-changing strategy for entrepreneurs seeking to connect with their target audience, drive sales, and foster brand loyalty. By harnessing insights from behavioral economics, entrepreneurs can craft more persuasive and effective marketing campaigns, leveraging the quirks of human psychology to their advantage. In this series of the behavioral economics in marketing podcast, we will explore the exciting intersection of behavioral economics and marketing, unveiling how this innovative approach can transform entrepreneurial ventures into resounding successes.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute.
A business model is a strategic framework that outlines how a company plans to create, deliver, and capture value in the market. It describes the fundamental way in which a business operates, generates revenue, and sustains itself financially. A well-defined business model helps clarify key aspects of a company's operations, including its target customers, value proposition, revenue sources, and cost structure.
📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Marketing Funnel Fundamentals: A Beginner's Guide to Success
The marketing funnel is a valuable framework for understanding how consumers move through the buying process and allows marketers to tailor their strategies and messaging to meet the specific needs of customers at each stage. It helps businesses identify areas where potential customers may drop off and optimize their marketing efforts to maximize conversions and sales.
Season 7 - Behavioral Economics of Entrepreneurship
In the world of entrepreneurship, success often hinges on understanding the intricate workings of human behavior and decision-making. Behavioral economics, a fascinating interdisciplinary field, delves into the psychology behind how individuals make choices, respond to incentives, and process information. In the realm of marketing, applying behavioral economics principles can be a game-changing strategy for entrepreneurs seeking to connect with their target audience, drive sales, and foster brand loyalty. By harnessing insights from behavioral economics, entrepreneurs can craft more persuasive and effective marketing campaigns, leveraging the quirks of human psychology to their advantage. In this series of the behavioral economics in marketing podcast, we will explore the exciting intersection of behavioral economics and marketing, unveiling how this innovative approach can transform entrepreneurial ventures into resounding successes.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute.
In the business context, a "pivot" refers to a fundamental change in a company's strategy, direction, or focus, often in response to changing market conditions, customer feedback, or the need to explore new opportunities. Essentially, it involves making a significant shift in the core aspects of a business model while preserving certain elements that still hold value.
📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Unlocking Success: Defining Your Target Market for Business Growth
Defining your target audience is a crucial step in the marketing process for a new product or service. Understanding who your ideal customers are will help you tailor your marketing efforts and messaging to resonate with the right people. Here's a step-by-step guide to defining your target audience.
Season 7 - Behavioral Economics of Entrepreneurship
In the world of entrepreneurship, success often hinges on understanding the intricate workings of human behavior and decision-making. Behavioral economics, a fascinating interdisciplinary field, delves into the psychology behind how individuals make choices, respond to incentives, and process information. In the realm of marketing, applying behavioral economics principles can be a game-changing strategy for entrepreneurs seeking to connect with their target audience, drive sales, and foster brand loyalty. By harnessing insights from behavioral economics, entrepreneurs can craft more persuasive and effective marketing campaigns, leveraging the quirks of human psychology to their advantage. In this series of the behavioral economics in marketing podcast, we will explore the exciting intersection of behavioral economics and marketing, unveiling how this innovative approach can transform entrepreneurial ventures into resounding successes.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute.
SWOT analysis is a strategic planning tool used by businesses and organizations to assess and evaluate their internal strengths and weaknesses, as well as external opportunities and threats in their operating environment.
📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Marketing Essentials 101: A Must-Have List for New Businesses
For new businesses, mastering the top ten marketing considerations is crucial for achieving success in today's competitive landscape. By carefully crafting a strong brand identity, understanding the target audience, and utilizing effective digital marketing strategies, new businesses can build a robust online presence and engage with their customers. Leveraging content marketing, social media, and search engine optimization allows them to create meaningful connections and generate valuable leads. Additionally, tapping into the power of customer reviews and testimonials, while staying compliant with data protection regulations, fosters trust and credibility. Adopting an omnichannel approach, measuring marketing performance, and being adaptable to market trends are vital for sustained growth and market relevance. Ultimately, by prioritizing these ten marketing considerations, new businesses can forge a path to long-term success and establish a solid foundation for continued expansion and prosperity.
Season 7 - Behavioral Economics of Entrepreneurship
In the world of entrepreneurship, success often hinges on understanding the intricate workings of human behavior and decision-making. Behavioral economics, a fascinating interdisciplinary field, delves into the psychology behind how individuals make choices, respond to incentives, and process information. In the realm of marketing, applying behavioral economics principles can be a game-changing strategy for entrepreneurs seeking to connect with their target audience, drive sales, and foster brand loyalty. By harnessing insights from behavioral economics, entrepreneurs can craft more persuasive and effective marketing campaigns, leveraging the quirks of human psychology to their advantage. In this series of the behavioral economics in marketing podcast, we will explore the exciting intersection of behavioral economics and marketing, unveiling how this innovative approach can transform entrepreneurial ventures into resounding successes.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute.
Scaling, in the context of business and entrepreneurship, refers to the process of growing and expanding a company's operations, revenues, and market reach. It involves increasing the size and scope of a business to accommodate higher demand, capture additional market share, and achieve long-term sustainability and profitability. Scaling is a crucial objective for many businesses as it allows them to realize their full potential and maximize their impact. There are various ways to scale a business, and the specific approach may vary depending on the company's goals, industry, and resources.
📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Taking the Leap: Strategies for Mitigating Risk in Entrepreneurship
Understanding risk preferences is of paramount importance for entrepreneurs on their journey to success. As risk-taking is inherent in entrepreneurship, being aware of one's risk appetite and tolerance can significantly impact decision-making and business strategies. Entrepreneurs can take several measures to mitigate risk in their business ventures. While it is impossible to eliminate all risks entirely, in this episode we discuss strategies that can help entrepreneurs minimize potential negative impacts and increase their chances of success.
Season 7 - Behavioral Economics of Entrepreneurship
In the world of entrepreneurship, success often hinges on understanding the intricate workings of human behavior and decision-making. Behavioral economics, a fascinating interdisciplinary field, delves into the psychology behind how individuals make choices, respond to incentives, and process information. In the realm of marketing, applying behavioral economics principles can be a game-changing strategy for entrepreneurs seeking to connect with their target audience, drive sales, and foster brand loyalty. By harnessing insights from behavioral economics, entrepreneurs can craft more persuasive and effective marketing campaigns, leveraging the quirks of human psychology to their advantage. In this series of the behavioral economics in marketing podcast, we will explore the exciting intersection of behavioral economics and marketing, unveiling how this innovative approach can transform entrepreneurial ventures into resounding successes.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute.
Angel investors play a critical role in the entrepreneurial ecosystem by providing startups with the initial capital they need to develop their products, validate their business models, and attract additional investment from venture capitalists or other sources as they grow. Their involvement goes beyond just financial support, as they often contribute valuable guidance and mentorship that can help early-stage companies succeed.
📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Understanding risk preferences is of paramount importance for entrepreneurs on their journey to success. As risk-taking is inherent in entrepreneurship, being aware of one's risk appetite and tolerance can significantly impact decision-making and business strategies. Whether entrepreneurs are risk-seekers, risk-averse, or adopt a more balanced approach, acknowledging and embracing their individual risk preferences allows them to navigate challenges and opportunities more effectively. By leveraging their risk preferences, entrepreneurs can tailor their ventures, investments, and marketing efforts to align with their unique strengths and comfort zones. Moreover, continuous self-awareness and learning about risk preferences can enable entrepreneurs to make informed choices, seize advantageous opportunities, and build resilient businesses that thrive amidst uncertainties. In the dynamic and ever-changing world of entrepreneurship, mastering risk preferences becomes a potent tool for driving innovation, growth, and long-term prosperity.
Season 7 - Behavioral Economics of Entrepreneurship
In the world of entrepreneurship, success often hinges on understanding the intricate workings of human behavior and decision-making. Behavioral economics, a fascinating interdisciplinary field, delves into the psychology behind how individuals make choices, respond to incentives, and process information. In the realm of marketing, applying behavioral economics principles can be a game-changing strategy for entrepreneurs seeking to connect with their target audience, drive sales, and foster brand loyalty. By harnessing insights from behavioral economics, entrepreneurs can craft more persuasive and effective marketing campaigns, leveraging the quirks of human psychology to their advantage. In this series of the behavioral economics in marketing podcast, we will explore the exciting intersection of behavioral economics and marketing, unveiling how this innovative approach can transform entrepreneurial ventures into resounding successes.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute.
Charting Your Course: Essential Considerations for New Business Ventures
Embarking on the journey of starting a new business is both a thrilling and daunting experience. The road to success is paved with careful planning, strategic thinking, and a keen understanding of various aspects that can impact the business's growth and sustainability. By focusing on the ten important considerations highlighted in this episode, new business owners can proactively address key challenges, make informed decisions, and build a strong foundation for their venture. With dedication, perseverance, and a commitment to continuous learning, entrepreneurs can navigate the complexities of entrepreneurship and steer their businesses towards a future filled with endless possibilities and rewarding accomplishments.
Season 7 - Behavioral Economics of Entrepreneurship
In the world of entrepreneurship, success often hinges on understanding the intricate workings of human behavior and decision-making. Behavioral economics, a fascinating interdisciplinary field, delves into the psychology behind how individuals make choices, respond to incentives, and process information. In the realm of marketing, applying behavioral economics principles can be a game-changing strategy for entrepreneurs seeking to connect with their target audience, drive sales, and foster brand loyalty. By harnessing insights from behavioral economics, entrepreneurs can craft more persuasive and effective marketing campaigns, leveraging the quirks of human psychology to their advantage. In this series of the behavioral economics in marketing podcast, we will explore the exciting intersection of behavioral economics and marketing, unveiling how this innovative approach can transform entrepreneurial ventures into resounding successes.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute.
Mastering the Art of Entrepreneurship: Essential Skillsets for Success
The diverse skillsets of entrepreneurs play a vital role in shaping their success and the growth of their ventures. Entrepreneurs must be multifaceted individuals who can wear multiple hats, adapt to various roles, and thrive in challenging environments. From visionary leadership and creative problem-solving to effective communication and resilience, each skill contributes to their ability to navigate obstacles, seize opportunities, and drive innovation. Furthermore, the continuous pursuit of knowledge, a willingness to learn from failures, and a growth mindset are essential attributes that fuel an entrepreneur's journey of constant improvement and self-discovery. As the entrepreneurial landscape continues to evolve, honing and expanding these skillsets becomes crucial for building sustainable and impactful businesses that make a difference in the world. With determination, passion, and a well-rounded set of skills, entrepreneurs can forge their path, overcome hurdles, and leave a lasting legacy in the realms of business and society.
Season 7 - Behavioral Economics of Entrepreneurship
In the world of entrepreneurship, success often hinges on understanding the intricate workings of human behavior and decision-making. Behavioral economics, a fascinating interdisciplinary field, delves into the psychology behind how individuals make choices, respond to incentives, and process information. In the realm of marketing, applying behavioral economics principles can be a game-changing strategy for entrepreneurs seeking to connect with their target audience, drive sales, and foster brand loyalty. By harnessing insights from behavioral economics, entrepreneurs can craft more persuasive and effective marketing campaigns, leveraging the quirks of human psychology to their advantage. In this series of the behavioral economics in marketing podcast, we will explore the exciting intersection of behavioral economics and marketing, unveiling how this innovative approach can transform entrepreneurial ventures into resounding successes.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute.
Fueling Prosperity: The Vital Importance of Entrepreneurship to the Economy
Entrepreneurship is the lifeblood of economic growth and innovation, driving progress and shaping the landscape of industries worldwide. The role of entrepreneurs extends far beyond the creation of new ventures; their impact ripples throughout the entire economy, fostering job creation, wealth generation, and technological advancements. In this episode, we will explore the profound significance of entrepreneurship to the economy and highlight the invaluable contributions made by visionary entrepreneurs. From driving innovation and competition to stimulating economic development, entrepreneurship plays a pivotal role in building resilient and prosperous societies.
Season 7 - Behavioral Economics of Entrepreneurship
In the world of entrepreneurship, success often hinges on understanding the intricate workings of human behavior and decision-making. Behavioral economics, a fascinating interdisciplinary field, delves into the psychology behind how individuals make choices, respond to incentives, and process information. In the realm of marketing, applying behavioral economics principles can be a game-changing strategy for entrepreneurs seeking to connect with their target audience, drive sales, and foster brand loyalty. By harnessing insights from behavioral economics, entrepreneurs can craft more persuasive and effective marketing campaigns, leveraging the quirks of human psychology to their advantage. In this series of the behavioral economics in marketing podcast, we will explore the exciting intersection of behavioral economics and marketing, unveiling how this innovative approach can transform entrepreneurial ventures into resounding successes.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute.
Season 7 - Behavioral Economics of Entrepreneurship
In the world of entrepreneurship, success often hinges on understanding the intricate workings of human behavior and decision-making. Behavioral economics, a fascinating interdisciplinary field, delves into the psychology behind how individuals make choices, respond to incentives, and process information. In the realm of marketing, applying behavioral economics principles can be a game-changing strategy for entrepreneurs seeking to connect with their target audience, drive sales, and foster brand loyalty. By harnessing insights from behavioral economics, entrepreneurs can craft more persuasive and effective marketing campaigns, leveraging the quirks of human psychology to their advantage. In this series of the behavioral economics in marketing podcast, we will explore the exciting intersection of behavioral economics and marketing, unveiling how this innovative approach can transform entrepreneurial ventures into resounding successes.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute.
In this episode, I discuss how companies can leverage social proof to increase conversion rates. Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Verbatim Effect | The verbatim effect is a cognitive bias that causes people to remember the general meaning of information, rather than its exact form, which is the way the information was presented and the minor details that it involved.📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Social proof | Social proof is a psychological and social phenomenon that describes the tendency of human beings to follow the actions of others when making decisions, placing weight on these actions to assume “the correct decision.”
📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Scarcity | Scarcity is a foundational concept in economics and describes the dilemma of how finite resources are allocated, or the perception of limited resources, when there is not enough to fulfill human needs and wants.
📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Geographic clustering | In economics, geographic clustering is defined as a geographic concentration of related companies, organizations or institutions.
📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Principal Agent Problem | The principal–agent problem, is an economic term that describes when one person or entity (the "agent"), is able to make decisions and/or take actions on behalf of, or that impact, another person or entity: the "principal". This dilemma exists in circumstances where agents are motivated to act in their own best interests, which are contrary to those of their principals, and is an example of moral hazard. This moral hazard is often combined with the existence of asymmetric information.
📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Loss Aversion | Loss aversion bias is a cognitive bias that describes the observation that humans experiense loss asymmetrically to a greater degree than acquiring equivalent gains.
📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Cultural capital | Cultural capital is a sociological term used to define the tangible and intangible social assets of a person or organization, such as education, intellect, style of speech, dress, behaviors, etc. that promote social mobility and the ability to influence others in a particular situation based on shared elements of culture. Cultural capital functions as a social relation within an economy of practices and includes specific knowledge and shared experiences that confers social status, power and inclusive.
📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Intention-Action Gap | The Intention-Action Gap is a social psychology and behavioral economics theory that describes the occurrence of when one’s values, attitudes or intentions do not correlate with their actions. It is the failure to convert intentions into action and behavior. In other words, it is the difference between what people say they will do and what people actually do.
📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Mindset | In decision theory, implicit personality theory and general systems theory, a mindset is a complex mental state comprised of a set of assumptions, values, dispositions, methods or notions held that determines how you will interpret and respond to situations.
📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Flow Theory | The concept of "flow" is a mental state in which a person performing some activity is fully immersed and is so involved in the activity that nothing else seems to matter; the experience is so enjoyable that people will continue to do it even at great cost, for the sheer sake of doing it. Flow is characterized by the complete absorption in what the person is doing that they even lose their sense of time.
📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Growth mindset | A growth mindset was first proposed by Stanford professor Carol Dweck in her book Mindset: The New Psychology of Success. The Growth mindset theory is centered around the belief that intelligence and learning can be developed and improved.
📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Decoy effect | The decoy effect is also known as the asymmetrical dominance effect. It is a cognitive bias that describes when people change their preference between two options when a third option is presented.
📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Anchoring is all about first impressions. Using anchoring to inform pricing strategies will help your customers to perceive value of your products and services.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Utility Theory | Utility theory is one of the pillars of modern economics and is an economic hypothesis that postulates that consumers make purchase decisions based on the degree of utility or satisfaction they obtain from a given product or service.
📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Supply | In economics, supply is a fundamental concept that describes the amount of a given product or service that suppliers are willing to offer to consumers at a given price level at a given period. Supply can relate to the amount available at a specific price or the amount available across a range of prices. This relates closely to the demand for a good or service at a specific price; all else being equal, the supply provided by producers will rise if the price rises because all firms look to maximize profits.
📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Confirmation bias is the tendency to process and analyze information in such a way that it supports one’s pre-existing beliefs, ideas and convictions. One of the most important uses of Confirmation Bias in marketing is in customer retention or repeat buyer programs because there are several touchpoints along the customer journey where marketers can leverage Confirmation Bias to increase the customer retention rate and repeat purchase behavior.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Confirmation bias | Confirmation bias is the tendency to process and analyze information in such a way that it supports one’s preexisting beliefs, ideas and convictions.
📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Demand | In economics, demand is a function of the quantity demanded of a commodity and the factors influencing demand such as an item's perceived necessity, price, perceived quality, convenience; available alternatives; purchasers' disposable income and tastes; and many other factors.
📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Elasticity | Elasticity is an important concept in neoclassical economic theory that allows economists to measure the responsiveness or sensitivity of an economic variable in response to a change in another economic variable such as the measure of the change in quantity demanded of an item relative to changes in other factors such as the price.
📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Inoculation theory | As the name suggests, the theory employs medical inoculation as an explanatory analogy as inoculation theory is a model for building resistance to persuasion attempts through pre-exposure to weaker counter arguments. In this way, Inoculation theory is unique. Instead of offering ways to enhance persuasion, inoculation offers resistance to persuasion.
📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Framing effect | In behavioral economics, framing effect refers to the principle that information is not static, but fluid based on how, when and where it is communicated. In other words, people's decisions tend to be affected by the way in which the choices are framed through words, body language, tone, presentation and placement.
📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Clustering | Clustering is a psychological term that is defined as the tendency for items to be consistently grouped together in the course of recall. 📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
In this episode, I discuss the correlation of Dual Process Theory and Status Quo Bias.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Dual process theory | Dual process theory is a psychological term that describes the two different modes or systems of thinking.📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Bounded rationality theory | Bounded rationality theory of economic behavior states that people make judgments based on a limited amount of information and their cognitive capacity. In other words, Bounded rationality is a decision-making mechanism in which we try to satisfy rather than optimize our goals. Instead of seeking the optimal decision, we choose a decision that will suffice. 📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Homo economicus | Homo economicus, or economic man, is a theoretical abstraction that neoclassical economists use to describe a perfectly rational human being.
📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Ceteris Paribus | Ceteris paribus is a Latin phrase that means "all other things being equal or "holding other things constant." In economics, ceteris paribus is a statement about the causal, empirical or logical relationship between two variables, phenomena or states of affair when all other variables, phenomena or states of affair are held constant.
📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Status Quo Bias | Status Quo Bias is a cognitive bias that is based in emotion whereby an individual is presented with the choice of switching from status quo or maintaining status quo weighs the potential losses of switching more heavily than the potential gains of switching.
📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Price discrimination | Price discrimination is a pricing strategy whereby firms charge customers different prices for the same product or service depending on a number of factors such as demographics or on how they value the product or service.📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Anchoring is all about first impressions. Effective branding represents the brand, and what your company can offer, in a new and non-generic way.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Special Announcement | This special announcement is a teaser for Season 6 of the Behavioral Economics in Marketing Podcast!
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Mathematicians, economists and analysts use the term zero-sum game throughout game theory and economic theory to describe a competitive situation wherein the profit of one equals the loss of another and vice-versa, thereby nullifying the net change in wealth for participants involved.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Lessons From the Fire | Lessons From the Fire, Season 5 of the Behavioral Economics in Marketing podcast will be dedicated to those that along with our family lost everything in the Marshall Fire in Boulder, Colorado, as well as to those that have been affected by natural disasters. My hope is that listening to this season of the Behavioral Economics in Marketing podcast will help others in their healing process. But I also believe that this season will be full of marketing wisdom for marketing professionals and business leaders.
Societal norms are shared standards of acceptable behavior by groups. They are the unwritten rules of behavior and beliefs. Social norms are an exciting topic to be talking about and there are so many applications in marketing, professional development, leadership, etc.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Lessons From the Fire | Lessons From the Fire, Season 5 of the Behavioral Economics in Marketing podcast will be dedicated to those that along with our family lost everything in the Marshall Fire in Boulder, Colorado, as well as to those that have been affected by natural disasters. My hope is that listening to this season of the Behavioral Economics in Marketing podcast will help others in their healing process. But I also believe that this season will be full of marketing wisdom for marketing professionals and business leaders.
IKEA effect is a cognitive bias that implies consumers place a disproportionately high value on items that they have played a part in creating.
📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Loss aversion bias is a cognitive bias that describes the observation that humans experience loss asymmetrically to a greater degree than acquiring equivalent gains. In this episode, I discuss loss aversion bias behaviors experienced and witnessed in the wake of a natural disaster including FOMO, the power of free, panic buying and price gouging.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Lessons From the Fire | Lessons From the Fire, Season 5 of the Behavioral Economics in Marketing podcast will be dedicated to those that along with our family lost everything in the Marshall Fire in Boulder, Colorado, as well as to those that have been affected by natural disasters. My hope is that listening to this season of the Behavioral Economics in Marketing podcast will help others in their healing process. But I also believe that this season will be full of marketing wisdom for marketing professionals and business leaders.
Acquisition theory is a motivational model that affirms that we all have three motivating drivers: achievement, power and affiliation. These motivational drivers affect the actions of people regardless of age, sex, race or culture.
📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Backwards induction in game theory is an iterative process of reasoning backward in time, from the end of a problem or situation, to solve finite extensive form and sequential games, and infer a sequence of optimal actions. In this episode, I considered achieving optimal outcomes with backwards induction using examples of when this type of decision making process comes in handy and the basic steps to create a backwards induction model.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Lessons From the Fire | Lessons From the Fire, Season 5 of the Behavioral Economics in Marketing podcast will be dedicated to those that along with our family lost everything in the Marshall Fire in Boulder, Colorado, as well as to those that have been affected by natural disasters. My hope is that listening to this season of the Behavioral Economics in Marketing podcast will help others in their healing process. But I also believe that this season will be full of marketing wisdom for marketing professionals and business leaders.
Hyperbolic Discounting is a time-inconsistent model of delay discounting; or the tendency for people to have a stronger preference from immediate rewards over rewards that come later in the future, even when these immediate rewards are smaller.
📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Corporate philanthropy is the act of a corporation or business promoting the welfare of others, generally through charitable donations of funds, goods or time. Corporate philanthropy after a natural or any type of disaster can have a tremendous impact on your company, your employees and the world around you. In this episode, I discuss the benefits of corporate philanthropy and types of corporate philanthropy programs.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Lessons From the Fire | Lessons From the Fire, Season 5 of the Behavioral Economics in Marketing podcast will be dedicated to those that along with our family lost everything in the Marshall Fire in Boulder, Colorado, as well as to those that have been affected by natural disasters. My hope is that listening to this season of the Behavioral Economics in Marketing podcast will help others in their healing process. But I also believe that this season will be full of marketing wisdom for marketing professionals and business leaders.
Priming Effect is a phenomenon whereby exposure to one stimulus influences how a person responds to a subsequent stimulus, without any awareness of the connection.
📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Maslow's hierarchy of needs is a rudimentary motivational theory by Abraham Maslow in 1943 in his article entitled "A Theory of Human Motivation" originally published in Psychological Review. The psychology theory asserts that humans are motivated by five basic categories of needs: physiological, safety, love, esteem, and self-actualization. In this episode, I discussed you can cultivate self-actualization in your personal and professional development.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Maslow's hierarchy of needs is a rudimentary motivational theory by Abraham Maslow in 1943 in his article entitled "A Theory of Human Motivation" originally published in Psychological Review. The psychology theory asserts that humans are motivated by five basic categories of needs: physiological, safety, love, esteem, and self-actualization. In this episode, I discussed how marketing professionals can leverage the social belonging category in their company branding.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Lessons From the Fire | Lessons From the Fire, Season 5 of the Behavioral Economics in Marketing podcast will be dedicated to those that along with our family lost everything in the Marshall Fire in Boulder, Colorado, as well as to those that have been affected by natural disasters. My hope is that listening to this season of the Behavioral Economics in Marketing podcast will help others in their healing process. But I also believe that this season will be full of marketing wisdom for marketing professionals and business leaders.
Affect Heuristic | The affect heuristic represents a reliance on good or bad feelings experienced in relation to a stimulus. Affect-based evaluations are quick, automatic, and rooted in experiential thought that is activated prior to reflective judgments (Slovic et al., 2002).
📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Maslow's hierarchy of needs is a rudimentary motivational theory by Abraham Maslow in 1943 in his article entitled "A Theory of Human Motivation" originally published in Psychological Review. The psychology theory asserts that humans are motivated by five basic categories of needs: physiological, safety, love, esteem, and self-actualization. In this episode, I went more in depth on Maslow's Hierarchy of Needs by defining each of the categories of needs and motivations, especially how they relate to marketing. And I also discuss some of the criticisms of Maslow's Hierarchy of Needs.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Lessons From the Fire | Lessons From the Fire, Season 5 of the Behavioral Economics in Marketing podcast will be dedicated to those that along with our family lost everything in the Marshall Fire in Boulder, Colorado, as well as to those that have been affected by natural disasters. My hope is that listening to this season of the Behavioral Economics in Marketing podcast will help others in their healing process. But I also believe that this season will be full of marketing wisdom for marketing professionals and business leaders.
Availability Heuristic | Availability is a heuristic whereby people make judgments about the likelihood of an event based on how easily an example, instance or case comes to mind.
📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Maslow's hierarchy of needs is a rudimentary motivational theory by Abraham Maslow in 1943 in his article entitled "A Theory of Human Motivation" originally published in Psychological Review. The theory asserts that humans are motivated by five basic categories of needs: physiological, safety, love, esteem, and self-actualization. In this episode, I define Maslow's hierarchy of needs while giving popular examples in macroeconomics, microeconomics and personal and professional development.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Lessons From the Fire | Lessons From the Fire, Season 5 of the Behavioral Economics in Marketing podcast will be dedicated to those that along with our family lost everything in the Marshall Fire in Boulder, Colorado, as well as to those that have been affected by natural disasters. My hope is that listening to this season of the Behavioral Economics in Marketing podcast will help others in their healing process. But I also believe that this season will be full of marketing wisdom for marketing professionals and business leaders.
The framing effect is about how employees' decisions tend to be affected by the way in which the choices are framed through words, body language, tone, presentation and placement. In this episode, we discussed ways for leaders to apply the framing effect in the successful delegation.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
In this episode of the Behavioral Economics in Marketing podcast, we discuss common delegation pitfalls and hang-ups such as delegating to the wrong employee, over-delegating, micromanaging, envy, time costs and fear of loss of control.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
In this episode, we define and discuss delegation including the direction of delegation, the process of delegation and the principles of delegation such as the principle of result expected, the principle of delegation of authority, the scalar principle and the principle of exception.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Altruism is a form of prosocial behavior. It is the principle and moral practice of concern for others (including human beings and animals). Altruism is generally defined as the belief in or practice of disinterested and selfless concern for the well-being of others. In this episode, I describe how marketing professionals can avoid conflicting and confusing altruistic vs self-seeking benefits in several facets of their marketing and leadership efforts.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Lessons From the Fire | Lessons From the Fire, Season 5 of the Behavioral Economics in Marketing podcast will be dedicated to those that along with our family lost everything in the Marshall Fire in Boulder, Colorado, as well as to those that have been affected by natural disasters. My hope is that listening to this season of the Behavioral Economics in Marketing podcast will help others in their healing process. But I also believe that this season will be full of marketing wisdom for marketing professionals and business leaders.
Choice Overload | Choice Overload is a cognitive impairment that occurs as a result of having too many choices available.
📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Keynesian Economics and Natural Disasters | In this episode, we discuss Keynesian economics in relation to natural disasters. Keynesian economics is all about stimulating aggregate demand through government spending to increase economic growth. In the wake of a natural disaster, government spending and consumer spending is stimulated in a sizeable, systematic and calculable way.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Lessons From the Fire | Lessons From the Fire, Season 5 of the Behavioral Economics in Marketing podcast will be dedicated to those that along with our family lost everything in the Marshall Fire in Boulder, Colorado, as well as to those that have been affected by natural disasters. My hope is that listening to this season of the Behavioral Economics in Marketing podcast will help others in their healing process. But I also believe that this season will be full of marketing wisdom for marketing professionals and business leaders.
Risk vs Reward Ratio | The risk versus reward ratio is a systematic approach to assess the relationship between the cost or risk of an undertaking to the prospective reward.
📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Lessons From the Fire | Through this season, I will be applying lessons that I learned from the Marshall Fire in Boulder Colorado to marketing and business development, as well as professional and personal growth. Additionally, listeners can expect to hear poignant self-revelation, interesting tidbits on human behavior in the wake of a natural disaster and economic truths about everyday occurrences.
Here are just a few of the episodes that listeners can expect to hear about in season 5 of the Behavioral Economics in Marketing podcast, Lessons From the Fire: Achieving optimal outcomes with backwards induction, Keynesian Economics and Natural Disasters, Corporate philanthropy in relation to natural disasters, Altruism vs Self Seeking Behavior in Marketing and Leadership, Zero Sum Games and Insurance, Loss Aversion and the Breakdown of Societal Norms in Response to a Natural Disaster. I will also spend quite a bit of time camping out in Maslow's Hierarchy of Needs as it applies to marketing and personal development.
Lessons From the Fire, Season 5 of the Behavioral Economics in Marketing podcast will be dedicated to those that along with our family lost everything in the Marshall Fire, as well as to those that have been affected by natural disasters. My hope is that listening to this season of the Behavioral Economics in Marketing podcast will help others in their healing process. But I also believe that this season will be full of marketing wisdom for marketing professionals and business leaders.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Boulder Colorado Fires Announcement from host, Sandra Thomas-Comenole
On December 30th, 2021, a wildfire blazed through the residential communities of Boulder Co, including the community that my family and I call home. Around 12 noon on that day, we noticed our neighbor's house two doors down on fire and called 911. They had no idea that there was even a fire in the area. My husband and I quickly got our 4 children and ourselves out of our house, leaving with the clothes on our backs and without shoes on our feet. We made it safely out as we could see the fire make its way into our own backyard. That day over 34,000 people were evacuated from our community as the fire tore its way and destroyed approximately 1000 homes including our own.
For this reason, I will be taking a break from producing new episodes of the Behavioral Economics in Marketing Podcast. But do not worry, I have several episodes written and ready to record. And will do so as soon as we can stabilize our situation. For those wishing to expedite that process, please consider donating to my family's GoFundMe page: https://gofund.me/1639415b
Please feel free to share it as well.
Thank you for your commitment to the Behavioral Economics in Marketing podcast and I look forward to cueing up new episodes as soon as I can.
Donate to help our family recover from the Boulder Colorado Fires https://gofund.me/1639415b
During the last few episodes, we have been hanging out in a series on the customer journey and doing a deep dive into what they are, why they are important and how to optimize customer journeys through behavioral economics. In this episode, we will discuss dual process theory and several ways to apply it to customer journey optimization. Dual process theory is a psychological term that describes the two different modes or systems of thinking. System 1 is the automatic mode of thinking, where System 2 is the calculating mode of thinking. In this episode, we used examples of toothpaste buying, grocery stores and amusement parks to better understand our customers' mode of thinking during purchasing.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 10 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
During the next few episodes, we will go on a deep dive into customer journeys. What they are, why they are important and how to optimize customer journeys through behavioral economics. The customer journey map is a tool that helps marketers to understand the series of connected experiences that customers desire and need — whether that be completing a desired task or traversing the end-to-end journey from prospect to customer to loyal advocate. In this episode, we explored a simple framework for developing a customer journey map including establishing goals, conducting market research and taking inventory of your resources.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 10 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Replay: Priming Effect is such an integral part of marketing that marketing professionals should really take the time to understand how to leverage Priming Effect in their marketing. This episode focuses on leveraging the Priming Effect in customer experience (CX) optimization through branding, engagement and placement.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 10 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
During the next few episodes, we will go on a deep dive into customer journeys. What they are, why they are important and how to optimize customer journeys through behavioral economics. In the last episode, we defined customer journeys. In this episode, we consider the 6 common phases of the customer journey including awareness, evaluation, consideration, purchase, retention and advocacy.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 10 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
During the next few episodes, we will go on a deep dive into customer journeys. What they are, why they are important and how to optimize customer journeys through behavioral economics. For this reason, this episode provides a thorough foundation into what a customer journey is, from a consumer standpoint and a marketing professional standpoint, as well as other definitions that are important to customer journey mapping. Additionally, we offer an excellent case study into how customer journey mapping can improve user experience (UX) and directly impact conversion rates.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 10 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Priming Effect is a phenomenon whereby exposure to one stimulus influences how a person responds to a subsequent stimulus, without any awareness of the connection. Priming Effect is an integral part of marketing and can be leveraged in branding, key value propositions and unique selling points, engagement, user experience (UX), customer journeys, negotiations and company culture. But it should be avoided in market research. This episode gives practical ways for marketing professionals to avoid Priming Effect in market research.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 10 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
The anchoring effect is a cognitive bias that influences you to rely too heavily on the first piece of information you receive, whereby initial exposure to a number or concept serves as a reference point and influences subsequent judgments.
📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 10 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
In this episode we consider ways that marketing professionals can leverage endowment effect on cart abandonment with check out nudges and follow-ups can increase your conversion rate significantly.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 10 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
In this episode, we are considering the Sample Selection Bias. Sample Selection Bias is a systematic error caused by choosing non-random data for statistical and qualitative analysis. The bias exists due to a flaw in the sample selection process, where a subset of the data is excluded due to a particular attribute, sampling technique or even geographic location; resulting in a biased sample, defined as a statistical sample of a population in which all participants are not equally balanced or objectively represented. The exclusion of the subset can influence the statistical significance and produces distorted results.
📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 10 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Welcome to Season 4 of the behavioral economics in marketing podcast. During the last two seasons we camped out in leadership topics, covering intention-action gap on habit change, social axiom theory on growth mindset across culture, overcoming the principal-agent problem and several other great episodes. And though there is so much more ground I could cover on behavioral economics in leadership, there is also a ton of topics related more closely to marketing. For that reason, Season 4 will be a mixed bag covering topics in marketing, leadership and communication.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 10 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
In this episode, we are considering Cognitive dissonance. Cognitive dissonance is the phenomenon of having inconsistent thoughts, beliefs, values or attitudes.
📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 10 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
And a special shout out to this episode's paid sponsor Budgetbakers.com and their personal finance manager, Wallet. Wallet is your personal finance planner that helps you to save money, plan your budget and track your spending. Essentially, you become your own finance manager. It connects with over 58,000 banks worldwide and handles any currency using the same level of security as your own bank. And best of all they do not sell customer data to anyone. The app is available on Android from the Google Playstore and on iOS from the Apple App Store just search from Wallet by BudgetBakers or visit BudgetBakers.com for more information. Listeners of the Behavioral Economics in Marketing podcast get a special deal when they visit http://budgetbakers.com/behavior
🎖 The Intention-Action Gap is a social psychology and behavioral economics term that describes the occurrence of when one’s values, attitudes or intentions do not correlate with their actions. The intention-action gap is often what stands in the way of habit change. In this episode, we discuss simple ways that people can leverage behavioral economics to break an existing habit or start a new routine.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 10 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
And a special shout out to this episode's paid sponsor Budgetbakers.com and their personal finance manager, Wallet. Wallet is your personal finance planner that helps you to save money, plan your budget and track your spending. Essentially, you become your own finance manager. It connects with over 58,000 banks worldwide and handles any currency using the same level of security as your own bank. And best of all they do not sell customer data to anyone. The app is available on Android from the Google Playstore and on iOS from the Apple App Store just search from Wallet by BudgetBakers or visit BudgetBakers.com for more information. Listeners of the Behavioral Economics in Marketing podcast get a special deal when they visit http://budgetbakers.com/behavior
🔨 The IKEA effect is a cognitive bias that implies that individuals place a disproportionately high value on items that they have played a part in creating.
In this episode, we explore how to champion the IKEA Effect to elevate engagement on your team through open communication, involving the team in the process, recognizing extra effort, team building activities, exercising empathy and investing in your team members.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 10 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
And a special shout out to this episode's paid sponsor Budgetbakers.com and their personal finance manager, Wallet. Wallet is your personal finance planner that helps you to save money, plan your budget and track your spending. Essentially, you become your own finance manager. It connects with over 58,000 banks worldwide and handles any currency using the same level of security as your own bank. And best of all they do not sell customer data to anyone. The app is available on Android from the Google Playstore and on iOS from the Apple App Store just search from Wallet by BudgetBakers or visit BudgetBakers.com for more information. Listeners of the Behavioral Economics in Marketing podcast get a special deal when they visit http://budgetbakers.com/behavior
🎯 Herd behavior is all about making a decision based, at least in part, on the behavior and choices of others. In this episode we discussed ways that leaders can avoid herd behavior in the workplace including eradicating time constraints, communication training, consciously creating culture and building diverse and inclusive teams.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 10 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Growth Mindset Theory is centered around the belief that intelligence and learning can be developed and improved. It is an important facet of both marketing and leadership. In this episode, we consider how growth mindset and its effect on achievement varies across cultures through the review of the recently published article, Society-level social axiom moderates the association between growth mindset and achievement across cultures.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 10 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Bernardo ABI, Cai Y, King RB. Society-level social axiom moderates the association between growth mindset and achievement across cultures. Br J Educ Psychol. 2021 Feb 12:e12411. doi: 10.1111/bjep.12411. Epub ahead of print. PMID: 33576017.
In this episode, we are considering the social axiom theory. Social axioms are generalized beliefs about people, groups, social institutions, the physical environment or the spiritual realm as well as about categories of events and phenomena in the social world. These generalized beliefs are encoded in the form of an assertion about the relationship between two entities or concepts.
📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 10 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Inoculation Theory is a social psychology and communication theory that employs medical inoculation as an explanatory analogy as inoculation theory is a model for building resistance to persuasion attempts through pre-exposure to weaker counter-arguments. In this episode, we considered ways to inoculate yourself and your team against a fixed mindset to build a growth mindset.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 10 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
🎯 Game theory is a fascinating and beneficial tool to have in your marketing leadership arsenal. The applications of game theory in marketing and leadership are seemingly endless: negotiation, contracts, pricing, location, ad placement, hiring and team management all can be boiled down to a mathematical model or decision matrix to decide the best possible outcome.
Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 10 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
The Growth Mindset Theory is centered around the belief that intelligence and learning can be developed and improved. It is an important facet of both marketing and leadership. In this episode, we consider ways to facilitate a growth mindset in your team.
The Endowment Effect is the feeling of owning something, where the idea of possession increases its worth regardless of its objective market value.
Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Growth Mindset Theory is centered around the belief that intelligence and learning can be developed and improved. It is an important facet of both marketing and leadership. In this episode, we consider the differences between a growth mindset and a fixed mindset.
The anchoring effect is a cognitive bias that influences you to rely too heavily on the first piece of information you receive, whereby initial exposure to a number or concept serves as a reference point and influences subsequent judgments.
Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
The "Principal-Agent Problem" is an economic term for the competing priorities between a leader and an employee. In the workplace, the "Principal-Agent Problem" looks like employees showing up late, taking long lunches, browsing the internet on the clock, procrastinating and missing deadlines. A few ways that leaders can overcome the "Principal-Agent Problem" is through transparency, motivation, incentives and communication.
In this episode, we are considering "moral hazard". A moral hazard is a situation in which a party has limited responsibility for the risks or is completely protected from risk will in some way act differently than if they didn't have that protection.
Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Flow Theory is a mental state in which a person performing some activity is fully immersed in the task at hand. Leaders who wish to incorporate flow into the workplace should consider these seven conditions with regards to their team and each team member individually. In this episode, we discussed the characteristics and conditions of flow and how to implement it in the workplace.
In this episode, we are considering asymmetric information. The term asymmetric information describes when one party in an economic transaction possesses greater material knowledge than the other party.
Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
The Diamond-Water Paradox presents the human contradiction that although water is necessary to survival and diamonds are frivolous purchases; diamonds command a much higher price in the marketplace than water.
Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
Cultural capital is a sociological term that can be defined as the tangible and intangible social assets and patterns of behaviors of a person or organization and includes specific knowledge and shared experiences that confer social status, power and inclusivity. Cultural capital is considered the new competitive advantage and a root of organizational success. In this episode, we considered strategies for consciously creating cultural capital.
This special announcement is about the Hub and Spoken Travel Show. Listen in for the news!
And check out the Hub and Spoken Travel Show on Spotify!
Behavioral economics is the study of decision-making and can give keen insight into employee behavior. Leaders can tap into Behavioral Economics to create happy and healthy working environments for their direct reports and fellow employees, invest in their team, increase team engagement and motivate their team. In Season 3, we will talk about Cultural Capital, Agency Cost, IKEA Effect and Herd Behavior among others.
As a marketing professional, you are called to be a leader, even if you aren't a leader by title. For that reason, this season will build on the theme of leadership introduced in the previous season. Stay tuned for great episodes such as: Consciously Creating Cultural Capital and Overcoming the Principal Agent Problem!
The framing effect is about how employees' decisions tend to be affected by the way in which the choices are framed through words, body language, tone, presentation and placement. In this episode, we discussed ways for leaders to apply the framing effect in the successful delegation.
In this episode of the Behavioral Economics in Marketing podcast, we discuss common delegation pitfalls and hang-ups such as delegating to the wrong employee, over-delegating, micromanaging, envy, time costs and fear of loss of control.
In this episode, we define and discuss delegation including the direction of delegation, the process of delegation and the principles of delegation such as the principle of result expected, the principle of delegation of authority, the scalar principle and the principle of exception.
The availability heuristic is all about being top of mind. Developing a strong, punchy elevator pitch can help marketing and sales leaders get their point across and have it stick, developing that top of mind recognition.
Conflict is a normal part of everyday life and all of us have experienced friction or disagreements. In this episode, we discuss ways to alleviate conflict before it begins such as through open communication, communication training, building report with your team, maintaining transparency and giving positive feedback.
When conflicts happen in the workplace; they impede progress, lower morale and can even repel talented employees. Therefore, it is important for leaders to resolve and manage them in an effective manner. In this episode, we discussed ways that leaders can address conflict in the workplace including ways to assess the situation, listen and communicate positively.
Mastering the art of managing conflict is a lifelong pursuit. Conflict is a normal part of everyday life and all of us have experienced friction or disagreements. Not surprisingly, conflict can also happen in the workplace. And when conflicts happen at work, they can create discord between co-workers, impede progress, lower morale and can even repel talented employees. In this episode, we discuss categories of conflict and commonly practiced conflict resolution strategies.
Acquisition theory is a motivational model that affirms that we all have three motivating drivers: achievement, power and affiliation. The type of motivation by which each we are driven derives from our life experiences, perceptions and cultural norms. As a leader in your organization, assessing and understanding your team's motivational drivers helps you to create a working environment that not only optimizes your employees productivity but promotes their overall wellness and well-being.
In this episode, we considered ways in which travel companies can leverage pent-up demand through research, collaboration, targeting and using this time to skill-up and onboard new employees.
In this episode, we consider pent-up in the travel industry during COVID-19 in three research studies and their findings from Sandra Thomas-Comenole's recent white paper, "Are we experiencing pent-up demand in the travel industry?"
Pent-up demand is a build-up of demand for goods and services in an economy where consumers are unable or unwilling to make purchases to satisfy the demand at the present time. This generally occurs during times of economic uncertainty – such as a recession. In this episode, we considered pent-up demand in the travel industry during COVID-19.
Cognitive dissonance is the phenomenon of having inconsistent thoughts, beliefs, values or attitudes and can cause psychological stress. People who experience cognitive dissonance can act irrationally to relieve that stress. Leaders can alleviate cognitive dissonance through expectation management and strong communication.
Human capital is a measure of the economic value of an employee's skill set. A company that focuses on increasing their human capital has the best possibility for growth because people are a source of competitive advantage. This episode considers the intrinsic and extrinsic factors that contribute to an employee's human capital, as well as several strategies for increasing human capital through personal and professional development, hiring for human capital and team building activities.
Leadership styles are frameworks and classifications of a leader's characteristic behaviors when directing, motivating, guiding and managing groups of people. Most leaders fall into one of seven categories of leadership styles: servant, democratic, transformational, laissez-faire, facilitative, coaching and visionary. Familiarizing yourself with different types of leadership styles can help make you a better leader.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 10 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Leadership theories are schools of thought that seek to explain how and why certain individuals become leaders. Such theories often emphasize the characteristics of leaders, but some attempt to identify the behaviors that people can adopt to improve their own leadership abilities in different situations. In this episode, we discuss several popular leadership theories and their applications.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 10 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Understanding how we as humans make decisions is an important part of marketing and leadership. Behavioral economics is the study of decision making and can give keen insight into employee behavior. Leaders can tap into Behavioral Economics to better invest in their team, increase team engagement and motivate their team. In short, behavioral economics can be leveraged to create happy and healthy working environments for their direct reports and fellow employees.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 10 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
As a marketing professional, you are called to be leader, even if you aren't a leader by title. For that reason, this season will be dedicated to leadership. Stay tuned for great episodes such as: Motivating Your Team Through Acquisition Theory and Managing Cognitive Dissonance!
Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Consumers use cost/benefit or risk/reward analysis in order to maximize their budget, time and effort. Oftentimes these analyses are performed instantaneously, based on knee-jerk reactions; such as the cost being too high, the credit terms not being great or the basic need (want) for the item. However, good marketers can rebalance the consumer's equation by minimizing the perceived risk or cost and maximizing the reward.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 10 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
The affect heuristic represents a reliance on good or bad feelings experienced in relation to a stimulus and is typically used while judging the risks and benefits of something. The affect heuristic is a hurdle in marketing research that can skew results. To overcome this hurdle, market researchers should make sure that their data collection methods are sound, understand the ways that their subjects' current attitudes can skew results and seek out peers to review their research.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 10 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
The IKEA Effect is all about how personal investment in a process or product creates and increases value. This episode explores how to engage customers with the IKEA Effect through experiential marketing, customer experience optimization, automated and triggered campaigns, offering customizations, encouragement and community building.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 10 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Choice Overload occurs when consumers have too many options to choose from. When this happens, they get overwhelmed and experience decision fatigue. Decision fatigue can lead to a lower conversion rate and unhappy customers. Marketing professionals can mitigate the effects of choice overload by optimizing the user experience with timing, presentation, framing, decision time augmentation, simplification through binary choices and offering default options.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 10 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Even the best marketers can fall prone to doing what they have always done. Set practical KPI's to test the efficacy of each component in your marketing mix and see if you are experiencing the endowment effect in your marketing mix.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 10 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Hyperbolic Discounting is all about immediate gratification. In order to leverage Hyperbolic Discounting, marketing professionals will need to create a sense of urgency by speaking to the customers' pain points, increasing or restricting immediate access, establishing scarcity or throwing in added bonuses such as free gifts or exclusive offers.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 10 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
The Anchoring Effect plays a key role in every negotiation because it is all about first impressions. Therefore the person who makes the first offer sets the anchor. And, whoever sets the anchor helps determine the range of the negotiations. So if you put your offer on the table first, the odds are in your favor that you’ll end the negotiation in a place that you’re comfortable with.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 10 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
Framing effect refers to the principle that information is not static, but fluid based on how, when and where it is communicated. Good marketers can leverage the framing effect by varying their marketing message to different target audiences to increase the level of engagement and, ultimately, the return on investment.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 10 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
In this episode we will define and examine Behavioral Economics and learn about the basics of applying Behavioral Economics to marketing concepts.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 10 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism