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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.
Episodes
Monday Jan 25, 2021
Monday Jan 25, 2021
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.
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