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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.
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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
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