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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
Thursday Jun 30, 2022
Thursday Jun 30, 2022
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
Wednesday Jun 29, 2022
Wednesday Jun 29, 2022
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
Tuesday Jun 28, 2022
Tuesday Jun 28, 2022
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
Thursday Jun 23, 2022
Thursday Jun 23, 2022
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.
Thursday Jun 09, 2022
Thursday Jun 09, 2022
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
Thursday Jun 02, 2022
Thursday Jun 02, 2022
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.
Thursday May 26, 2022
Thursday May 26, 2022
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
Sunday May 22, 2022
Sunday May 22, 2022
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.
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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
Thursday Jan 06, 2022
Thursday Jan 06, 2022
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
Thursday Dec 09, 2021
Thursday Dec 09, 2021
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