The Behavioral Economics in Marketing's Podcast

Alleviating Conflict Before it Starts

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.

Managing Conflict in the Workplace

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

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. 

Motivating Your Team Through Acquisition Theory

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. 

Leveraging Pent-up Demand for Business Growth

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.

Pent-up Demand Research Brief | White Paper: Are we experiencing pent-up demand in the travel industry?

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?" 

What is pent-up demand

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.

Managing Cognitive Dissonance

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.

Increasing Human Capital for Business Growth

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.

7 Most Commonly Effective Leadership Styles

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