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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 Mar 28, 2024
Thursday Mar 28, 2024
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
Tuesday Mar 26, 2024
Tuesday Mar 26, 2024
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
Monday Mar 25, 2024
Monday Mar 25, 2024
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
Thursday Mar 21, 2024
Thursday Mar 21, 2024
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
Tuesday Mar 19, 2024
Tuesday Mar 19, 2024
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
Monday Mar 18, 2024
Thursday Mar 14, 2024
Thursday Mar 14, 2024
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
Tuesday Mar 12, 2024
Tuesday Mar 12, 2024
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
Monday Mar 11, 2024
Monday Mar 11, 2024
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
Thursday Mar 07, 2024
Thursday Mar 07, 2024
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