The status quo bias can be a formidable obstacle on the path to entrepreneurship, clouding the vision and hindering the pursuit of innovative ideas. However, by challenging preconceived notions, embracing a growth mindset, surrounding oneself with visionaries, and creating a supportive environment for experimentation, aspiring entrepreneurs can avoid the grasp of this cognitive bias. Visualization and setting ambitious goals empower individuals to step out of their comfort zones and embark on a journey of entrepreneurship with confidence and resilience. Breaking free from the status quo, entrepreneurs can forge their own paths, embrace uncertainty, and turn their passions into purposeful ventures that redefine the future of business and innovation.
Season 7 - Behavioral Economics of Entrepreneurship
In the world of entrepreneurship, success often hinges on understanding the intricate workings of human behavior and decision-making. Behavioral economics, a fascinating interdisciplinary field, delves into the psychology behind how individuals make choices, respond to incentives, and process information. In the realm of marketing, applying behavioral economics principles can be a game-changing strategy for entrepreneurs seeking to connect with their target audience, drive sales, and foster brand loyalty. By harnessing insights from behavioral economics, entrepreneurs can craft more persuasive and effective marketing campaigns, leveraging the quirks of human psychology to their advantage. In this series of the behavioral economics in marketing podcast, we will explore the exciting intersection of behavioral economics and marketing, unveiling how this innovative approach can transform entrepreneurial ventures into resounding successes.
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.
