Behavioral Science For Brands: Leveraging behavioral science in brand marketing. Interview: Mark Earls, author of Herd, on how to use behavioral economics in business and beyond
Feb 27, 2024
In this podcast, Mark Earls discusses concepts like loss aversion, false consensus effect, and behavioral science's impact on economics. Topics include authenticity in brand marketing, tax payment behavior, analyzing political slogans using behavioral science, and leveraging behavioral science in marketing strategies.
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Tuk-Tuk Drivers
- Mark Earls shared an anecdote about working with executives in Mumbai.
- He had them spend a day with tuk-tuk drivers to understand their lives and values.
False Consensus Effect
- The false consensus effect explains why marketers must challenge their assumptions.
- They wrongly assume their beliefs are representative of the public.
Like Your Customers
- Marketers need to genuinely like their customers.
- Liking customers leads to better listening and avoids treating them poorly.