Behavioral Science For Brands: Leveraging behavioral science in brand marketing. How Costco uses the sunk cost effect to drive repeat purchase
Mar 12, 2024
The podcast discusses Costco's effective use of loyalty cards and the sunk cost effect in driving consumer behavior. It explores how Costco enhances user engagement through the illusion of progress and delves into the psychology of reciprocity in brand strategies.
Chapters
Transcript
Episode notes
1 2 3 4 5
Introduction
00:00 • 2min
Costco's Unique Shopping Experience
01:34 • 7min
Enhancing User Engagement with Illusion of Progress
08:39 • 2min
Behavioral Science Strategies for Action Completion and Understanding Reciprocity
10:42 • 3min
Utilizing Reciprocity and Loyalty in Brand Strategies
14:10 • 8min