The Brainy Business | Understanding the Psychology of Why People Buy | Behavioral Economics cover image

The Brainy Business | Understanding the Psychology of Why People Buy | Behavioral Economics

Latest episodes

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Nov 28, 2024 • 41min

449. Embracing Winter: Mindset Shifts with Dr. Kari Lebowitz

Dr. Kari Leibowitz, a health psychologist with a PhD from Stanford, dives into the power of mindset in embracing winter. She shares insights from her research in the Arctic, revealing how local residents find joy amid darkness. Kari introduces practical strategies to reframe winter as a season of opportunity and resilience. She discusses the therapeutic benefits of hands-on crafts and the importance of rituals. Listeners learn to navigate personal setbacks by viewing them as metaphorical winters, fostering a mindset of growth and positivity.
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Nov 26, 2024 • 23min

448. Embracing Familiarity Bias: The Comfort of the Known

Dive into the intriguing world of familiarity bias, where our brains cling to the known, sometimes at the expense of growth. Discover how this psychological phenomenon influences both personal decisions and business strategies. Learn to identify and overcome this bias to embrace change and innovation. Hear how brands, like Disney, masterfully leverage nostalgia to forge customer loyalty. Practical insights and relatable examples will inspire you to break free from outdated routines while balancing familiarity and progress.
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Nov 21, 2024 • 39min

447. The Hive Mind at Work: Transforming Organizations with Dr. Siobhan McHale

Dr. Siobhan McHale, an organizational psychologist with over 30 years of experience, explores the fascinating intersection of bees and workplace dynamics. She introduces the concept of Group Intelligence (GQ), emphasizing its role alongside IQ and EQ in organizational transformation. Listeners will learn about the nine laws of group dynamics that can lead to meaningful change, and the importance of storytelling as a tool for fostering collaboration. Siobhan shares compelling case studies that illustrate how understanding group behavior can overcome workplace challenges.
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Nov 19, 2024 • 31min

446. The Taste of Success: How Flavor Impacts Buying Behavior

Dive into the intriguing relationship between taste and smell, discovering that 80% of what we perceive as taste actually comes from our sense of smell. Learn about anosmia and how losing this sense impacts flavor perception. Uncover the role of mirror neurons in shaping our experiences and empathy, influencing consumer behavior. It's fascinating how all senses—sight, sound, and touch—interact to create memorable branding and marketing strategies. Explore how to craft a holistic sensory experience that delights customers.
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Nov 14, 2024 • 50min

445. From Insights to Action: Behavioral Science at Lyft with Irrational Labs

Explore how behavioral science is redefining user engagement at Lyft. Discover the innovative Women+ Connect feature aimed at improving matches between female drivers and riders. Learn about the surprising outcomes of messaging strategies tested with Lyft drivers. The discussion reveals the significance of being 'uncomfortably specific' in behavior change and the broader applications of behavioral insights across industries. Gain valuable insights into the intersection of psychology, technology, and consumer behavior.
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Nov 12, 2024 • 31min

444. Bridging the Intention-Action Gap: Behavioral Insights with Dr. Sudy Majd

Join Dr. Sudy Majd, a behavioral scientist with a rich background in e-commerce, as she shares her insights into consumer behavior at Candid. She discusses the intention-action gap, unveiling why customers procrastinate on returning dental kits. Sudy highlights the power of behavioral science techniques like nudging and social proof to enhance marketing strategies. She also emphasizes the balance between qualitative and quantitative research, along with the role of customer feedback in refining business practices. Tune in for valuable lessons on real-world applications of behavioral insights!
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10 snips
Nov 7, 2024 • 52min

443. The Birth of Consumer Choice w/ Jason Voiovich

In a captivating conversation, Jason Voiovich, author and fractional chief marketing officer, dives into the consumer revolution of the 1920s. He shares insights from his journey and how innovations of the era shaped modern consumer behavior. The discussion highlights the impact of mass production and marketing on choice culture, as well as the psychological ties between identity and consumption. Jason emphasizes learning from history to navigate today’s business challenges, making connections that illuminate the evolution of consumer culture.
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12 snips
Nov 5, 2024 • 37min

442. The Power of NUDGES and Choice Architecture (Refreshed Episode)

Discover the intriguing world of choice architecture and nudges, which shape how we make decisions. Learn how small changes in choice presentation can lead to better outcomes, with compelling examples like cafeteria food placement. Dive into the groundbreaking work of Richard Thaler and Cass Sunstein, unraveling the principles that help us understand behavioral economics. This conversation is all about applying these insights to enhance decision-making in everyday life!
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8 snips
Oct 31, 2024 • 52min

441. Cracking Consumer Codes: Hunter Thurman of Alpha-Diver on Pricing Psychology

Hunter Thurman, President of Alpha-Diver, combines behavioral science and neuroscience to decode consumer behavior. He shares insights from the BEV 50 report, revealing that price perceptions often contradict actual costs. Hunter explains how social context and emotional connections can outweigh price, affecting choices for routine brands like Coke compared to explorers like Poppy. He also discusses the paradox of perceived wealth, highlighting how self-image influences spending decisions, particularly in the snack market.
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Oct 29, 2024 • 38min

440. AI Meets Behavioral Economics: Predicting Consumer Behavior w/ Sam Albert of Behaviorally (Refreshed Episode)

Sam Albert, Chief Digital Officer at Behaviorally, combines AI and behavioral economics to predict consumer behavior. He discusses how Flash.AI enhances understanding of customer actions through predictive modeling and image recognition. Sam shares valuable case studies demonstrating its impact on product packaging and placement. He highlights the importance of continually updating AI models to reflect real-world changes, and emphasizes the synergy between machine learning and human insights in improving market strategies.

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