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

Melina Palmer
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9 snips
Dec 26, 2024 • 44min

457. Proximity: Redefining Business and Innovation in a Digital Age

Dr. Rob Wolcott, an adjunct professor focused on innovation strategy, and Kaihan Krippendorff, CEO of OutThinker Networks, discuss their book Proximity and its impact on business in a digital age. They explore how technology allows for value creation closer to consumer demand, transforming industries like healthcare and energy. With practical examples from on-demand pharmaceuticals to generative AI, they highlight the future of legacy brands, emphasizing the importance of responsiveness and efficiency in today's rapidly evolving market.
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Dec 24, 2024 • 36min

456. Moonshot Strategies: Business Insights from NASA's Space Race

Explore the powerful business insights extracted from NASA's space missions. Learn how problem identification and innovative solutions were key to their success. Discover the importance of testing and timely action in driving progress. Uncover the value of delegation and support for empowering teams. Understand how visibility can rally public engagement and the impact of thoughtful word choice in leadership. This discussion brings valuable lessons from the past into today's business landscape.
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Dec 19, 2024 • 46min

455. The Influence Equation: Transformational Change with Steve Martin

In a captivating discussion, Steve Martin, an acclaimed author and expert in persuasion, shares his insights on the influence equation, merging evidence, economics, and emotion for transformational change. He elaborates on the power of reciprocity in crafting strong professional relationships and effective strategies for influencing large organizations. Steve emphasizes the importance of context in influence, advocating for authenticity and sustained effort over quick fixes. Listeners gain valuable tools to enhance their influence in business and beyond.
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4 snips
Dec 17, 2024 • 42min

454. Social Proof in Action: Understanding the Herding Instinct

Delve into the intriguing concept of social proof and its powerful influence on decision-making. Learn about the six types of social proof, from celebrity endorsements to user testimonials. Discover how businesses can effectively harness these strategies to build trust and credibility. Explore the psychological mechanisms that drive consumer behavior and the impact of herding instincts. Gain insights into leveraging social media and influencers for greater brand engagement and success.
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Dec 12, 2024 • 51min

453. Elevating Brand Perception: DJ Sprague’s Journey from Limos to Reputation King

DJ Sprague, CMO of Shopper Approved and a reputation management expert, shares his journey from the limousine business to enhancing brand perception. He discusses how exceptional customer service can create memorable experiences that drive loyalty. DJ emphasizes the importance of an integrated marketing strategy, where every department works together to uphold the brand promise. He also highlights the value of leveraging customer reviews for credibility and SEO, while explaining the peak-end rule's impact on customer satisfaction.
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Dec 10, 2024 • 45min

452. Embracing Negative Reviews: Behavioral Economics Insights

Delve into the fascinating world of negative reviews and their unexpected benefits. Explore why we pay more attention to critique than praise, with insights into psychological concepts like herding instincts and cognitive dissonance. Learn effective strategies for responding to feedback that reflect your brand's values while turning criticism into growth opportunities. Discover the ideal star rating for conversions and why public responses to negative feedback matter. Transform negativity into constructive insights for a better brand connection.
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Dec 5, 2024 • 50min

451. Why Everyone Else Is A Hypocrite: Exploring Our Modular Minds w/ Dr. Robert Kurzban

In this discussion, Dr. Robert Kurzban, an expert in evolutionary psychology and author of 'Why Everyone Else Is a Hypocrite,' explores the fascinating modularity of the human brain. He explains how our brains have different compartments influencing various behaviors and beliefs. Topics include strategic ignorance, the power of nonverbal communication, and how subtle context changes can impact decisions. Robert also shares insights from his entrepreneurial venture, Bondzy, which applies behavioral economics to enhance reliability in social interactions.
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Dec 3, 2024 • 44min

450. The "G" in NUDGES: Mastering Feedback for Behavioral Success

Feedback is a powerful tool in guiding decision-making and correcting errors. Real-world examples, like Glidden’s color-changing paint, illustrate how visual cues can enhance experiences. Thoughtful feedback interventions can prevent mistakes in sales and improve customer interactions. The importance of kind follow-ups in business communication is also highlighted, emphasizing the need for considerate outreach to maintain strong relationships. Understanding these strategies can propel both personal and professional success.
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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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