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

In this episode of The Brainy Business podcast, Melina Palmer welcomes Laurier Mandin, author of the insightful book I Need That. Together, they explore the powerful psychology behind perceived need and how it influences consumer behavior. Laurier shares his extensive experience as a product marketer and founder of Graphos Product, revealing what it truly takes for a product to transition from a mere want to a non-negotiable need. Listeners will discover the concept of the "coveted condition," a transformative lens through which businesses can understand their customers' aspirations and identities. Laurier recounts a pivotal moment from his youth involving a solar-powered bike computer that reignited his passion for cycling, illustrating how emotional connections drive the perception of need. Throughout their conversation, Melina and Laurier discuss actionable strategies for product development, the importance of validation, and how to effectively communicate the benefits of a product to tap into the emotional decision-making processes of consumers. This episode is a treasure trove of insights for entrepreneurs, marketers, and anyone looking to create compelling products that resonate with their audience. Don't miss the chance to rethink how you approach your offerings and inspire your customers to say, "I need that!" In this episode: Explore the psychology of perceived need and how it affects consumer behavior. Learn about the concept of the "coveted condition" and its impact on identity and aspiration. Discover actionable strategies for product development and marketing. Understand the significance of validating your product ideas before launch. Gain insights into how emotional connections drive purchasing decisions. Get important links, top recommended books and episodes, and a full transcript at thebrainybusiness.com/535. Looking to explore applications of behavioral economics further?  Learn With Us on our website. Subscribe to Melina’s Newsletter Brainy Bites.  Let’s connect: Send Us a Message Follow Melina on LinkedIn The Brainy Business on Youtube The Brainy Business on Instagram

In this episode of The Brainy Business podcast, Melina Palmer welcomes Dr. Andy Luttrell, a social psychologist specializing in attitudes and persuasion. They explore the fascinating dynamics of how opinions are formed and changed, delving into the psychological underpinnings that influence our beliefs about everything from brands to personal identity. Andy shares insights on the complexity of self-perception and the varying degrees of opinion strength, highlighting how cultural contexts can shape our views. The conversation also addresses the implications of moral conviction in persuasion, examining when moral arguments can either reinforce or challenge existing beliefs. Listeners will learn practical strategies for tailoring communication to resonate with diverse audiences, depending on their perspectives and personality traits. As you listen, consider your own opinions: which feel unshakable, and why? This episode serves as a reminder of the fluidity of our beliefs and the importance of remaining open to new perspectives. In this episode: Discover the psychological mechanisms behind opinion formation and change. Learn about the role of cultural context in shaping self-perception and attitudes. Explore the impact of moral conviction on persuasion strategies. Understand how to tailor messaging based on audience personality traits. Gain insights into fostering strong brand loyalty through identity connection. Get important links, top recommended books and episodes, and a full transcript at thebrainybusiness.com/534. Looking to explore applications of behavioral economics further?  Learn With Us on our website. Subscribe to Melina’s Newsletter Brainy Bites.  Let’s connect: Send Us a Message Follow Melina on LinkedIn The Brainy Business on Youtube The Brainy Business on Instagram

In this episode of The Brainy Business podcast, Melina Palmer welcomes Louis Grenier, creator of the Everyone Hates Marketers podcast and author of the bold book, Stand the F Out. Together, they explore the essential strategies for creating a brand that truly stands out in a crowded marketplace, even on a tight budget. Louis shares his insights on how to be brave in branding and the importance of embracing a unique positioning that resonates with your audience. The conversation dives into the concept of "insight foraging," where Louis emphasizes the value of understanding your customers through real conversations rather than relying on potentially misleading data. He discusses the pitfalls of traditional marketing tactics, like arbitrary niching down, and instead encourages listeners to find common struggles among their target audience to create meaningful connections. Louis also introduces the idea of using a "Trojan horse" approach in marketing, allowing brands to enter the minds of consumers by addressing what they think they need before delivering what they truly require. In this episode: Discover how to embrace your brand's spice and be bold in your messaging. Learn the importance of insight foraging and how to gather meaningful customer insights. Understand why traditional niching down can be counterproductive and how to find your unique positioning. Explore the concept of the Trojan horse in marketing and how to effectively communicate your brand's value. Gain insights into the role of alter egos in overcoming fear and embracing your brand's true identity. Get important links, top recommended books and episodes, and a full transcript at thebrainybusiness.com/533. Looking to explore applications of behavioral economics further?  Learn With Us on our website. Subscribe to Melina’s Newsletter Brainy Bites.  Let’s connect: Send Us a Message Follow Melina on LinkedIn The Brainy Business on Youtube The Brainy Business on Instagram

In this episode of The Brainy Business podcast, Melina Palmer revisits the concept of bikeshedding, a phenomenon that leads us to obsess over trivial details while neglecting the more significant issues that drive progress. Originally discussed in episode 99, Melina brings this foundational topic back into focus as we navigate the complexities of decision-making in a rapidly changing environment. Bikeshedding, a term coined by Cyril Northcote Parkinson, highlights our tendency to spend excessive time on inconsequential tasks—like perfecting a logo color—at the expense of critical decisions that can impact our success. Melina explains how this behavior can hinder our productivity and offers practical strategies to overcome it. She discusses the relationship between bikeshedding and Parkinson's Law of Triviality, emphasizing the importance of prioritizing meaningful work over distractions. In this episode: Understand the concept of bike shedding and how it manifests in everyday decision-making. Learn about Parkinson's Law of Triviality and its implications for productivity. Discover practical questions to ask yourself to break free from bikeshedding and focus on what truly matters. Explore the significance of setting clear goals to combat procrastination and maintain momentum. Gain insights into how to balance feedback from others while staying true to your own objectives. Get important links, top recommended books and episodes, and a full transcript at thebrainybusiness.com/532. Looking to explore applications of behavioral economics further?  Learn With Us on our website. Subscribe to Melina’s Newsletter Brainy Bites.  Let’s connect: Send Us a Message Follow Melina on LinkedIn The Brainy Business on Youtube The Brainy Business on Instagram

In this episode of The Brainy Business podcast, Melina Palmer engages in a thought-provoking conversation with Sebastian Page, author of The Psychology of Leadership. They explore the fascinating intersection of sports psychology and leadership, discussing how the lessons learned from athletes can transform the way we approach challenges in the business world. Sebastian shares his journey from a high-stress career in money management to a deep exploration of psychology, emphasizing that effective leadership is not just about winning but about learning from losses. He highlights the importance of resilience, the impact of stress on performance, and how a long-term mindset can guide decision-making. Throughout the episode, Melina and Sebastian delve into the concept of goal-induced blindness, illustrating how an excessive focus on outcomes can hinder our ability to see the bigger picture. In this episode: Discover how sports psychology can inform and enhance leadership practices. Learn about the significance of embracing losses as opportunities for growth. Understand the concept of goal-induced blindness and its implications for high performers. Explore the optimal levels of stress for different tasks and how to manage them effectively. Gain insights into the importance of self-care and well-being for effective leadership. Get important links, top recommended books and episodes, and a full transcript at thebrainybusiness.com/531. Looking to explore applications of behavioral economics further?  Learn With Us on our website. Subscribe to Melina’s Newsletter Brainy Bites.  Let’s connect: Send Us a Message Follow Melina on LinkedIn The Brainy Business on Youtube The Brainy Business on Instagram

In this episode of The Brainy Business podcast, Melina Palmer welcomes back Dr. Tessa Misiaszek, co-author of the insightful book, Branding That Means Business. This refreshed conversation dives deep into the importance of aligning internal culture with external brand promises, exploring how values can shape a brand's identity and influence consumer trust. Tessa shares her expertise on how organizations can authentically live their values and create a meaningful brand experience. She discusses the critical role of empathy in understanding consumer needs and how this understanding can lead to effective marketing strategies. Throughout the episode, Melina and Tessa examine the evolving landscape of branding, especially in a world where consumers demand transparency and authenticity from the brands they support. In this episode: Understand the significance of aligning internal culture with external branding. Learn how empathy can enhance marketing strategies and brand authenticity. Explore the process of defining and operationalizing brand values. Discover how to adapt brand strategies to meet the changing expectations of consumers. Gain insights into the importance of transparency in building consumer trust. Get important links, top recommended books and episodes, and a full transcript at thebrainybusiness.com/530. Looking to explore applications of behavioral economics further?  Learn With Us on our website. Subscribe to Melina’s Newsletter Brainy Bites.  Let’s connect: Send Us a Message Follow Melina on LinkedIn The Brainy Business on Youtube The Brainy Business on Instagram

In this episode of The Brainy Business podcast, Melina Palmer shares the exciting launch of the brand new YouTube channel, @BrainyMelina, and the journey that led to this moment. After years of planning and preparation, Melina discusses the importance of timing and readiness in expanding The Brainy Business brand into video content while maintaining the integrity of the existing podcast. Listeners will hear about the challenges and insights gained during the process of creating a new channel that reflects Melina's passion for human behavior and behavioral science. From researching YouTube trends to understanding the nuances of content creation, Melina emphasizes the significance of aligning expectations with audience perceptions. She also highlights the importance of creating unique content tailored for video, rather than simply repurposing existing podcast material. This episode provides a behind-the-scenes look at the launch, including the first video on the curious case of Crystal Pepsi, and gives listeners a taste of the new format with engaging shorts and deeper dives into behavioral economics. In this episode: Celebrate the launch of the new YouTube channel, @BrainyMelina. Understand the importance of timing and readiness in business expansions. Explore the challenges of adapting content for different platforms. Learn about the psychological impact of setting clear expectations for products. Discover the exciting content planned for the new channel, including behavioral breakdowns and shorts. Get important links, top recommended books and episodes, and a full transcript at thebrainybusiness.com/529. Looking to explore applications of behavioral economics further?  Learn With Us on our website. Subscribe to Melina’s Newsletter Brainy Bites.  Let’s connect: Send Us a Message Follow Melina on LinkedIn The Brainy Business on Youtube The Brainy Business on Instagram

In this episode of The Brainy Business podcast, Melina Palmer explores the fascinating psychology behind nostalgia and traditions, uncovering why our brains are wired to cherish these experiences. This episode revisits the powerful emotional connections that nostalgia can create, influencing decision-making, brand loyalty, and innovation. Melina delves into the origins of nostalgia, revealing its roots in human experience and the benefits it brings, such as increased self-esteem and social belonging. She discusses how nostalgia can be harnessed in marketing strategies to foster deeper emotional connections with customers, especially during significant life transitions. Listeners will learn how to evaluate their own traditions and consider whether they serve their business goals or need a refresh. The episode also highlights the importance of sensory experiences in triggering nostalgia and how brands can effectively integrate these elements into their marketing efforts. Melina shares anecdotes and insights into how traditions shape our lives and influence our purchasing behaviors, encouraging listeners to reflect on their own experiences and the traditions that matter most to them. In this episode: Understand the psychological significance of nostalgia and how it impacts decision-making. Explore the origins of nostalgia and its benefits for emotional well-being. Learn how to leverage nostalgia in your marketing strategies to enhance customer connections. Discover the role of sensory experiences in triggering nostalgic memories. Reflect on your own traditions and evaluate their relevance in your business today. Get important links, top recommended books and episodes, and a full transcript at thebrainybusiness.com/528. Looking to explore applications of behavioral economics further?  Learn With Us on our website. Subscribe to Melina’s Newsletter Brainy Bites.  Let’s connect: Send Us a Message Follow Melina on LinkedIn The Brainy Business on Youtube The Brainy Business on Instagram

In this episode of The Brainy Business podcast, Melina Palmer welcomes Emily Kasriel, author of the insightful book, Deep Listening. Together, they explore the transformative power of deep listening in fostering better communication, stronger relationships, and effective leadership in both personal and professional settings. Emily, an award-winning journalist and executive coach, shares her journey in developing the Deep Listening Project, emphasizing the importance of truly hearing others in a world filled with noise. Through engaging discussions and a live demonstration, Melina and Emily delve into the eight essential steps of deep listening, illustrating how this practice can create meaningful connections, even across lines of disagreement. As you listen, reflect on your own experiences with listening and consider how you can incorporate these practices into your daily interactions. This episode is packed with actionable insights that can lead to profound changes in how you relate to others. In this episode: Discover the significance of deep listening and its impact on human connection. Learn the eight steps of deep listening and how to apply them in your conversations. Understand the role of silence and presence in effective communication. Explore how deep listening can enhance leadership and team dynamics. Gain insights into the importance of curiosity and empathy in building relationships Get important links, top recommended books and episodes, and a full transcript at thebrainybusiness.com/527. Looking to explore applications of behavioral economics further?  Learn With Us on our website. Subscribe to Melina’s Newsletter Brainy Bites.  Let’s connect: Send Us a Message Follow Melina on LinkedIn The Brainy Business on Youtube The Brainy Business on Instagram

In this episode of The Brainy Business podcast, Melina Palmer welcomes Nick Epley, a professor of behavioral science at the University of Chicago's Booth School of Business. Together, they explore the profound impact of everyday interactions and the often-overlooked value of connecting with others, even in brief exchanges. As loneliness reaches epidemic levels, Nick shares his insights on how simple gestures like saying hello or offering a compliment can significantly enhance our well-being and foster a sense of belonging. He discusses the psychological barriers that prevent us from engaging with others, revealing how our assumptions about social interactions often lead us to underestimate their positive effects. Throughout the episode, Melina and Nick discuss practical strategies for initiating conversations with strangers and deepening connections with those around us. By shifting our mindset and embracing the potential for meaningful interactions, we can enrich our lives and the lives of others. In this episode: Understand the psychological barriers that prevent meaningful social interactions. Discover the benefits of reaching out to strangers and initiating conversations. Learn how simple acts of kindness can enhance well-being and foster connection. Explore practical tips for engaging in deeper conversations and building relationships. Reflect on the importance of social connection in both personal and professional settings. Get important links, top recommended books and episodes, and a full transcript at thebrainybusiness.com/526. Looking to explore applications of behavioral economics further?  Learn With Us on our website. Subscribe to Melina’s Newsletter Brainy Bites.  Let’s connect: Send Us a Message Follow Melina on LinkedIn The Brainy Business on Youtube The Brainy Business on Instagram

In this exciting crossover episode of The Brainy Business podcast, Melina Palmer teams up with Katy Milkman, host of the acclaimed Choiceology podcast from Charles Schwab. Together, they delve into the intriguing concept of left digit bias, a psychological phenomenon that influences how we perceive prices and make decisions. As Melina shares her experience as a guest on Choiceology, listeners will learn about the powerful implications of left digit bias, from its impact on pricing strategies—like why $4.99 feels significantly cheaper than $5—to its effects in various domains, including healthcare and consumer behavior. The episode features compelling stories, including the history of iTunes' pricing strategy and how subtle shifts in numbers can lead to significant outcomes in both personal and professional contexts. Throughout the episode, Melina and the guests discuss real-world applications of left digit bias, illustrating how it can affect everything from diamond purchases to medical decisions. Listeners will gain insights into how this bias shapes our choices and how being aware of it can lead to better decision-making. In this episode: Understand the concept of left digit bias and its influence on pricing perception. Explore the historical context of iTunes' pricing strategy and its revolutionary impact on the music industry. Learn how left digit bias affects medical decisions and the implications for patient care. Discover practical tips for navigating significant purchases by leveraging left digit bias. Gain insights into how awareness of this bias can improve decision-making in various aspects of life. Get important links, top recommended books and episodes, and a full transcript at thebrainybusiness.com/525. Looking to explore applications of behavioral economics further?  Learn With Us on our website. Subscribe to Melina’s Newsletter Brainy Bites.  Let’s connect: Send Us a Message Follow Melina on LinkedIn The Brainy Business on Youtube The Brainy Business on Instagram

In this episode of The Brainy Business podcast, Melina Palmer revisits the powerful concept of relativity, a cornerstone of behavioral economics that shapes how we perceive value through comparisons rather than absolutes. Originally aired in 2018, this foundational episode is refreshed to highlight its relevance today, especially in light of an upcoming crossover episode on left digit bias. Melina explains how our brains struggle to assign value to unique items without comparisons, using engaging examples from everyday life, pricing strategies, and consumer behavior. From the psychology behind why we may drive across town to save a few dollars on gas but hesitate to do the same for a more expensive dress, to the surprising emotional responses of Olympic medalists, this episode uncovers the nuances of how relativity influences our decisions. Listeners will learn how to leverage relativity in their businesses, including effective pricing strategies that incorporate decoys and anchoring techniques to enhance perceived value. Melina shares practical tips for creating compelling offers, whether in retail, service industries, or even fitness, and emphasizes how guiding comparisons can significantly impact consumer choices. In this episode: Understand the concept of relativity and its role in determining value. Explore how comparisons influence purchasing decisions in various contexts. Learn practical applications of relativity in pricing strategies for businesses. Discover the emotional impact of relativity on consumer behavior, such as in Olympic medalists. Gain insights into using decoys and anchoring to enhance perceived value in your offerings. Get important links, top recommended books and episodes, and a full transcript at thebrainybusiness.com/524. Looking to explore applications of behavioral economics further?  Learn With Us on our website. Subscribe to Melina’s Newsletter Brainy Bites.  Let’s connect: Send Us a Message Follow Melina on LinkedIn The Brainy Business on Youtube The Brainy Business on Instagram

In this episode of The Brainy Business podcast, Melina Palmer shares her inspiring TEDx talk titled There's Nothing Magical about Monday. This episode dives deep into the psychological barriers that lead to procrastination and how understanding our brain's tricks can empower us to take action on the things that matter most. Melina reflects on her journey as an entrepreneur and the power of intentional focus, emphasizing the importance of saying "not yet" to distractions in order to prioritize what truly counts. Listeners will gain insights into the cognitive biases that hold us back, including time discounting, optimism bias, and planning fallacy, and learn practical steps for overcoming these challenges. Melina outlines a clear framework for breaking down goals into manageable tasks, identifying distractions, and leveraging accountability to achieve success. This episode is not just about productivity; it’s a call to action to embrace the power of micro moments and make meaningful progress in your personal and professional life. In this episode: Discover the psychological reasons behind procrastination and how to combat them. Learn about the four cognitive biases that can derail your productivity. Explore actionable steps to break down your goals into achievable tasks. Understand the importance of accountability and how to find an accountability buddy. Get inspired to take action and make meaningful changes in your life. Get important links, top recommended books and episodes, and a full transcript at thebrainybusiness.com/523. Looking to explore applications of behavioral economics further?  Learn With Us on our website. Subscribe to Melina’s Newsletter Brainy Bites.  Let’s connect: Send Us a Message Follow Melina on LinkedIn The Brainy Business on Youtube The Brainy Business on Instagram

In this episode of The Brainy Business podcast, Melina Palmer shares her top tips for launching and growing a successful podcast, reflecting on her own journey since starting the show in 2018. With over 500 episodes, a global audience, and multiple books published, Melina dives into the intricacies of podcasting, offering insights from a behavioral economics perspective. Listeners will discover the importance of strategy, consistency, and intentionality in podcasting, along with practical advice for content planning, branding, and audience engagement. Melina emphasizes the long-term commitment required to build a successful podcast and shares the challenges and rewards that come with it. She also touches on the concept of "pod fade" and the significance of setting realistic goals for your podcasting journey. In this episode: Understand the foundational elements needed to launch a podcast effectively. Learn about the time and resources required to create high-quality content. Explore the importance of knowing your audience and setting clear goals for your podcast. Discover strategies for standing out in a crowded podcasting landscape. Gain insights into the benefits of consistency and audience engagement in building trust and loyalty. Get important links, top recommended books and episodes, and a full transcript at thebrainybusiness.com/522. Looking to explore applications of behavioral economics further?  Learn With Us on our website. Subscribe to Melina’s Newsletter Brainy Bites.  Let’s connect: Send Us a Message Follow Melina on LinkedIn The Brainy Business on Youtube The Brainy Business on Instagram

In this episode of The Brainy Business podcast, Melina Palmer sits down with Diane Osgood, an environmental economist and author of Your Shopping Superpower, to explore the intersection of sustainability and consumer behavior. Their conversation dives into the power of values-based shopping and how individual choices can create significant impact in the world. Diane shares her insights on how even small shifts in consumer behavior—like choosing one product a week—can lead to transformative changes across industries. She discusses the importance of aligning shopping habits with personal values, and why striving for progress over perfection is crucial in making ethical purchasing decisions. With compelling anecdotes from her experiences, Diane illustrates how consumer demand drives the supply chain and the critical role shoppers play in advocating for sustainability. In this episode: Discover the concept of "buycotting" and how it differs from traditional boycotting. Learn about the four categories to consider when shopping by your values: people, planet, community, and health. Explore practical strategies for making impactful changes in your purchasing decisions. Understand the importance of transparency from companies and how it can foster consumer trust. Gain insights into how small consumer actions can lead to significant industry-wide shifts. Get important links, top recommended books and episodes, and a full transcript at thebrainybusiness.com/521. Looking to explore applications of behavioral economics further?  Learn With Us on our website. Subscribe to Melina’s Newsletter Brainy Bites.  Let’s connect: Send Us a Message Follow Melina on LinkedIn The Brainy Business on Youtube The Brainy Business on Instagram

In this episode of The Brainy Business podcast, Melina Palmer welcomes Amy Bucher, author of Engaged: Designing for Behavior Change. Together, they explore the intersection of behavioral science and design thinking, discussing how to create solutions that truly resonate with people's needs and behaviors. This refreshed episode, originally aired in August 2021, delves into the importance of understanding the real problems faced by consumers rather than relying on assumptions. Amy shares her extensive experience in healthcare and wellness, highlighting how applying behavioral science can lead to meaningful behavior change. She emphasizes the significance of thorough research and empathy in the design process, illustrating how small shifts in understanding can lead to innovative solutions that effectively address real-world challenges. In this episode: Discover the critical role of behavioral design in creating effective solutions. Learn how to conduct thorough research to understand the true needs of your audience. Explore practical frameworks for designing interventions that promote behavior change. Understand the importance of empathy and respect for the end users in the design process. Gain insights into real-world examples of successful behavior change projects. Get important links, top recommended books and episodes, and a full transcript at thebrainybusiness.com/520. Looking to explore applications of behavioral economics further?  Learn With Us on our website. Subscribe to Melina’s Newsletter Brainy Bites.  Let’s connect: Send Us a Message Follow Melina on LinkedIn The Brainy Business on Youtube The Brainy Business on Instagram

In this episode of The Brainy Business podcast, Melina Palmer sits down with Vicki Tan, author of the innovative book, Ask this Book a Question. Vicki, a digital product designer with a rich background in behavioral science, shares her unique approach to decision-making through an interactive journey that encourages readers to ask meaningful questions about their lives.   Melina and Vicki dive into the art of questioning, discussing how the right inquiries can unlock insights and foster personal growth. Vicki explains the interactive nature of her book, which guides readers through visual prompts and stories, helping them to explore their thoughts and feelings in a structured yet playful way. The conversation also touches on the importance of understanding biases and how they influence our decisions, making behavioral science accessible to everyone. In this episode: Discover how to frame your questions to gain clarity and insight into personal dilemmas. Learn about the interactive elements of Vicki's book and how they facilitate self-discovery. Explore the connection between design, behavioral science, and decision-making. Understand the significance of biases in our thinking and how to work with them rather than against them. Gain inspiration to approach your life’s questions with curiosity and creativity. Get important links, top recommended books and episodes, and a full transcript at thebrainybusiness.com/519. Looking to explore applications of behavioral economics further?  Learn With Us on our website. Subscribe to Melina’s Newsletter Brainy Bites.  Let’s connect: Send Us a Message Follow Melina on LinkedIn The Brainy Business on Youtube The Brainy Business on Instagram

In this episode of The Brainy Business podcast, Melina explores the fascinating concept of the Endowment Effect, exploring why we tend to overvalue the things we own. From cherished coffee mugs to long-held ideas, this cognitive bias reveals how ownership can skew our perception of value. As Melina revisits her original deep dive from February 2021, she underscores the implications of the Endowment Effect on decision-making in both personal and professional contexts. Listeners will learn how even subtle shifts in language can trigger the Endowment Effect, making items feel more precious simply because they belong to us. Melina shares practical examples, including how businesses can leverage this bias to enhance customer loyalty and engagement. With insights drawn from psychological studies and real-life scenarios, she emphasizes the importance of understanding this effect to improve marketing strategies and customer experiences. In this episode: Discover the Endowment Effect and how it influences our perceptions of value. Learn how language can trigger feelings of ownership and attachment. Explore the connection between the Endowment Effect and loss aversion. Understand how to apply the Endowment Effect in business to enhance customer loyalty. Gain insights into how early ownership can reinforce long-term brand loyalty. Get important links, top recommended books and episodes, and a full transcript at thebrainybusiness.com/518. Looking to explore applications of behavioral economics further?  Learn With Us on our website. Subscribe to Melina’s Newsletter Brainy Bites.  Let’s connect: Send Us a Message Follow Melina on LinkedIn The Brainy Business on Youtube The Brainy Business on Instagram

In this episode of The Brainy Business podcast, Melina Palmer is joined by Devora Rogers, Chief Strategy Officer at Alter Agents, to discuss the evolving landscape of consumer insights and the importance of asking the right questions in marketing. Devora shares her extensive experience working with major brands like Netflix, Pepsi, and TikTok, and her insights into the revolutionary approach of agile neuroscience testing that captures subconscious consumer reactions in real time. The conversation delves into how brands can better understand their audiences by exploring the nuances of competition, the significance of segmentation, and the impact of qualitative research. Devora emphasizes the importance of framing questions correctly and understanding the broader context of consumer behavior beyond traditional metrics. She also highlights the need for marketers to be curious, empathetic, and strategic in their approach to research. In this episode: Discover the critical role of asking the right questions in consumer insights and marketing. Learn how agile neuroscience testing can reveal subconscious consumer reactions. Explore the importance of segmentation and understanding competition beyond surface-level data. Gain insights into effective qualitative research methods and their impact on decision-making. Understand how to position your brand by tapping into deeper consumer motivations and emotions. Get important links, top recommended books and episodes, and a full transcript at thebrainybusiness.com/517. Looking to explore applications of behavioral economics further? Learn With Us on our website. Subscribe to Melina’s Newsletter Brainy Bites. Let’s connect: Send Us a Message Follow Melina on LinkedIn The Brainy Business on Youtube The Brainy Business on Instagram

In this episode of The Brainy Business podcast, Melina Palmer revisits her insightful behavioral economics analysis of Amazon, originally aired in July 2021. She explores how Amazon transformed the shopping experience by understanding consumer behavior and leveraging key psychological principles. From the impact of reduced shipping times to the ingenious use of social proof, Melina breaks down the strategies that have made Amazon a retail giant. Listeners will discover how Amazon's approach to problem-solving and project management, including the Press Release method, has contributed to their success. Melina discusses the importance of understanding the real problems consumers face and how Amazon's frictionless purchasing process, including one-click buying and easy returns, enhances customer satisfaction and loyalty. Additionally, Melina highlights the effectiveness of Amazon's Prime membership and the psychological tactics behind events like Prime Day, showcasing how urgency and scarcity drive consumer behavior. This episode serves as a valuable case study for businesses looking to implement behavioral economics principles to improve their customer experience. In this episode: Learn how Amazon uses behavioral insights to enhance the shopping experience. Discover the significance of understanding the real problems consumers face. Explore the impact of social proof and herding on purchasing decisions. Understand the benefits of easy returns and one-click purchasing. Gain insights into the psychological strategies behind Prime membership and scarcity tactics. Get important links, top recommended books and episodes, and a full transcript at thebrainybusiness.com/516. Looking to explore applications of behavioral economics further?  Learn With Us on our website. Subscribe to Melina’s Newsletter Brainy Bites.  Let’s connect: Send Us a Message Follow Melina on LinkedIn The Brainy Business on Youtube The Brainy Business on Instagram