Ep 68 : Melina Palmer on Unlocking Consumer Decisions with Behavioral Economics, the Brainy Business Way
How does the brain work ? The analogy of Elephant & Rider
\nWhat are nudges, and why the default option works ?
\nHow does partitioning work & how does putting in blocks create a new decision ?
\nWhy marketers should evaluate the hot, cold empathy gap in the way that consumers make decisions?
\nWhy marketers should be thoughtful about a behaviour change challenge ?
\nHow to apply the concept of framing to design messages differently ?
\nHow to apply the concept of anchoring to marketing - pricing, promotions etc ?
\nMelina answers the above questions as she advises marketers & businessmen to be thoughtful .Melina Palmer is founder and CEO of The Brainy Business, which provides behavioral economics consulting to businesses of all sizes from around the world. Her podcast, The Brainy Business, has downloads in over 160 countries. Melina worked in corporate marketing and brand strategy for over a decade before earning her master\u2019s in behavioral economics. She is the author of a book "\u201cWhat Your Customer Wants and Can\u2019t Tell You".
\nVisit Melina's Website at https://thebrainybusiness.com/
\nConnect with Melina on Linkedin https://www.linkedin.com/in/melinapalmer/
\nJagged with Jasravee is facilitated by Jasravee Kaur Chandra, Director- Brand Building, Research & Innovation at Master Sun, Consulting Brand of Adiva L Pvt. Ltd. Jasravee has over 20 years experience as a Strategic Brand Builder,Communications Leader and Entrepreneur.
\nPlease visit Jasravee at https://jasravee.com/
\nConnect with Jasravee on Linkedin at https://www.linkedin.com/in/jasravee/
\nEmail Jasravee at jasravee@theadiva.com
\nThe Podcast Index
\n0:00 Preview & Introduction to Melina
\n3:30 How does the Brain Work - Elephant Rider Analogy
\n7:04 The Concept of Nudges; Why Default Works
\n11:11 The Brain as a Smartphone
\n14:51 The Concept of Partitioning
\n17:23 Hot, Cold Empathy Gap in Decision Making
\n20:27 Marketers Should Be Thoughtful About Behaviour Change
\n23:55 Applying Behaviour Science esp. to Market Research
\n32:43 Concept of Framing & Designing Messages Differently
\n36:25 Concept of Anchoring & Relativity applied to Pricing, Promotions
\n40:32 Brand is a Memory & Story Telling
\n43:30 Rapid Fire - Personally Speaking with Melina
\n48:45 Connecting with Melina
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\n#neuropsychology #whypeoplebuy #consumerscience