The Psychology Behind Marketing—How It Influences Your Decisions

In today's episode, we delve into the fascinating world of marketing psychology and explore how psychological principles continue to play a pivotal role in influencing consumer behavior, even 70 years after marketing was defined as a hybrid management field combining microeconomics, statistical mathematics, and psychology. Key Topics Covered: * The Decoy Effect: * Discover how offering three asymmetrical options, like popcorn sizes at the cinema, nudges you toward purchasing the more expensive option. * DIY as Added Value (The IKEA Effect): * Learn how companies like IKEA and LEROY MERLIN make you value products more by involving you in their creation, enhancing your sense of ownership and satisfaction. * The Bandwagon Effect: * Understand how the perception that "everyone is doing it" influences you to join in, often leading to increased consumption or adoption of trends. We also discuss other psychological tactics used in marketing to subtly guide your decisions without you even realizing it. Additional Resources: * For a detailed exploration of six psychological principles in marketing , check out this article: [Link to the article] Closing Thoughts: Next time you see a long queue outside a store or are enticed to buy popcorn at the movies, remember—you might be happily falling into a well-planned marketing strategy. Join us as we uncover the psychological tricks marketers use to influence our choices and how being aware of them can empower you as a consumer. #SomosMomentum #LetsTalkAbout 🎙️🧠 This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit carlosgarijo.substack.com