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5 big ways behavioural economics is changing traditional marketing

5 big ways behavioural economics is changing traditional marketing | psychology | Scoop.it

To be truly successful in marketing and advertising, we need to understand human motivation and behaviour at a deep level so that we are more able to influence it. Yet the marketing industry has clung to the same frameworks for modelling the ways that people evaluate information and make decisions for decades.

 

That picture is changing quickly as thinking from the worlds of economics and psychology creep into marketing. A discipline called behavioural economics, in particular, is challenging many of our old assumptions and helping us to think about how our customers behave in totally new ways...


Via Jeff Domansky
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Jeff Domansky's curator insight, October 30, 2013 9:54 AM

Valuable post with fresh thinking about traditional marketing bias and how to useuse it to your advantage.Recommended reading.  9/10

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Everything I Needed to Know I Learned in Comic Books

Everything I Needed to Know I Learned in Comic Books | psychology | Scoop.it

My mother never saw value in reading comic books. She called it “a waste of money” and, worse, “a waste of my time.” Unfortunately for her, I was a stubborn kid. When she ‘threatened’ to never pay for my comics again, I got a part time job and paid for them myself. When she refused to get me a ride to the comic book store, I took four different buses a total of twelve miles—including a half-mile walk to the bus stops on either end. When she told me I would never amount to anything because I read them, I got straight As, a Bachelor’s degree in psychology, a masters in business administration, and, oh, a few books published.


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7 Books Every Leader Should Read, According To A Harvard Business School Professor

7 Books Every Leader Should Read, According To A Harvard Business School Professor | psychology | Scoop.it
Max Bazerman, a business psychology professor at Harvard Business School and the author of the best book on general decision making that I’ve ever read, "Judgment in Managerial Decision Making," came out with 7 book recommendations.

Via Ramy Jabbar رامي
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Neuroeconomics: Eyes, Brain, Business

Neuroeconomics: Eyes, Brain, Business | psychology | Scoop.it

At first glance, a neuroscientist and a business school might seem an odd fit. But in fact economists have been paying increasing attention to how the brain works.The field of neuroeconomics has gained ground in the past 10 years, with work exploring the brain processes that underlie decision-making.  And there is neuroleadership, which applies neuroscience to management research. Looser is looking to integrate insights from social psychology, neuroscience, and business. "The big-picture question for me is in how we interact with other people," she says. "It's hard to come up with any business transaction you can do alone.

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Empathetic Marketing How to Satisfy the 6 Core Emotional Needs of Your Customers: Mark Ingwer & Edwin Rutsch

Empathetic Marketing  How to Satisfy the 6 Core Emotional Needs of Your Customers: Mark Ingwer & Edwin Rutsch | psychology | Scoop.it

Mark Ingwer is a business psychologist and the founding partner of Insight Consulting Group, a global marketing and strategy consultancy specializing in consumer and business insights.  He has over 25 years experience applying his unique blend of psychology, marketing, and business acumen to helping companies optimize their brand and marketing strategy based on an in-depth understanding of their customers.


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The business community... 
often it fails to practice empathy in

its marketing and thus falls short

of truly connecting with customers.

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Mark is author of  Empathetic Marketing: How to Satisfy the 6 Core Emotional Needs of Your Customers.  He writes,  "A business that invests in empathy devotes itself to understanding the emotional needs and motivations of its customers, and aligns itself to meet them. Companies have increasingly embraced the role of emotion in selling products and services, but often merely pay lip service to its importance without understanding how to harness it."


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Origami Sofa by Yumi Yoshida unfolds to become a floor mat

Origami Sofa by Yumi Yoshida unfolds to become a floor mat | psychology | Scoop.it

A mat that can be folded into a two-seat sofa by California designer Yumi Yoshida was inspired by the ancient Japanese art of paper-folding.

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David Graeber: On the Invention of Money – Notes on Sex, Adventure, Monomaniacal Sociopathy and the True Function of Economics « naked capitalism

David Graeber: On the Invention of Money – Notes on Sex, Adventure, Monomaniacal Sociopathy and the True Function of Economics « naked capitalism | psychology | Scoop.it

Economists always ask us to ‘imagine’ how things must have worked before the advent of money. What such examples bring home more than anything else is just how limited their imaginations really are. When one is dealing with a world unfamiliar with money and markets, even on those rare occasions when strangers did meet explicitly in order to exchange goods, they are rarely thinking exclusively about the value of the goods. This not only demonstrates that the Homo Oeconomicus which lies at the basis of all the theorems and equations that purports to render economics a science, is not only an almost impossibly boring person—basically, a monomaniacal sociopath who can wander through an orgy thinking only about marginal rates of return—but that what economists are basically doing in telling the myth of barter, is taking a kind of behavior that is only really possible after the invention of money and markets and then projecting it backwards as the purported reason for the invention of money and markets themselves. Logically, this makes about as much sense as saying that the game of chess was invented to allow people to fulfill a pre-existing desire to checkmate their opponent’s king.

 

 


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The future of shopping: When psychology and emotion meet analytics

The future of shopping: When psychology and emotion meet analytics | psychology | Scoop.it

The best part about the retail sector is that it combines three fun areas: Business, technology, and human behavior and psychology. Here's a tour of what may be coming to a store near you.

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20 Essential TED Talks for Future Leaders | Online Universities

20 Essential TED Talks for Future Leaders | Online Universities | psychology | Scoop.it

How does one become a leader? What skills do you need to become a leader in your field? These are skills that are not usually taught in school. Listen to experts on psychology, leadership, business and more in these 20 TedTalks.


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The 5 Models Of Content Curation: Rohit Bhargava - Influential Marketing Blog

The 5 Models Of Content Curation: Rohit Bhargava - Influential Marketing Blog | psychology | Scoop.it

Curation has always been an underrated form of creation. The Getty Center in Los Angeles is one of the most frequently visited museums in America - and started as a private art collection from one man (J. Paul Getty) who had a passion for art.

Aside from a few well known examples like this one, however, the term curation has rarely been used outside of the world of art ... until now.

One of the hottest trends in social media right now is content curation - thanks in no small part to the leading efforts of several thought leaders actively promoting the idea.

Joe Pulizzi is a "content marketing evangelist" who speaks and writes often about content marketing publishes a list of the best content marketing blogs across the web.

Steve Rosenbaum just published a book called Curation Nation looking at the rise of content curation in the business world - and a recent post on the Psychology Today blog even declared that "content curation is the new black."


Via Robin Good
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Grey Drane's comment, April 1, 2011 2:54 PM
Nice overview of the different types of curation!
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Worldview Stanford launches 'The Science of Decision Making'

Worldview Stanford launches 'The Science of Decision Making' | psychology | Scoop.it

Worldview Stanford is an innovative Stanford University initiative that creates learning experiences for professionals to help them get smarter about the issues and dynamics shaping the future.

Worldview Stanford builds on the university's leadership in interdisciplinary inquiry and online learning to tackle complex topics.

By combining flexible, online content with an immersive, Stanford-based experience, decision makers get the frameworks, content, commentary and updates they need to inform their strategic decisions.

Worldview Stanford's inaugural offering, The Science of Decision Making, examines how the latest research in neuroscience, psychology, behavioral economics, business, engineering and other fields enhances our understanding of human decision making.

..

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