The status quo bias can be a formidable obstacle on the path to entrepreneurship, clouding the vision and hindering the pursuit of innovative ideas. However, by challenging preconceived notions, embracing a growth mindset, surrounding oneself with visionaries, and creating a supportive environment for experimentation, aspiring entrepreneurs can avoid the grasp of this cognitive bias. Visualization and setting ambitious goals empower individuals to step out of their comfort zones and embark on a journey of entrepreneurship with confidence and resilience. Breaking free from the status quo, entrepreneurs can forge their own paths, embrace uncertainty, and turn their passions into purposeful ventures that redefine the future of business and innovation.

Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.

Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. 

The journey of entrepreneurship is a rewarding adventure filled with learning and growth. By leveraging the right resources, you can enhance your chances of success and overcome obstacles with confidence. Whether you're seeking knowledge, funding, mentorship, or guidance, the resources outlined in this episode can serve as a compass on your entrepreneurial path. Empower yourself with these essential tools and resources, and embark on a transformative journey to build a thriving and successful business that leaves a lasting impact.

Season 7 - Behavioral Economics of Entrepreneurship

Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.

Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. 

By integrating behavioral economics principles into your referral marketing strategy, you can elevate your business's growth and harness the power of human behavior. Leveraging social proof, reciprocity, nudging, scarcity, personalization, and gamification will make your referral program irresistible to customers. Remember, building strong relationships with your customers and providing exceptional value are the keys to fostering a culture of referral, creating a cycle of continuous growth for your business. So, take action now, and let the magic of behavioral economics propel your referral business to new heights!

Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.

Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. 

A business plan is a comprehensive written document that outlines the goals, strategies, operations, financial projections, and other important aspects of a business. It serves as a roadmap for the organization, providing a clear and structured outline of how the business will be conceived, developed, and operated. Business plans are typically used for various purposes, including securing financing, guiding company operations, and communicating the company's vision to stakeholders. 

📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature. 

Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.

Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism

Leveraging scarcity is a proven technique to close sales and increase customer engagement. By creating a sense of urgency and exclusivity, you tap into customers' fear of missing out and drive them to take immediate action. However, it's essential to use scarcity ethically and honestly, ensuring that the limited availability is genuine and aligns with the value you provide. When applied strategically, scarcity can be a powerful tool to boost conversions, create brand loyalty, and drive long-term business success.

Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.

Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. 

Intellectual property (IP) refers to a category of legally recognized and protected assets that are the result of creative or intellectual effort. 

These assets are intangible in nature and can include a wide range of creations and innovations produced by individuals, businesses, or organizations. Intellectual property rights provide legal protection and ownership of these intangible assets, allowing creators and inventors to control and benefit from their work.

📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature. 

Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.

Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism

The availability heuristic is all about being top of mind. Developing a strong, punchy elevator pitch can help marketing and sales leaders get their point across and have it stick, developing that top of mind recognition.

Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.

Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. 

Customer segments, in the context of marketing and business strategy, refer to distinct groups of customers or potential customers who share similar characteristics, needs, behaviors, and preferences. Identifying and categorizing customer segments is a fundamental part of market segmentation, a strategic approach used by businesses to better understand their target audience and tailor their products, services, marketing efforts, and customer experiences to meet the specific demands of each group.

📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature. 

Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.

Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism

A Minimum Viable Product (MVP) is the simplest and most basic version of a product or service that a company can create and release to the market to test its concept, gather feedback, and learn from user interactions. The primary goal of developing an MVP is to validate whether there is a demand for the product or service and to understand how users engage with it, without investing excessive time and resources in its full development.

📎 Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature. 

Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.

Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism

Developing an elevator pitch is essential for entrepreneurs to communicate their business effectively, make strong first impressions, seize opportunities, and build meaningful connections with stakeholders. Having a well-crafted elevator pitch at the ready can be a game-changer in the dynamic and fast-paced world of entrepreneurship.

Season 7 - Behavioral Economics of Entrepreneurship

Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.

Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute.