Intro to Season 5 | Lessons From the Fire | Behavioral Economics in Marketing Podcast
May 22, 2022
A season framed by lessons from the Marshall Fire explores how natural disasters shift human behavior. Topics include applying behavioral economics to marketing, leadership, and recovery. Expect discussions on Keynesian effects, loss aversion, altruism versus self-interest, insurance and zero sum dynamics, and Maslow’s hierarchy in crisis-driven decision-making.
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Family Escape From The Marshall Fire
Sandra Thomas-Caminol recounts the Marshall Fire that destroyed her home and possessions in minutes.
Her family escaped with nothing and faced traumatic shock followed by a slow recovery process.
volunteer_activism ADVICE
Turn Trauma Into Learning
Reflect on major disruptions to extract lessons about strengths, weaknesses, and new priorities.
Use those lessons to guide professional and personal growth after a crisis.
insights INSIGHT
Behavioral Economics Vs Rational Model
Traditional economics assumes people are perfectly rational homo economicus who maximize utility.
Behavioral economics integrates psychology to explain real-world decision errors and context-dependent choices.
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Lessons From the Fire | Through this season, I will be applying lessons that I learned from the Marshall Fire in Boulder Colorado to marketing and business development, as well as professional and personal growth. Additionally, listeners can expect to hear poignant self-revelation, interesting tidbits on human behavior in the wake of a natural disaster and economic truths about everyday occurrences.
Here are just a few of the episodes that listeners can expect to hear about in season 5 of the Behavioral Economics in Marketing podcast, Lessons From the Fire: Achieving optimal outcomes with backwards induction, Keynesian Economics and Natural Disasters, Corporate philanthropy in relation to natural disasters, Altruism vs Self Seeking Behavior in Marketing and Leadership, Zero Sum Games and Insurance, Loss Aversion and the Breakdown of Societal Norms in Response to a Natural Disaster. I will also spend quite a bit of time camping out in Maslow's Hierarchy of Needs as it applies to marketing and personal development.
Lessons From the Fire, Season 5 of the Behavioral Economics in Marketing podcast will be dedicated to those that along with our family lost everything in the Marshall Fire, as well as to those that have been affected by natural disasters. My hope is that listening to this season of the Behavioral Economics in Marketing podcast will help others in their healing process. But I also believe that this season will be full of marketing wisdom for marketing professionals and business leaders.
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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
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