Why You Always End Up Buying Things | Future IQ

Marketing & Sales often use really strong psychological tricks in order to rope you in to buy more than you need. Indicating scarcity, inciting a fear of missing out and evoking a need for social validation are some such tricks used by Marketers. In this episode, we explain these tricks with the help of real-life examples. Loss aversion & endowment effect are some other psychological tactics that are connected to these tricks used by sales & marketing professionals to manipulate you. Robert Cialdini, a professor and renowned psychologist within the field of Marketing & Business has written a book called Influence: The Psychology of Persuasion where he pens down 6 principles of Influence. A must-read if you want to understand psychological tricks of sales & marketing better. We have referred to this book along with giving some tips on how one can avoid falling for such persuasion tactics. Click below to buy the book Influence: Psychology of Persuasion by Robert Cialdini: https://tapthe.link/-zbiG0F4V_ More Episodes You May Enjoy: Sunk Cost Fallacy, Loss Aversion and Endowment Effect: https://youtu.be/pgH79XsGlo4 Group Conformity in Sociology: https://youtu.be/_XhIECCt_P8 System 1 vs System 2: https://youtu.be/DIVTMooO7o4 Are you Baloo Or Bagheera: https://youtu.be/Zj4IlAtCwok Hope you enjoyed FutureIQ by Navin Kabra and Shrikant Joshi. Do hit us up on Twitter: @ngkabra http://twitter.com/ngkabra @shrikant https://twitter.com/shrikant Listen it on the podcast provider of your choice: https://tapthe.link/FutureIQRSS Watch other episodes of The FutureIQ podcast: https://www.youtube.com/playlist?list=PLAppTB0r5_TaYueZ0adD42Wiw5X-wTE4v Sources Cited in this episode: Byju's Sales Pitch: https://the-ken.com/blog/byjus-and-the-art-of-the-deal/ Many examples of decoy effect: https://arpitsrivastava.com/marketing-examples-of-the-decoy-effect/ Are you a System 1 or System 2 thinker? https://www.psytoolkit.org/survey-library/thinking-style-rei.html Chapters: 00:00 Is there REALLY Only 1 Item Left? 04:05 Fear of Missing Out 07:36 Trap of Social Validation 09:58 Psychology of Persuasion by Robert Cialdini 11:45 How to be Wary of These Tricks? #futureiq #marketing #psychology #salesstrategy