Author: Nam

Ever notice yourself copying what others are doing or saying at social events? This is probably happening because of a psychological condition called informational social influence.

So, I’ve been seeing a lot of people wearing puffer jackets lately, like I mentioned before, and wanted one too.

But I didn’t know which style or size was good for me.

This is where my sister and cousins came in.

We were shopping during Boxing Week (it’s like Black Friday in the US but around Christmas Day) and I asked them to help me find a new jacket because I wanted their advice.

I tried a few on (different styles and different colours) and I liked most of them.

But there was a specific one that my family liked more than the others.

And because I valued their opinion, I also found that one specific jacket to look the best on me.

So what’s the point of this uninteresting story?

Well, it’s an example of a psychological phenomenon where people will look to others to find out how they should behave when they don’t know how to react. Continue reading “What is Informational Social Influence and How Does it Affect Our Decisions?”

Have you ever been a victim of the decoy effect? You may think that you haven’t, but trust me, the majority of people have.

Okay, so here are two options:

• The first – you get a 5-blade razor with one additional blade head for $10
• The second – you get a 5-blade razor with a pack of 10 additional blade heads for $65

Which one would you choose?

Okay, now I’m going to add an option:

• The third option – you get a 5-blade razor with 4 additional blade heads for $50

Which one would you choose now?

I’m guessing you’re going to choose the $65 option because why wouldn’t you?

For another $15, you get 6 more blade heads than the $50 option. 6 more.

That’s going to last a long time, especially if you’re cheap like me and will use the blade until it’s dull like the most boring thing you can think of (country music?).

Another reason why I’m guessing this is because of a specific psychological theory about decoys. Continue reading “How The Decoy Effect is Used in Marketing”

The mere exposure effect is a psychological phenomenon that says people are more likely to want something if they are exposed to it a lot.

You know that one stupid, annoying song that keeps getting stuck in your head?

And then after a while, it grows on you?

Yeah, I hate those. But the reason why it sticks to you like wet cotton candy is that the radio keeps exposing us to it.

And you know those silly-looking fashion trends that all of a sudden look awesome after a couple of months?

Yeah, you started liking them (and the annoying song) because of a psychological theory called the Mere Exposure Effect.

According to this concept, the more that people are exposed to something, the more that they’re going to want or desire that thing. Continue reading “How is the Mere Exposure Effect Used in Ads?”

In psychology, loss aversion is a theory that says people tend to feel the effects of losses more strongly than the effects of gains.

I need you to go back into your subconscious and remember something traumatic.

I need you to think back to a time when you lost $20 and how you felt at that moment. I’m guessing it was painful.

Now, think of a time when you found $20, like in an old jacket pocket for instance. How did you feel at that moment?

You probably felt pretty good.

But the feeling you got most likely didn’t compare to how you felt when you lost money.

When you lost the $20, you probably felt something stronger.

The reason why I think this is the case is that people feel more stressed when they lose something than they would feel joy if they found something of equal value.

This psychological theory is called loss aversion. Continue reading “What is Loss Aversion in Psychology and Marketing?”