Module 10 - Understanding Cognitive Biases and Their Extraordinary Potential

This Podcast focuses on shopper psychology, specifically how cognitive biases influence consumer behaviour and purchase decisions. It explains what cognitive biases are, why they exist due to human evolution and brain processing (System 1 and System 2), and their importance for brands and retailers.

The session explores various types of biases, including social, memory, decision-making, and probability biases, demonstrating their application in marketing and retail strategies like Prospect Theory, social proof, loss aversion, and processing fluency. Ultimately, the course aims to equip professionals with the knowledge and tools to leverage cognitive biases for increased sales and improved brand performance through effective communication.