Marketing MBA: Psychological ‘Anchoring’ and How It Affects Purchase Decisions – Dr Brent Coker

Marketing MBA: Psychological ‘Anchoring’ and How It Affects Purchase Decisions – Dr Brent Coker What people see before affects their decisions to purchase, through a process called “Anchoring” So when you think about it, the internet is linear. People can…

Marketing MBA: Psychological ‘Anchoring’ and How It Affects Purchase Decisions – Dr Brent Coker

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Marketing MBA: Psychological ‘Anchoring’ and How It Affects Purchase Decisions – Dr Brent Coker

What people see before affects their decisions to purchase, through a process called “Anchoring”
So when you think about it, the internet is linear. People can go forward and see something new, or go backwards. So what? Well, it affects their decision making.

In this episode I explain the concept of psychological anchoring, and how you can use it to increase engagement and purchase.

ABOUT THIS SERIES
In this series I’m going to give 18 marketing tips over 18 days. Gold nuggets of marketing knowledge hidden in academic literature — stuff that has a powerful effect on consumer behaviour, but perhaps not that well known.

ABOUT BRENT
Dr Brent Coker is a researcher and lecturer of Marketing at the University of Melbourne, and advisor to the Cape Viral Marketing & Influencer Management Agency (https://wearcape.com.au/).

He has a PhD in electronic commerce (“Predicting Internet Purchase Intention”). His research specializes in Viral Marketing, and he is author of the WH Smith Heathrow chart topping book “Going Viral”, which is the culmination of a seven year study on psychology of building a strong brand and customer engagement.

He teaches MBA at Melbourne Business School, and PostGrad/Undergrad Digital Marketing at the University of Melbourne.

Brent founded the dot-com “Fernland” in 1998, and is currently founding director of Deloosh Pty Ltd – a technology and market research company. He is also inventor of the web analytics tool “webreep” (https://en.wikipedia.org/wiki/Webreep_Model) which was the first web app to detect and measure website dissatisfaction.

Brent was awarded “best entrepreneurial educator of the year” by the business and higher education round table in 2012, and from 2012-2013 wrote a monthly column for Business Solutions magazine. His more scholarly research has been published in the Journal of Experimental Social Psychology, Journal of Retailing, European Journal of Marketing, and the Journal of Economic Psychology.

Brent is content producer and presenter of the Masterclass series “Virology” – an insightful summary of the science behind word-of-mouth and the psychology of consumer engagement (https://brentcoker.com/virology/).

He lives with his four daughters in Melbourne, Australia, where he rides his bicycle for fitness, and his motorcycle for fun.

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For more information about Brent, keynote bookings and consulting: https://brentcoker.com/

Brent helps brands tell a better story.

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