subscribed 2015: psychology of the consumer
TRANSCRIPT
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Type 1 Mindset…
DOPAMINE
DOPAMINEComforted
Comfort, familiar, tried & trusted, social validation habitual behaviors
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Type 2 Mindset…
DOPAMINE
DOPAMINEComforted
Comfort, familiar, tried & trusted, social validation habitual behaviors
Excitement, novelty, Variety, challenge
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Evolution of businesses: Type 2 Type 1…
DOPAMINE
DOPAMINEComforted
Good at Exploitation
Good at Exploration
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Next: Influencing others…What we have seen so far
Focusing on the rational brain is not enoughNeed to focus on the needs of the instinctual brain
X Framework: Type 1 vs Type 2 mindsetsType 1: Alleviating stress, fear, frustration; fostering
comfort, reassurance, peace of mindType 2: Alleviating boredom; fostering excitement“Hybrids”: The brain
Needs some reassuranceBefore going in for excitement
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Influencing Type 1s…Comfort, reassurance
Familiarity, trust, rapportSocial proof, validation
Stress, fear, frustrationSafety nets (e.g., guarantees, insurance) Frustration by reducing time, effort (physical, mental)
Also: Desperation (e.g., social rejection)
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Type 2s & Hybrids…
Type 2s: ExcitementNovelty, Variety, Discovery, Adventure, Challenge
Hybrids: Build some reassurance into the value propositionThen offer excitement
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Discovering the solution(s) the customer is seekingThe pathway or pathways (type 1, type 2, or both) through
Heuristics (based on factors that influence the pathways)Research
Discovery…
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Open to explorationNew IdeasFeeling reassured
Other factors influencing the mindsets…
Age
AGE NEUROCHEMICALS [serotonin, dopamine]
Time-of-day LATER IN DAY NEURO-
CHEMICALS
[serotonin, dopamine]
Alcohol* CORTISOL
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Factors influencing the mindsets…
Age
AGE NEUROCHEMICALS [serotonin, dopamine]
Time-of-day LATER IN DAY NEURO-
CHEMICALS
[serotonin, dopamine]
Alcohol* CORTISOL
Time of day
Sero
ton
in
Wake up
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Other factors: Relevance for leaders…
Sleep hygieneImportance of deep sleep
Fitness hygieneAbout 15 min. of cardio target heart rate
Release of a peptide, ANP SerotoninDietary hygiene
Importance of protein in the diet
© Baba Shiv 2015, All Rights Reserved
Summary…Emotion not reason drive most decisionsCrafting solutions for the emotional brainSolutions differ: Type 1 vs Type 2 mindsets
Type 1: Reassurance through trust, familiarity, social validation, safety nets, etc.
Type 2: Excitement through novelty, variety, etc.
Factors influencing the mindsetsAge, time-of-day, sleep, fitness and diet