The Hidden Psychology of Marketing: Strange Phenomenons That Secretly Influence Consumer Buying Decisions

In this Knowledge Ketchup session, Nilesh Manandhar explored how hidden psychological phenomena influence the way consumers think, feel, and make purchasing decisions. The presentation covered five powerful concepts, and he demonstrated how marketers use these principles to shape customer behavior through real-world examples from popular brands, sports, and everyday experiences.

Transcript

1. The Hidden Psychology of Marketing Strange Phenomenons That Secretly Influence Consumer Buying Decisions Knowledge Ketchup Session Presented by: Nilesh Manandhar
2. Agenda: What We’ll Learn Today? 1. The IKEA Effect 2. The Decoy Effect 3. The Pratfall Effect 4. The Von Restorff Effect 5. The Peak-end Rule
4. The IKEA Effect Examples • A football fan designing his/her own jersey with their customized name, number, and logo • IKEA Effect Coca Cola Video Example Figure: IKEA effect Example Image Key Takeaway 🤝 People value what they help create.
6. The Decoy Effect Examples Imagine buying popcorn at a QFX Cinemas theatre. You see Small, Medium, and Large. The large costs only Rs. 100 more than the medium, so most people think, "Why not spend a little extra and get much more?" The medium isn't there to be chosen, it acts as a decoy, making the large option seem like the best deal. Figure: The Decoy effect Example Image 🎯 The way choices are presented influences decisions. Key Takeaway
8. Figure: Pratfall effect Example Image The Pratfall Effect Video of IShowSpeed The Pratfall Effect Examples One biscuit by Good Day Britannia was unique compared to other biscuits, it was unintentional pratfall effect Key Takeaway 😊 Small imperfections can build trust.
10. The Von Restorff Effect Examples • One yellow personalized chair among hundreds of black chairs becomes unforgettable, it shapes ads, thumbnails. • Bicycle Kick Goal among all other normal goals • The Von Restorff Effect Video Example Key Takeaway ⭐ What stands out is what people remember. Figure: The Von Restorff effect Example Image
12. The Peak-End Rule Examples • Unboxing Experience of New Products • The Peak End Rule YouTube Video Example Figure: The Peak-End Rule Example Image Key Takeaway 🎬 People remember the peak and the ending more than the whole experience.
13. DISCUSSION and Q&As 1. Do you agree or disagree with the statement: 'People don't buy products; they buy stories.'? 2. Have you ever bought something that cost more than the cheaper alternatives? What made you choose it?
14. The End Thanks for listening!