Introduction to Behavioral Economics & Consumer Psychology

person icon Matej Sucha

Introduction to Behavioral Economics & Consumer Psychology

Learn how to apply some of the most powerful principles from consumer psychology to increase conversions

updated on icon Updated on Sep, 2023

language icon Language - English

person icon Matej Sucha

architecture icon Marketing,Growth Hacking,Psychology


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Course Description

Through this excerpt from our Masterclass, you discover some of the most counterintuitive and surprising findings from consumer psychology and behavioral economics to increase conversions.

You’ll get a wholesome, well-rounded understanding of how to apply 3 of the most powerful psychological principles to improve your business results. It's packed with useful tips, fun facts, and even anecdotes so that learning is not dull, and guess what? Remembering it is a lot easier this way.

Your instructors? Four of the top experts in the field RORY SUTHERLAND, SAM TATAM, MATEJ SUCHA, and one VERY Special surprise guest.

The topics we will cover are:

  1. Introduction to the Behavioral Economics & Consumer Psychology

  2. The practical use of Behavioral Economics in business, marketing activities, and shaping better solutions for your customers

  3. Fascinating examples of the use of psychology and behavioral economics in Marketing (by Rory Sutherland)

  4. A few simple tricks that business owners can use to justify a higher price. We want prices which feel fair otherwise we won't buy. Yet the way we assess fairness is quite arbitrary.

  5. The power and danger of Choice Overload (by Sam Tatam)

  6. Mind-blowing case study by Ogilvy for KFC with the aim to increase sales of potato chips (by Sam Tatam)

  7. A beautiful illustration of the power of behavioral insights - unexpected results achieved by a simple direct mail campaign from another case study for a charity organization in the UK (by Rory Sutherland)

To get the most out of the Masterclass, first, watch the video and then read the corresponding eBook. It's full of additional case studies and examples which will help you grasp every nuance of the principle.


What will you learn in this course:

  • The nitty-gritty of the 3 of the most powerful psychological principles (Loss aversion, Fairness, Choice overload)

  • Different ways of how to apply each of them into your ads, landing pages, emails, sales funnels, and everything in between

  • Dos and don’ts for each principle, (especially what to beware of so that you don’t sound gimmicky)

  • How to reframe your message to get your foot in the door

  • How to present your offer in a way that makes people click

  • How to come up with solutions and ideas you otherwise wouldn't think of but have the potential to change your world forever


What are the prerequisites for this course?

  • There are no course requirements or prerequisites for this course. What you'll need is a notebook or pen and paper to take notes.

Introduction to Behavioral Economics & Consumer Psychology


Check out the detailed breakdown of what’s inside the course

Behavioral Economics and Consumer Psychology in Marketing
8 Lectures
  • play icon Welcome to Behavioral Economics & Consumer Psychology in Marketing 01:13 01:13
  • play icon Introduction to Behavioral Economics 13:28 13:28
  • play icon Why Behavioral Economics in Marketing 18:23 18:23
  • play icon Fairness and Perceived Value 14:25 14:25
  • play icon The Surprising Facts about Choice Overload 15:28 15:28
  • play icon Case study - Increasing Sales of French Fries at KFC 05:49 05:49
  • play icon Case study - Increasing Conversions of Direct Mail Campaign 06:22 06:22
  • play icon Thank You 00:30 00:30

Instructor Details

Matej Sucha

Matej Sucha

MINDWORX Academy began as project from passion. The founders understood that knowledge about Behavioral Economics and Consumer Psychology has to spread. They reached out to the biggest names in the field. Rory Sutherland, Sam Tatam, Matej Sucha and one special guest shared their passion and together they launched worlds leading Masterclass. MINDWORX Academy was born.

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