Ever wonder why you’re willing to pay $5 for water at an airport but hesitate to spend the same amount elsewhere? Or why some brands make you feel like their products are worth every penny?
In this episode, we break down 14 key psychological and economic factors that influence consumer spending. Through real-world examples—from luxury vacuums to lemon cheesecake branding—we explore how brands shape our willingness to pay, and how you can use or resist these tactics as a marketer or consumer.
🔎 What You'll Learn:
✅ The 14 factors that influence consumer willingness to pay
✅ How income, location, and social status shape spending decisions
✅ The power of storytelling & emotional marketing (and how brands use it)
✅ How brands use scarcity, exclusivity & social proof to increase perceived value
✅ Why fear, nostalgia, and self-improvement are major buying triggers
✅ How businesses create long-term customer loyalty (free light bulbs, anyone?)
🚀 Whether you're a marketer, business owner, or just a curious consumer, this episode will give you insider knowledge on what truly drives people to buy.
🎧 Tune in now and uncover the psychology behind every purchase decision you make!
