How Scarcity Influences What You Buy & How Social Media Clouds Your Perception


Manage episode 348202586 series 1321194
By Mike Carruthers | OmniCastMedia | Cumulus Podcast Network | and Mike Carruthers | OmniCast Media | Cumulus Podcast Network. Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio is streamed directly from their servers. Hit the Subscribe button to track updates in Player FM, or paste the feed URL into other podcast apps.

Your doctor is supposed to wash his or her hands between patients. But sometimes doctors forget. Would you speak up if you saw that and ask your doctor to wash up? This episode begins with a look at this important problem.

Scarcity is powerful. It is the force that drives people to stock up on toilet paper before a storm or to buy something they might not buy because it is on sale for 2 days only. When something is hard to get it becomes more desirable. Sometimes things really are scarce but sometimes it may just be manipulation. Here to discuss how marketers use scarcity and why it works so well is Mindy Weinstein a marketing instructor at Grand Canyon University and the University of Denver, as well as a program leader for The Wharton School and Columbia Business School. Mindy is also author of the book THE POWER OF SCARCITY: Leveraging Urgency and Demand to Influence Customer Decisions (

If you spend a lot of time on social media, it can become a lens through which you see the world. It takes on an importance that is a little proportion and it can become addicting. That is exactly what happened to Dr. Brian Boxer Wachler, MD and author the book Influenced: The Impact of Social Media on Our Perception. ( Listen as Brian tells his personal story of social media addiction and discusses what happens in your brain each time you click “Like”. It is an important story for anyone who worries they may be spending a little too much time on social media or have kids who may be doing the same.

What will happen to your pets if you die before they do? You might think you know but listen as I explain what you need to do to make sure your wishes are followed – and it is not just about putting it in your will.


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