Back in 2018, I found myself sitting in what would become my favorite class at Clemson University: MKT 3020 (aka Consumer Behavior). It’s honestly a little painful to realize that nearly ten years have passed since then! But here’s the thing: I’m still using the things I learned from that class in my marketing work today.

So, what exactly is consumer behavior? In a nutshell, it’s the study of how individuals and groups make buying decisions, using concepts from behavioral science. Think about how you feel tempted to buy something just because it’s 10% off, even though you’d never pay full price for it. Or why you might have been persuaded by one (or maybe several!) TikTok Shop videos from accounts you love.

One of my favorite topics in consumer behavior is cognitive biases. These are mental shortcuts our brains take, often leading us to make decisions without realizing we’re not being totally logical. We rely on emotions or past experiences rather than pure logic—because, after all, we’re human, not computers!

When marketers understand how to leverage these cognitive biases, they can shape the way people think and act, using these mental shortcuts to nudge consumers toward their products.

Honestly, I could go on and on about this stuff, but for now, here are eight cognitive biases that I think every marketer should know!

Anchoring Bias

Anchoring Bias is one of the most mind-boggling cognitive shortcuts we fall for. It happens when we rely too heavily on the first piece of information we’re given when making decisions—whether it’s a price, a fact, or a number.

For example, if you see a sweater originally priced at $100 marked down to $75, that first number ($100) “anchors” your perception, making $75 seem like a steal, even though $75 might still be more than you’d normally spend.

As marketers, we can tap into anchoring bias to influence how customers perceive value by starting with a higher price, making any discount feel even more irresistible. Growing up, I vividly remember JCPenney being notorious for this tactic, but today, Amazon is the master of the game, constantly using anchoring to make deals look too good to pass up.

Social Proof

Social proof is the idea that we tend to follow the actions of others, especially when we’re unsure about a decision. I mean, think about it! When you see a product with thousands of glowing reviews or a long line outside a new restaurant, you’re more likely to trust that it’s worth your time and money.

In marketing, social proof can be implemented in many ways—customer testimonials on your website, user-generated content on social media, or even phrases like “best-seller” or “most popular.” These techniques build trust and credibility, making customers more confident in their purchasing decisions.

Framing Effect

The Framing Effect is just what it sounds like. It’s all about how the presentation of information can influence our decisions. The same piece of information can lead us to different conclusions depending on how it’s shared.

For example, if a product is advertised as “90% fat-free,” it might sound more appetizing than if it’s described as “10% fat,” even though the actual information is exactly the same. By highlighting the positive aspects or potential gains of a product first, marketers can steer customers toward a more favorable view of their brand.

Sunk Cost Fallacy

Oh, the Sunk Cost Fallacy! How I adore this one. In fact, I even find myself falling for it in my personal life.

To start with, a fallacy is a flaw in reasoning that undermines the credibility of an argument. The Sunk Cost Fallacy specifically refers to our tendency to keep investing in something simply because we’ve already invested a lot, even when it’s no longer the best choice. It’s why you might still attend a concert for an artist you no longer enjoy just because you bought the tickets a year ago.

Marketers often exploit this tendency by encouraging customers to stick with a product or service they’ve already invested in. For instance, cell phone companies use early termination fees to discourage customers from switching, and subscription boxes keep you committed by making it harder to cancel once you’ve started.

Loss Aversion

Loss Aversion is our fear of losing what we already have and the very human tendency to find loss more painful than gain is rewarding.

Marketers often use it by framing promotions around what you’ll miss out on if you don’t act fast. For instance, phrases like “Don’t miss out!” or “Only a few spots left!” are classic examples. And for my fellow thrift store enthusiasts, we know this all too well. The fear of letting go of that one-of-a-kind find if we don’t grab it now—it’s like it’ll vanish forever if we don’t act quickly!

Availability Heuristic

A heuristic is essentially a rule of thumb or mental shortcut that helps us make quick decisions without analyzing every detail. The Availability Heuristic specifically refers to relying on the most immediate examples that come to mind when making a decision.

Let’s say I ask my husband to buy me a shirt. My husband’s list of available options for women’s clothing may be a lot smaller than my own, which probably means I’m getting a shirt from Target or Old Navy. He won’t think to check the countless women’s clothing stores at the mall because they aren’t top of mind!

In marketing, the availability heuristic is crucial. Brands that consistently advertise across channels—online, on TV, and on social media—are more likely to stay with us. This means that when it’s time to make a purchase, we're more likely to choose those brands simply because they’re more readily available in their memory.

Choice Theory

Choice Theory revolves around the idea that we make decisions based on our internal motivations and needs, specifically aimed at fulfilling our basic needs for survival, love, and power.

Marketers who align their brand’s messaging with these core values can benefit from Choice Theory! Hallmark is always the example that comes to mind for me. Their marketing frequently focuses on feelings of love, appreciation, and relationships, whether through greeting cards or sentimental (yet cheesy) holiday movies.

Confirmation Bias

You might not want to admit it, but Confirmation Bias is undeniably real. It’s our natural tendency to favor information that supports our existing beliefs and to ignore anything that contradicts them. For instance, if you believe a particular brand is the best, you’re likely to seek out reviews that affirm this while disregarding any negative feedback as “spam” or “haters.”

By listening to current customers and reflecting their positive opinions in your messaging, marketers can reinforce and enhance their views. If your customers appreciate that your brand is eco-friendly, make sure to highlight your sustainability efforts prominently. This will also foster even deeper loyalty!

Phew! That was a lot to take in. What are your thoughts on cognitive biases? Do you find them as interesting and useful as I do? Let me know—I've got plenty more to share and would be happy to make a part two!