Liraz Margalit

Digital Psychologist, Topicx

Session: Why is Starbucks so successful despite its mediocre coffee?
16:20 - 17:05, May 17th 2022, Strategy
 

The rules of competition have changed. We live in a world of abundance, in which the services and products have become a marginal part of the purchase decisions. What drives today’s customers are emotions and feelings, some of which can’t be expressed in words and are triggered unconsciously. The most important element in buying a product is how the product makes a customer feel. The name of the game is experience and experience is determined by emotion. The new world is characterized by small to medium businesses that still offer discounts and promotions, while successful companies don’t talk to their customers about money anymore.

Their new currency is our experiences. If in the past, it was enough to offer a good product at a competitive price, the business world has been revolutionized in recent years. This approach does not work today. From a world of products and services we have entered a new era, the era of experiences. The word “customer experience” is much more than a popular buzzword. A customer experience has become more important than the product itself and companies that will ignore that, will find themselves out of the game.

Biography

Liraz Margalit, PhD, is a Social Psychologist who specializes in Behavioral Design and Decision Making. She integrates Neuropsychology and Behavioral Economics perspectives to analyze User behavior and deliver actionable insights for business stakeholders. Liraz is a lecturer at the IDC and a worldwide keynote speaker. Her consumer behavior research was awarded with the OBE, Online Business Excellence for 2016 as well as the Best of Neuromarketing and was chosen as CMSWire contributor of the year 2017. Her research papers and studies can be found in top business magazines such as Entrepreneur, TechCrunch and Forbes. She also writes an ongoing blog for Psychology Today named “Behind Online Behavior”.