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Episode #097: Psychological Ownership in Sales with Colleen Kirk

In This Episode of The Buyer’s Mind with Jeff Shore:

Colleen Kirk and Jeff get into the topic of psychological ownership.  When does your customer own something? Is it when you close the sale?  Is it when they walk away with what they’ve bought? Would you believe that they might own it before they talk with you? Often times people fall in love with a product and just the act of touching it gives them a feeling of ownership.  Be careful, a salesperson can actually become an obstacle to psychological ownership. Learn how to keep your customer engaged in this episode of The Buyer’s Mind.

Topics we’re going to cover on today’s podcast:

[1:04] Psychological ownership – what is it?

[3:41] Why are the bagels so good in New York?

[4:18] Colleen Kirk’s interest in consumer behavior

[9:13] Can you own something long before you actually own it?

[13:30] How much of psychological ownership is based in emotion?

[20:38] Conflicts between consumer’s psychological ownership and the salesperson’s product

[24:38] Psychological ownership of a brand

More about our guest Colleen Kirk:

Colleen P. Kirk’s research centers around consumer behavior, especially in the areas of psychological ownership, emotions, and decision-making. Specific areas of interest include: exploring how and when consumers’ feelings of ownership lead to territorial responses; understanding how consumers come to feel a sense of ownership of intangible digital technologies and its implications for marketers; narcissism in consumer behavior; and nonconscious processing and investor behavior. Focusing her research on experimental design, Dr. Kirk is also interested in diverse methodologies and analytical techniques. Her work is published in top journals such as Journal of Consumer Research, Journal of Advertising Research, Entrepreneurship: Theory and Practice, Journal of Behavioral and Experimental Economics, Journal of Brand Management, Journal of Marketing Theory and Practice, and Journal of Retailing and Consumer Services. An award-winning researcher and reviewer, she presents at leading national and international conferences, and is a regular reviewer for top journals.

In addition to her research, Dr. Kirk has an extensive professional background in product management, marketing, and sales in the computer industry. Prior to joining the faculty at NYIT as assistant professor of marketing, she taught for five years as assistant professor of marketing at Mount Saint Mary College in Newburgh, N.Y., and previously as an adjunct professor at Mercy College in Dobbs Ferry, N.Y. in Math, Computer Science, and Business. Dr. Kirk enjoys engaging her students in live projects for industry and nonprofit organizations, which gives students hands-on experience in applying marketing theory while providing value to clients.

Dr. Kirk holds a Bachelor of Arts from Cornell University, a Master of Business Administration from Southern Methodist University, a Master of International Management from the Thunderbird School of Global Management, and a Doctor of Professional Studies in Marketing and International Economics from Pace University.

Links from today’s podcast:

HomeStreet Bank

Colleen Kirk

Why We Buy: The Science Of Shopping

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Educated: A Memoir

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About the Author: Jeff Shore

Jeff Shore
Jeff Shore is a highly sought-after sales expert, speaker, author and consultant whose innovative and real-world selling strategies help you to change your mindset and change your world. His latest book, "The Keys to Unstoppable Sales Success: 8 Mindsets of Elite High-Achievement Salespeople" is now available. Learn more at jeffshore.com and follow Jeff on Facebook and LinkedIn.