Things you hear go in short-term memory, partly so you can replay them in your mind and detect further meaning in them. When they get transferred into long-term memory, what seems to go there is the semantic content - a more verbal, analysed version than the original oral one.
Repeating a word many times will probably fill up short-term memory, which would be a little disorienting, as any other sound and ideas you have would be displaced. In computer terms, you are flushing the cache.
Many methods of mind control use repetition of mantras, prayers, team chants, music, or self-hypnosis ("I will succeed! I will succeed!") to affect the continuity of the conscious mind, and thus engineer a state of mind that is open to change and/or closed from distractions.