Applying Behavioural Economics to your Marketing Strategy

September 10th 2018 2 Hours (9:30 - 11:30)

November 15th 2018 2 Hours (9:30 - 11:30)

Behavioural Economics studies the psychological and cognitive reasons behind human decision making, particularly around economic decisions. We tend to believe consumers make marketing decisions based on what is most logical (e.g. cheaper = better). However, this is far from a universal truth.

Understanding the processes that cause people to make decisions counter to what is ‘rationally best’ empowers us to better understand our audiences and consumers and in turn allows us to deliver a more effective marketing strategy.

Who should attend the course?

Marketing Directors, Marketing Managers, Brand Managers, Consumer insight and planning managers.

Level

This is a beginner level course.

After the course you will be able to

  • Understand about ‘System 1’ and ‘System 2’ thinking and how people react when confronted with stimulus
  • Have a familiarity with heuristics and how these cause consumers to make bad decisions
  • Comprehend the concept of ‘Nudging’ and how to use it to influence consumer behaviour
  • Incorporate good ‘Choice Architecture’ into presentations and briefings
  • Provide real world examples of these concepts into practice
  • Overcome heuristics that can lead to bad decision making

Course Content

 

  • Thinking, Fast and Slow – how the mind makes decisions in two distinct ways
  • Thought process shortcuts – what are heuristics?
  • Crafting nudges into day to day business
  • What is Choice Architecture and how can we employ it?
  • Application of Behavioural Economics into stakeholder management and presentations

Why Core Learning

We are the only marketing communications group with a deep understanding of Behavioural Economics and how to apply this to your marketing strategy.

Do you recommend any interesting websites/books prior to the course?

 

  • Thinking, Fast and Slow’ – Daniel Kahneman
  • ‘Nudge’ – Thaler and Sunstein

 

Book this course

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