Behavioral science in marketing
Duration: 3 hours
Richard Thaler won the Nobel in Economics for his ideas on how citizens can be nudged to do beneficial things (recycle, save for retirement, pay taxes on time, eat healthier, etc.) using insights from behavioral science. Similarly, this module discusses how similar insights can be used in marketing. For example, according to research on framing and loss aversion, framing a discount as “save 5%” is more effective than “gain 5%”.
Methods. Practical examples, discussions on participants’ experience, working on case studies, developing a marketing strategy.
Outcome. Participants will understand how to use the latest research in behavioral economics to make their marketing efforts more effective.
 Actually the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel