A Practical Application of Behavioural Economics in Research – Understanding Consumer Behaviour

Recent discoveries in neuroscience, psychology and behavioural economics (BE) are unravelling the mysteries of how we behave – and how we respond to market research questions – and forcing clients and agencies to acknowledge that much of the data we collect may not be how consumers really think or behave but only how they think they do. This raises important questions on how we reappraise our methods to ensure we get beyond post-rationalised responses but also how we can leverage BE in our analysis to ensure we come to more impactful recommendations.

Who would benefit

This one day workshop is a practical introduction to the implications of our new understanding on how consumers behave for consumer research. It will be useful to anyone who does not already have a detailed knowledge of this area and wants to look across research methods. It is probably most suited to client-side researchers who are in a position to buy different types of research but anyone agency side who wants to explore the implications of our learning, could also benefit.

Objectives

• To have a broad overview of decision science/BE learning and how it applies to Insight
• To look at how we can bring in new scalable techniques to make use of the learning (such as ethnography, facia coding and eye tracking)
• To look at how we might want/have to adapt existing techniques in the light of learning (such as questionnaire design and measuring intuitive associations)

Learning outcomes

• To be able to articulate a simple outline of the implications of decision science/BE for the Insights world and have formed own point of view
• To have ideas of new research approaches you might want to consider

Level
Specialist