4:00pm - 4:20pm Behavioral Economics: Marketing’s Latest, or the Tipping Point for Transformation?
Monday Jun 12
We know that an understanding of behavioral science provides critical insights into human decision making. This knowledge can be leveraged to understand the true motivations behind the choices that people make, and a deeper understanding into "why they buy". For marketers to successfully position their brand to meet consumers’ needs, they must have an accurate understanding of what those needs are. Carefully constructed market research can reveal consumers’ actual behavior rather than what they say they would do or buy. This presentation will cover 2-3 client case studies from projects completed in 2016 in both the pharmaceutical and consumer packaged goods markets that showcase the application of behavioral science methodologies to market research. All case studies will include the business question, the behavioral science methods applied, as well as the resulting strategy and metrics.