[Webinar Recording] Applying Behavioral Economics: How Small “Nudges” Can Have a Major Impact on Shoppers

Behavioral economics explores the non-rational forces and implicit biases that impact human decisions. Over the past several years, this field has become increasingly prominent, through the research and best-selling books of Professors Daniel Kahneman (“Thinking Fast & Slow”), Dan Ariely (“Predictably Irrational”) and others.  In fact, several governments have now established “behavioral economics” teams to help develop more effective public policy.  

PRS IN VIVO has pioneered the application of behavioral economics to consumer goods.   Its “Nudge” unit works with marketers to better understand the underlying (and often sub-conscious) forces impacting consumers’ decision making – and to identify powerful levers to drive behavioral change.

View the webinar recording today. Scott Young of PRS IN VIVO will: 

• Review key behavioral economics concepts, including “drivers of influence” (such as priming, anchoring and reciprocity)
• Discuss their implications for better understanding consumer behavior (via more effective and predictive research studies) and impacting decisions (through changes in “choice architecture”)
• Introduce Nudge, a new way to impact behavior through low-cost interventions that encourage desired behaviors
• Share numerous case studies of effective “Nudges” in the worlds of public policy and consumer goods
• Explain and illustrate a “NudgeLab” process for identifying and executing Nudge opportunities 

Viewers will gain a new framework for addressing some of their brands’ most serious underlying challenges – and a new “lever” for driving behavioral changes.     

   

Speaker: 

Scott Young

Global CEO

PRS IN VIVO