Prerna Katyal, WARC Best Practice, May 2020
HCL Enterprise’s Prerna Katyal outlines how brands can leverage behavioural science concepts to predict and adapt to the changing consumer situation as markets move to a COVID-19 recovery phase? COVID-19 pushed consumers down in Maslow’s hierarchy of needs to the ‘Safety’ level.
As marketers consider how they may need to rethink their communications during the current coronavirus crisis, one suggestion from behavioural economics is that the framing can be more important than the messaging.
There are many reasons why people fail to take actions they know they should, like saving for a pension, but an understanding of the theory of planned behaviour can help brands overcome this reluctance.
Framing is a powerful tool for making communication more persuasive and influential and one that has evolved over the years as psychologists have classified various different types; an understanding of these developments can help marketers use ...
Crawford Hollingworth and Liz Barker, The Behavioural Architects, December, 2019
Looks at the unintended consequences of behavioural science and identifies a series of wider-reaching holistic effects from nudging and steering behaviour which can have a significant impact on the overall outcome of a nudge or intervention.
The “endowment effect” – where someone who owns a good will value it more than someone who does not – has generally been put down to loss aversion, but new research suggests that there may be other explanations at play.
The notion that consumers are paralysed by an excess of choice – the findings of the famous ‘jam study’ – is too simplistic; choice overload sets in at different points depending on the type of product or service being purchased.
The novel coronavirus outbreak is causing one of the most widespread behaviour shifts in recent times – Illuminera Institute’s Ashok Sethi highlights what marketers can draw from behavioural science theories and how it can be applied to marketing strategies as new behaviours unlock new triggers.
Explores how the major digital companies are able to leverage their knowledge of consumer behaviour by continually experimenting towards better user experiences – and how any enterprise can use similar experimentation to learn.