Behavioral Economics Toolkit
Download now to learn how understanding behavioral economics can help you.
Whether trying to convince consumers to switch banks, buy a new sports drink or take their diabetes medication on time, marketers constantly seek to influence consumer behaviors. And in support of these endeavors, marketing researchers often ask people to share what they do and why they do it to better understand their behavior. These questions are based on the assumption that respondents make decisions using rational thinking. This assumption though fails to consider that customers often don’t know or can’t explain why they decide to buy.
Behavioral economics is the discipline of interacting with the non-rational effects of psychological, cognitive, cultural, emotional and social factors on economic (or purchase) decisions. It can help marketers understand, and in some cases influence, consumer behavior. Yet despite behavioral economics’ practitioners winning two Nobel Prizes, most marketers and marketing researchers are still figuring out how to incorporate it into their portfolio of methods and tactics.
Want to better understand emotional and non-conscious drivers of customer decision making?
Download our Behavioral Economics Toolkit to:
Learn about behavioral economics
Understand why it’s important and how it can help you
Gain four best practices to infuse into your research
Meet the Authors
Robert Duboff is CEO and a founder of HawkPartners. Over his 35 year career, he has worked with clients across virtually all industries and advised senior executives on a range of strategy, brand and marketing issues.
Sharon Mowen has over 25 years of experience in custom qualitative and quantitative market research, both domestic and global. She is known for her thorough, strategically-focused research and analysis.
Jesse Epstein works with clients in the areas of qualitative and quantitative research, marketing and business development. He helps clients develop marketing strategies using research-based insights.