PRS IN VIVO’s Executive Vice President, Jonathan Asher will be presenting at The Quirk’s Event in Brooklyn, New York.
The presentation will be held Wednesday, March 22 from 10:45 am – 11:15 am in Room 3 on “How Small “Nudges” Can Have a Big Impact on Shoppers”.
Behavioral economics emphasizes the non-rational forces and implicit biases (such as anchoring, framing, loss aversion, etc.) that impact human decisions. This field has gained considerable attention over the past several years through the research and books of Professors Daniel Kahneman, Dan Ariely and others.
PRS IN VIVO has pioneered the application of behavioral economics to consumer goods and shopper marketing. Our “Nudge” unit helps marketers to better understand the subconscious forces impacting shoppers’ decision-making – and identify powerful levers to drive behavioral change.
In this session, we will discuss key behavioral economics concepts (such as System 1 vs. System 2 decision-making, etc.) and how they apply to both consumer research and to the shopping experience. We will share numerous case studies in which marketers have applied behavioral science methods to complement more traditional (and rational) marketing efforts. Finally, we will share a “NudgeLab” process that leverages ethnography and “drivers of influence” to change consumers’ habits and purchase decisions.
- How behavioral economics principles explain “irrational” shopper behavior, leading to more effective marketing efforts.
- How small “Nudges” can drive behavioral change far more efficiently and effectively than more expensive, traditional (and rational) marketing efforts.
- How companies can apply a disciplined process for identifying and executing “Nudge” opportunities.
Learn more here on the Quirk’s webpage.