Course overview
A practical guide to harnessing irrational consumer decisions and making them, if not entirely predictable, then far more intelligible using Behavioural Economics principles.
Campus locations
What you'll learn
- Use the principles of Behavioural Economics to develop frameworks for research and planning
- Change the context in which you present choices to consumers
- Develop messaging that influences patterns of consumption
- Build messaging that nudges people to make more profitable decisions
- Identify and modify consumption habits and patterns
- Understand the power of the default option
- Understand how ‘mental accounting’ affects decision making
- Make ‘irrational’ consumers more predictable
Study method
- In-class
- Online
- Blended
Locations
- England
- London
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Duration study load
1 day (7 CPD hours)
Delivery
Home Learning
All learning products and services are currently being delivered digitally using the following engaging formats:
- Virtual classroom: Tutor-led, live, online classroom environments
- Online: Self-study, via an always-on, always open portal, providing an engaging multimedia learning experience
Who's it for?
- Marketers with little or no knowledge of Behavioural Economics
- Anyone involved in planning and developing marketing communications
Taking this course will give you the theoretical and practical underpinning to turn the marketing unpredictable into the predictable.
You will add the ability to predict patterns of behaviour and habits to your strategic toolkit.
Subjects
- Major principles: heuristics and biases
- History, context and background
- BE’s place in the boardroom
- Why now?
- Heuristics, biases and principles
- Thinking fast, thinking slow – systems thinking patterns
- Choices
- ‘Two selves’
- Decoding the interface
- Neuromarketing: what neuroscience adds to the BE toolkit
- Recognition of perceptual cues
- Context – what it stands for
- ‘Natural’ theories of motivation
- Rational motivation
- Incentive theory – intrinsic and extrinsic motivations
- Behaviourist theory
- Socio-cultural theory
- Attribution theory
- ‘Crowding out’
- ‘Autopilot’ frames our experience
- Alternative framing or reframing – strategy and tactics
- The aims and goals of reframing
- Case studies
- Advertising and social proof
- Distinctiveness
- Reducing the ‘pain of payment’
- Mood
- Expectancy theory
- The Terrible Curse of Knowledge
- Trust and reciprocity
- Cooperation, punishment and social norms
- Cultural innovation strategy
- ‘Identity’
- ‘Herding’ and social learning
- How the decision journey has changed
- Touchpoints and time
- Using BE to analyse and modify consumer decisions
- Implicit and explicit goals
- Habits
- Goal value and mapping
- Asking the right questions
- Breaking down barriers
- Comparisons and efforts
- Saying the ‘right thing’
- Generating solutions
About Institute of Data & Marketing
For 30 years, it's been our mission to provide best-in-class training, qualifications, events, resources and membership services to meet the real-world needs of today's digital, direct and data marketers.
Committed to helping every marketer be the best they can be, the Institute of Data & Marketing exists to support, encourage and improve marketing performance from your first steps on the career ladder, right to the very top.
Every Institute of Data & Marketing programme is designed and delivered by practising marketers, who know what it takes to succeed at the job and are dedicated to helping you succeed in yours. The Institute of Data & Marketing advocates lifelong learning. We maintain an up-to-date training and qualifications portfolio designed to meet the needs of marketing practitioners throughout their careers—at every stage, from college student to senior marketing manager.
The Institute of Data & Marketing has a worldwide reputation for the quality and practical nature of its training and qualifications. Our services – for individual marketers and businesses – are in demand worldwide as more and more businesses seek to apply personal, customer-centric, one-to-one marketing.
