Course overview
Learn how unconscious biases can be harnessed in your marketing campaigns and understand the theory and practice of assembling simple experiments and applying the results.
What you'll learn
- How the study of behavioural science can benefit marketing practices
- How classic campaigns have put behavioural economics into practice to harness bias
- The EAST framework for nudging behavioural change
- Why using data to inform decision-making is more reliable than opinion
- The processes you should follow to achieve robust results from your experiments
Study method
- Online
- Blended
- In-class
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Duration study load
- 35 CPD hours
Assessment
In order to attain the Award in Behavioural Economics, you must successfully pass two x one hour online exams.
Pass marks and grades
To pass this programme you will need a minimum of 60% in the exams. In the event that the minimum pass mark is not met, you will have the opportunity to resit at a later date.
Delivery
Online
Enjoy the flexibility of devising your own personalised study routine with your programme deadlines via a stream of online content run over 12 months. You will receive email support and 24/7 access to course materials.
Subjects
- What is Behavioural Economics?
- Why we should use behavioural economics in marketing
- Three ways you could be harnessing behavioural economics
- The danger of claimed data – why it is better to observe behaviour than listen to consumer claims
- Overestimating the importance of target audiences
- Give more emphasis to target contexts
- De Beers – anchoring
- Nespresso – price relativity
- Frame works MINDSPACE and EAST
- The government implementation of Behavioural Economics
- How small pieces of friction can have a disproportionate influence on behaviour – look at the example of suicides (North Sea gas and paracetamol)
- How many brands suffer from choice paralysis and what they can do about it
- Setting up your hypothesis
- Understand the context with in the data
- Reach meaningful conclusions
- How consumers don’t have enough time or energy to weigh up decision rationally
- How prices can be made to appear more attractive – scope insensitivity & payment method
- How promotions can be made to appear more attractive – plausibility
- Counter-intuitive ways of boosting attractiveness: pratfall effect
- How consumers look to others when making decisions
- Show how social proof can backfire
- Show how social proof can be used creatively
- How the same message can have a markedly different effect depending on when people hear it
- Why talking to consumers after a life-event is a window of opportunity
- How brands can capitalise on the fresh start effect
- Why brands should give disproportionate emphasis to the peak and final moment of the experience they create
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.
