Putting theory into practice

This paper shows how behavioural economics (BE) and social psychology can be incorporated into market research methodologies to reveal non-conscious or irrational drivers of consumer attitudes, behaviours and decision making.

Putting theory into practice

Tom Vannozzi and Stephen Skippon

Introduction

There has been considerable excitement in recent years around the use of Behavioural Economics in market research, advertising and marketing. Whilst it has existed in the world of academia since the late 1970s, a number of recent popular publications such as Nudge (Thaler & Sunstein, 2009), Predictable Irrational (Ariely 2008), Sway (Brafman & Brafman, 2009), Freakonomics (Levitt & Dubner, 2005), and Thinking Fast and Slow (Kahneman, 2011) to name but a few have helped give those interested a common frame of reference and a new terminology to leaven their understanding...

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