Behavioral Economics: Electricity for Market Research Lightbulbs?

gettipsThe market research version of innovation isn’t necessarily technology (though it can be). In fact, some of the most dramatic innovations in research right now are more about “thinking” than “doing.” Key areas of innovation in how we think about research are coming from behavioral economics and related research on unconscious decision making. These new ways of understanding consumers are creating lots of “light bulb” moments for market researchers.

High-profile books like Dan Ariely’s Predictably Irrational and Daniel Kahneman’s Thinking Fast and Slow have not only been business world blockbusters, but market research industry catalysts for change. Now more than ever, market researchers are painfully aware that self-reported behaviors and emotions can be challenging to capture.

In this class, market researchers will learn key behavioral economics (BE) concepts and how they apply to research methods and analyses.

This class teaches key BE concepts such as priming, framing, anchoring and loss aversion. In-class exercises will give students a chance to experience applying these ideas firsthand.

Your Instructors: Sagara and Korostoff

Namika Sagara, Ph.D. Namika is a uniquely qualified instructor; she is a consultant working with universities and companies to conduct research and apply academic insights from the field of behavioral economics and consumer psychology to real-world issues. Her work has been published in prestigious magazines including the Guardian and Science Daily.

Kathryn Korostoff, Lead Instructor, Research Rockstar. Kathryn has over 25 years of market research experience and is an advocate for market research excellence. She has vast experience with various qualitative and quantitative research methods, and has published over 100 articles in various research and business magazines.

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What are BE’s implications for questionnaire structure and wording? How about for focus groups and IDIs? What are the implications for pricing research? Branding research? Find out in this class.

Click for class details and registration options.


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