behavioral economics - help vs. hype
DESCRIPTION
TRANSCRIPT
BEHAVIORIAL
ECONOMICS
PAID UPFRONT FOR A GYM MEMBERSHIP AND THEN NOT GONE?
BOUGHT A LOTTERY TICKET?
NOT TAKEN YOUR MEDICATION?
SMOKED TOBACCO?
NOT PAID OFF YOUR CREDIT CARD BILL?
GIVEN IN TO TEMPTATION?
HAVE YOU EVER
YOU ARE A
HOMO SAPIENS
IF YES
YOU ARE A
HOMO ECONOMICUS
IF NO
DAN ARIELY CALLS US
BE BECOME MORE MAINSTREAM
WE ALL ENCOUNTER BE
EACH & EVERY DAY...
BE COMBINES
KEY BE PRINCIPLES MARKETERS
SHOULD THINK ABOUT
IRRATIONAL
VALUE
ASSESSMENT
$5 bottle of wine $45 bottle of wine
WHICH ONE PROBABLY TASTES BETTER?
IRRATIONAL
VALUE
ASSESSMENT
AND NOW?
SELF FULFULLING PROPHECY OF CHEAPER STUFF
IRRATIONAL
VALUE
ASSESSMENT
THE
POWER
OF FREE
WHICH WOULD YOU CHOOSE?
Hershey Kisses
chocolate for 1 cent
Lindt Lindor chocolate
truffle for 15 cents
THE
POWER
OF FREE
WHICH WOULD YOU CHOOSE NOW?
Hershey Kisses
chocolate for 0 cents
Lindt Lindor chocolate
truffle for 14 cents
THE
POWER
OF FREE
WE JUST LOVE THE WORD FREE
DECISION
PARALYSIS
6 varieties on display 24 varieties on display
WHERE ARE YOU MORE LIKELY TO STOP TO TASTE A JAM?
DECISION
PARALYSIS
6 varieties on display 24 varieties on display
WHERE ARE YOU MORE LIKELY TO BUY A JAM?
10X MORE PURCHASES
MORE CHOICE IS NOT WHAT WE WANT DECISION
PARALYSIS
WARNING:
YOU HAVE BEEN A PART OF
A SMALL BE EXPERIMENT
HEALTH HALO EFFECT
SO WHAT?
BE HELPS TO EXPLAIN
WHY WE SHOP & BUY THE THINGS THAT WE DO
WHAT INFLUENCES US IN OUR PURCHASING DECISIONS
HOW THESE AFFECT THE MARKET
HOW PEOPLE MAKE CHOICES
BE CAN HELP BRANDS
4P´s FB post
BE CAN HELP BRANDS
DRIVE ENGAGEMENT
DRIVE CONSIDERATION
DRIVE CONVERSION
DRIVE RESPONSE
DRIVE LOYALTY
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