Applying Behavioural Economics to Real-World Challenges Seminar
Overview
Marketers know that if we were totally rational, we'd create a spreadsheet when we look for a new car to properly manage all the decision inputs, our spending and savings would be optimized to our retirement objectives, and we wouldn't be influenced by what else is on the shelf when we buy stuff. But we will buy a brand simply on a friend's endorsement (it's called bandwagon effect), we will carry a balance on interest-bearing credit cards while money languishes in non-interest bearing accounts (because of mental accounting), and we will often upgrade beyond our budget (in part because of anchoring).
Behavioural Economics is about the science of understanding why people make irrational decisions and the art of nudging their choices for a preferred outcome.
You Will Learn / Key Take-Aways
You Will Learn
In this hands-on workshop, you will learn about the powerful insights that Behavioural Economics has uncovered. We will discuss the experiments that have shown how we make the same mistakes repeatedly. Case studies will illustrate how you can apply Behavioural Economics to real-world challenges in the marketing world.
Key Take-Aways
- The Principles of Behavioral Economics
- The Concepts that explain how we think
- Understanding the simplicity of how simple changes can make a big difference
- A Deeper Look through interesting case studies
- Hands-On: Discussing a Choice Architecture Framework for your business
- Challenges
Who Should Attend
- Marketing and Sales Leaders who want to dig deeper into understanding what resonates with customers and prospects
- Product Managers & Strategists looking to design new ways to engage clients
- Client Knowledge & Insights Managers and Analysts who are interested in exploring the psychological underpinnings that drive behaviour
Instructor
Kelly Peters is the Managing Partner of BEworks, a leading management consulting firm that specializes in applying behavioural economics to real world challenges. The firm's internationally renowned thought leaders help companies optimize their business by providing insights into human decision-making and then framing a choice architecture to improve the bottom line. BEworks was founded in 2010 with behavioural expert and author of "Predictably Irrational" Dan Ariely, James B. Duke Professor of Psychology & Behavioural Economics at Duke University.
Dhushan Theravajah completed a Masters in Neuroscience, specializing in the study of brain activity during economic decision-making. His research focus was on how to learn appropriate strategies to evade exploitation by a competitor. Dhushan also earned an MBA at the Rotman School of Management. His previous experience at a marketing and design company focused on strategies to modify consumer behaviour.
Key Dates/Pricing
Date:
Thursday, August 15, 2013
Time:
9:00 a.m. – 12:30 p.m.
Location:
Advocates' Society, 480 University Avenue, Suite 1700, Toronto, ON
Rates:
CMA Member: $295 | Regular: $395
CMA Member, Team*: $245 | Regular, Team*: $345
*Three or more registrations must be received at the same time.