N A
E V I T
A N R E
T L A
Introduction to Behavioural Science
Red Hot or Red Herring: Seven principles of behavioural economics Source: Warc Exclusive, June 2015 Downloaded from warc.com
Not a subscriber? View this report here This article draws from findings in 'Behavioural Economics in Action: Strategies and Insights from the IPA Effectiveness Awards', a best practice guide that provides tangible examples and top tips on how behavioural economics can creatively solve business problems. Seven aspects of behavioural economics are highlighted, each linking to related IPA Effectiveness Award case studies. The principles that marketers can use include loss aversion, the power of now, scarcity value, goal dilution, chunking, price perception, and choice architecture.
Nick Southgate Behavioural Economics Consultant
Efficiency
Social beings
Efficiency
Signalling & Distinctiveness Social beings
Efficiency
Signalling & Distinctiveness
Satisficing Social beings
Efficiency
Signalling & Distinctiveness
Social beings
Satisficing
Teenagers
The Workplace
PLACEBOS
THANKS FOR LISTENING