Bertrand Russell once remarked, "It
has been said that man is a rational animal — throughout a long life, I have been
searching for evidence which could support this." Behavioral economics
tells us that, we may think of ourselves as rational, but our choices are
governed by systematic and predictable biases, as well as subject to change
based on the context and situation. In this seminar, we examine the key
concepts of behavioral economics from a perspective of understanding consumer
choices. The relevance of these ideas pervades nearly all areas of marketing –
from pricing, to communication to customer service. Daniel Kahneman’s
contribution to understanding judgment and decision making, which forms the
foundations of behavioral economics, was awarded with the Nobel Prize in 2002.
choice is all about judgment and decision making – and understanding the social
and psychological factors that influence brand choice is a must for every
successful marketer as well as marketing researcher.
Part I: Pricing Fundamentals
» Fundamentals: What is “price”, and its profound implication on pricing
» How much is your product/service “worth”?
» How do customers form their perception about “expensive” vs. “cheap”?
Part II: Pricing Research Techniques
» Techniques for pricing studies
» Indirect techniques to model customers’ trade-off patterns Part III: Pricing in Its Strategic Context
» Different motives for pricing » Pricing under different scenarios
Part III: Pricing in Its Strategic Context
» Different motives for pricing
» Pricing under different scenarios
Who Should Participate
The Westin Bund Center Shanghai
of Illuminera Institute.
Ashok heads the Illuminera
Institute, whose mission is to expand the frontiers of marketing research and
provide powerful insights and decision making support to marketing
He has previously headed custom
research business of GfK and TNS in China, leading teams of highly skilled and
experienced researchers to develop close and consultative relationships with
With over 30 years of
experience in market and social research - in China, Hong Kong, India and other
Asian countries, he has also worked as Regional Director for Best Practice and
Methodology and Head of Consumer Insights for Emerging Markets at TNS.
He has extensive experience in
both qualitative and quantitative research and in sectors as diverse as FMCG,
Finance, Healthcare, Telecoms, Automotive and social marketing and has worked
on a diverse set of projects focusing on consumer insights including the luxury
market, the digital evolution, retail trends, youth research and on consumer
trends in Asia.
Ashok’s has diverse interests,
which include statistical methods, behavioral
economics and ethnography. He is an active speaker on Asian and Chinese markets
and consumer trends at various industry and marketing forums and is a regular
contributor to the business press.
He writes a regular blog on
consumer insights: https://www.linkedin.com/in/ashokset/