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.
» Biases governing consumer choices under various conditions – how do these influence the choices of consumers, faced with a plethora of products, including some of dubious quality
» Experiencing self and remembering self – and implications of design of communications and consumer experiences.
» How the right “framing” can make all the difference to winning consumers and increasing their spends
» Design of pricing and promotions based on concepts of anchoring and framing
Who Should Participate
The Westin Bund Center Shanghai
Head 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 companies.
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 clients.
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/