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Thursday, September 06, 2018

Designing Marketing SolutionsWhen behavioral economics meets design thinking

Contact
Yan Xu

Tel: 8621 6360 8005

Email: Yan.Xu@illuminera.com

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Overview

Designing effective marketing solutions relies on two important processes--understanding and diagnosing the current situation and designing the solution to achieve the desired results. This seminar uses two of the most powerful tools to govern these processes:


» Behavioral Economics to understand the current behavior and identify the psychological, social or neurological factors which determine the behavior

» Design thinking for designing the choice architecture to nudge the consumers in the desired direction by overcoming the resistance points and leveraging the possible motivations


Behavioral economics is a multi-disciplinary field to understand decision-making. We tend to believe that consumers make decisions through deliberate and elaborate evaluation of options before them. Hence, we design solutions to bombard them with information based on which we expect they will make the right choice and choose our brand. Behavioral economics tells us that consumers seldom do a complete and rational evaluation of the options they face--they neither have the inclination nor the ability. They make decisions Eased on heuristics and short-cuts, which have been programmed in their mind through the forces of psychology, sociology and neuroscience. Hence if we want to change their behavior we need to understand and address these.


Design thinking is a creative and co-creational process that helps us design the choice architecture, so that we can help the consumer navigate to the right choice, i.e. adopt the behavior that we desire. Design thinking is not just for designers--but everyone who wants to influence a behavior or a choice. The results of design thinking are not just in the form of clever communication, but could impinge on any area of consumer journey or experience, where the marketer has an opportunity to influence the consumers.

 

The combination of behavioral economics and design thinking is a potent combination to achieve the desired marketing results--whether it is to win more consumers, persuade them to use the product more often or achieve higher levels of compliance. Familiarity with these two concepts, and expertise to make them work in a symbiotic manner, are a must for any marketing professional.

Program

Key concepts of behavioral economics:

» The “rational choice model” and its limitation
» System 1 and System 2

» Heuristics and biases

» Framing and Priming

» Anchoring


The process of design thinking

» The overlapping and iterative steps of exploration, discovery, creation and implementation
» Understanding co-creation

» Using visual thinking and prototyping

» Convergent and divergent thinking

Who Should Participate

Senior Marketing professionals

Venue

Shanghai, venue to be confirmed later

Speaker

Ashok Sethi, Head of Illuminera Institute

Adele Wu, Director, IlluminHealth

Claire Zhang, Head of THREE INNOVATION

Register