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Yale School of Management

Rethinking Marketing and Insights: Behavioral Economics Immersion

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Description

This three-day program is taught by distinguished faculty fellows of Yale’s Center for Customer Insights (YCCI) who have collaborated with industry leaders to develop a rigorous, hands-on curriculum grounded in a behavioral economics framework that produces results.

Marketing and product departments spend billions to understand and influence consumers — with mixed results. Behavioral economics brings to bear behavioral science research to better understand the often-hidden factors that really drive consumer behavior. Working shoulder-to-shoulder with marketing and insights leaders from organizations like P&G, IBM, Visa, Google, PepsiCo and American Express, our team understands today’s consumer insights needs — from foundational understanding to hot-off-the-press tools and systems.

What to expect?

Learn how to drive better business results using cutting-edge behavioral research to:

  • Better frame your value proposition
  • Understand conscious and unconscious choice drivers
  • Design memorable customer experiences
  • Redesign research practices to generate real consumer insights
  • Learn how to become an effective test and learn organization

Learning outcomes

MASTER BEHAVIORAL ECONOMICS WITH LEADING YALE SCHOLARS AND LEARN HOW TO DRIVE BETTER BUSINESS RESULTS USING CUTTING-EDGE BEHAVIORAL RESEARCH

1.) Lead your organization informed by new ways of thinking about consumers based on the latest behavioral science research—uncovering the real drivers of consumer choice. • Recognize the different drivers—beliefs and goals—that underlie your consumers’ brand and product choices. • Dive deep into how your consumers’ brains work in intuitive and reflective ways.

2.) Develop a deep understanding of how behavioral economics can immediately help solve pressing business challenges. • Engage with consumers along the decision journey armed with a deeper understanding of what the choices they’re making along the way. • Discover a behavioral economics approach to framing value to better communicate the benefits of a product or experience. • Learn how key points associated with consumers’ memory—like peak moments and duration—can influence their experience.

3.) Champion a culture of experimentation throughout your organization based on test-and-learn theory and practice. • Rethink your consumer-research practice by integrating behavioral understanding with the traditional and non-traditional methodologies you’ve been using. • Practice a test-and-learn approach on your firm’s own most pressing research questions.

Curriculum

DAY 1: The Foundations of Behavioral Economics

A HIDDEN SYSTEM OF DECISION-MAKING LIES BENEATH OUR AWARENESS. DAY 1 WILL GIVE YOU FUNDAMENTAL KNOWLEDGE ABOUT THE SOMETIMES-SURPRISING WAYS IN WHICH CONSUMERS DECIDE WHETHER TO BUY, WHEN TO BUY, AND HOW MUCH TO CONSUME.

  • Session 1: A Behavioral Economics Framework: Beliefs, Goals, and Choices
  • Session 2: A Two-System Theory of Choice
  • Session 3: Designing Choice Architecture
  • Session 4: Framing Brand Value

DAY 2: Putting Behavioral Economics to Work

IN THE SECOND MODULE, WE TURN OUR FOCUS TO HOW THE LATEST IDEAS FROM BEHAVIORAL ECONOMICS CAN BE USED TO SOLVE YOUR MOST PRESSING BUSINESS CHALLENGES.

  • Session 5: Framing Price
  • Session 6: Understanding Consumer Experiences
  • Session 7: Communications: Mindsets and Self-Control
  • Session 8: Overcoming Consumer Inertia to Choice

DAY 3: Learning A Better Way To Learn

BEHAVIORAL ECONOMICS CAN HELP YOU NOT ONLY UNDERSTAND WHAT CONSUMERS DO, BUT IT CAN ALSO SHOW YOU HOW TO LEARN ABOUT WHAT THEY DO. THE FINAL MODULE FOCUSES ON THE LESSONS OF BEHAVIORAL ECONOMICS FOR CONDUCTING MARKET RESEARCH AND EXPERIMENTATION IN ORDER TO BUILD A RENEWED CULTURE OF EXPERIMENTATION.

  • Session 9: The Value of Experimentation
  • Session 10: Designing Experimentation
  • Session 11: Behavioral Lens on Consumer Research

Who should attend

The program is crafted for executives with at least 10 years of experience who lead functional teams in such areas as marketing, branding, insights, innovation, product management, digital, strategy, and communications.

Experts

Professor Dhar is the George Rogers Clark Professor of Management and Marketing & Director of the Center for Customer Insights. He is an expert in consumer behavior and branding, marketing management, and marketing strategy and a leader in bringing psychological insights to the study of consu...
Professor Frederick''s research focuses on preference elicitation, framing effects, intertemporal choice, and decision-making under uncertainty. Before coming to Yale SOM he was associate professor of management science at Sloan School of Management at MIT. Prior to MIT, he was a research associa...
Professor Novemsky is Professor of Marketing in the Yale School of Management and has an appointment as Professor of Psychology in the Department of Psychology at Yale University. He is an expert in the psychology of judgment and decision-making, an area that overlaps heavily with behavioral econ...
Zoë studies persuasion and decision making , working passionately to understand how people can lead happier, healthier, more fulfilling lives. At Yale, Zoë teaches Mastering Influence and Persuasion, advises Center for Customer Insights consulting and research teams, and collaborates with Google ...

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