Brands should leverage Behavioural Economics to understand their consumers

New Ideas in MarketingEssential news for marketers, summarised by YouGov
October 01, 2019, 11:41 AM UTC

Leveraging ethnography, along with Big Data, can help marketers truly understand their consumers.

Behavioural Economics can help brands comprehensively understand consumer behaviour and personas. To study consumers naturally without any intervention, brands should rely on ethnography and big data, which allows the study of cultures and people in their natural setting.

Marketers can use online communities to implement digital ethnography and glean insights into their consumer’s behaviour. This article states that along with ethnography, implementing the study of neurosciences can help brands correlate the emotional triggers that play a part in the decision-making process of the consumer.

Emotional research can help marketers design strategies and create emotional links with consumers that can lead to purchasing decisions. The author contends brands should work alongside researchers to develop experiential experiences that are emotion centric.

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