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Behavioral Economics (Virtual Classroom) - 50% off*

Institute of Data & Marketing
Course summary
1 day
450 GBP excl. VAT
English
Full time
Online courses
Next available date: 19/10/2021 - Online courses
Last application: 05/10/2021
Professional Training

Course description

Behavioural Economics (Virtual Classroom) - 50% off*

A practical guide to harnessing irrational consumer decisions and making them, if not entirely predictable, then far more intelligible using Behavioural Economics principles.

Suitability - Who should attend?

This course is designed for:

  • Marketers with little or no knowledge of Behavioural Economics
  • Anyone involved in planning and developing marketing communications

Taking this course will give you the theoretical and practical underpinning to turn the marketing unpredictable into the predictable.
You will add the ability to predict patterns of behaviour and habits to your strategic toolkit.

Outcome / Qualification etc.

During this course you will learn to:

  • Use the principles of Behavioural Economics to develop frameworks for research and planning
  • Change the context in which you present choices to consumers
  • Develop messaging that influences patterns of consumption
  • Build messaging that nudges people to make more profitable decisions
  • Identify and modify consumption habits and patterns
  • Understand the power of the default option
  • Understand how 'mental accounting' affects decision making
  • Make 'irrational' consumers more predictable

Training Course Content

Introduction to Behavioural Economics

  • Major principles: heuristics and biases
  • History, context and background
  • BE’s place in the boardroom
  • Why now?
  • Heuristics, biases and principles


Thinking Styles and Perception

  • Thinking fast, thinking slow - systems thinking patterns
  • Choices
  • ‘Two selves’
  • Decoding the interface
  • Neuromarketing: what neuroscience adds to the BE toolkit
  • Recognition of perceptual cues
  • Context - what it stands for


Motivations and Incentives

  • ‘Natural’ theories of motivation
  • Rational motivation
  • Incentive theory - intrinsic and extrinsic motivations
  • Behaviourist theory
  • Socio-cultural theory
  • Attribution theory
  • ‘Crowding out’


Framing/Reframing

  • ‘Autopilot’ frames our experience
  • Alternative framing or reframing – strategy and tactics
  • The aims and goals of reframing
  • Case studies


Choice Architecture

  • Advertising and social proof
  • Distinctiveness
  • Reducing the ‘pain of payment’
  • Mood
  • Expectancy theory
  • The Terrible Curse of Knowledge


Social Influences and Habit

  • Trust and reciprocity
  • Cooperation, punishment and social norms
  • Cultural innovation strategy
  • ‘Identity’
  • ‘Herding’ and social learning


The Consumer Decision Journey and Goals

  • How the decision journey has changed
  • Touchpoints and time
  • Using BE to analyse and modify consumer decisions
  • Implicit and explicit goals
  • Habits
  • Goal value and mapping


Behavioural Economics Workshop

  • Asking the right questions
  • Breaking down barriers
  • Comparisons and efforts
  • Saying the ‘right thing’
  • Generating solutions

Course delivery details

Virtual Classroom: Tutor-led, live, online classroom environments

Why choose Institute of Data & Marketing

Over 30 years experience as a leading awarding body for qualifications in data & digital marketing

Over 100,000 people have attended our courses

Over 15,000 marketers have earned a professional certification with us

Expenses

*50% off all Learning – only for the first 500 IDM Members who apply for this subsidy.

Members: £225 + VAT

Non-members: £450 + VAT

Enquire to become a member & benefit from the member subsidy.

About provider

Institute of Data and Marketing

IDM is the trusted training partner for hundreds of leading brands, from over 30 countries. For more than 30 years they’ve trained over 100,000 delegates, helping them improve their marketing performance, from their first steps on the career ladder to...


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Institute of Data & Marketing

DMA House
70 Margaret Street London
W1W 8SS

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