20 Oct How Behavioral Science Affects Marketing
What is Behavioral Science?Behavioral Science allow us to track down, analyze, and understand our decision making process and the criteria through focusing on physiological and economical perspectives. Marketing activities either directly or indirectly influence your buying decisions. So whenever you pick up that piece of fruit in the grocery and ponder on whether or not it is worth to get, that’s the science affecting your psyche. According to the Behavioral Sciences and Marketing Research, “Numerous behavioral studies in recent years have revealed consumers’ limited rationality and show that even seemingly irrational behavior follows certain patterns and rules.” As a result, applying psychological findings to marketing and pricing measures offer the most profitable opportunities. Helping to predict purchase behavior allows for more precise ideas. Not only that, one will be able to target consumers more effectively. In order to create a marketing plan based on behavioral science, they have to ask questions in order to get the answers they need:
- Which psychological effects are more important and prioritized?
- How can those effected implement to existing marketing efforts?
- Do we need to create new strategies and promotions?
- When are the best times to launch those activities?