MKT42210 Behav Insights Value Creation

Academic Year 2021/2022

The objective of the module is to understand and predict consumer decision making. In particular, I focus on behaviour that is predictably irrational. For example, people are far more likely to travel for twenty minutes in order to save €5 on a €15 jacket than they are to save the same amount on a €125 jacket. Why are people inconsistent in the value they place on €5? What implications does this have for your marketing strategy? This course will give you the tools to answer questions such as these.
You will read and discuss state of the art experiments from top journals in marketing, psychology and economics that elucidate biases in decision making. You will also learn how to conduct your own experiments so you can predict consumer behaviour. You will be working with quantitative data in this course, and will be taught all the statistics you need to know in lectures.
The tools you acquire in this course will be useful throughout your career. In an age where companies can experiment on their online customers with a stroke of a keyboard, this material has immediate applications in business. The course might even prompt you to recognise biases in your own decision making.