Behavioral Economics Immersion, Yale Center Beijing
Counts towards 3 Certificate of Excellence in Global Business credit days.
Marketing and product departments spend billions to understand and influence consumers—with mixed results. Behavioral economics brings to bear psychology, economics, and marketing to better understand the often-hidden factors that really influence consumer behavior.
Presented by Yale School of Management, 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 agenda grounded in a behavioral economics framework that produces results.
Who should attend?
The immersion 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, technology, strategy, and communications.
Yale School of Management faculty help industry leaders apply the most advanced understanding of consumer choice in today’s fast-changing marketplace. Having worked across industries and sectors for over a decade, the faculty team behind Yale’s executive program, Rethinking Marketing and Insights: Behavioral Economics Immersion, deeply understand the real, immediate problems of the marketplace and how to implement a Behavioral Economics approach to solve them. But what is Behavioral Economics? Professor Nathan Novemsky explains in this video.
ENGAGE WITH WORLD-RENOWNED SCHOLARS OF BEHAVIORAL ECONOMICS
Among the most productive and cited scholars in the field, the YCCI faculty team utilizes decades of cutting-edge research to help address the challenges of today’s marketing, innovation, and research organizations.
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 consumer decision-making.
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.
What to expect
Return on Learning
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.
Develop a deep understanding of how behavioral economics can immediately help solve pressing business challenges.
• Engage with consumers along the decision-making journey armed with a deeper understanding of what choices they are 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.
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.
Praise from Prior Participants
Leaders from the consumer packaged goods, technology, finance, healthcare, and B2B industries give high ranks to the program across the board:
“The BE Immersion Program was more valuable than the two years I spent getting an MBA. BE has changed economics.”
“Good quality and content. Loved that all three professors participated throughout.”
“After close to a decade in research and consulting, many puzzling areas of consumer insights became clear and actionable for me from the Behavioural Economics Immersion program. Through engaging lectures, industry examples, and break-out exercises, Professors Ravi Dhar and Nathan Novemsky brought learning and application together in a profound way. I now look forward to experimenting with and implementing new-found concepts, frameworks, and tools in my work to enhance project approaches for today's leading brands.”
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.
- A Behavioral Economics Framework: Beliefs, Goals, and Choices
- Choice Architecture and the Theory of Choice
- Designing Satisyfing Customer Experiences
- Goal Activation and Receptivity
- Motivation: A Contextual Perspective
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.
- Framing Brand Value
- Framing Price
- Designing Effective Value and Pricing Frames
- Communications: Mindsets and Self-Control
- Overcoming Consumer Inertia to Choice
DAY 3: Learning a Better Way to Learn
Behavioral Economics has implications not just for what consumers do, but for 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.
- Value of Experimentation
- Designing Experimentation
- Behavioral Science Lens on Consumer Research
- Designing a Useful Test