In simple words behavioral economics emphasizes to a greater extent on how we behave rather than what we say or think.Hence behavioral economics can adjust and manipulate a person’s behavior.
Behavioral economics gives insights to devise methodologies that are effective and cost friendly to achieve the desired consumer behavior.
This would involve understating and acting upon on the authentic beliefs at the right moments.Beliefs about a product can be the stimulating force for not only the predictions about the products but the actually experiences that consumers attain after using the product or service. The challenge for us is not only on product enhancements through research and development but also managing and influencing consumer beliefs.
Behavioral Economic thus is a vital aspect in understanding what drives in consumer actions/decisions.
Two of our main offerings are Promo Track Leaflet tracking and retail Zoom Store DiagnosticsTo start with, we have Promo Track Leaflet tracking which provides retail promotions intelligence via its proprietary based software and retail Zoom Store Diagnostics which measures the incidence of product promotions and prices at the retail level. Initially our area of operations includes UAE and Saudi Arabia and plans are in place to expand our footsteps into other GCC markets as well. As an offshoot we are keen to also provide services related to shopper insights, outlet census and at some point retail audit as well.
We do this by keeping ourselves up-to-date with fast-moving retail and consumer trends.We study all spheres of retail including multichannel, omni-channel, online and mobile. We pay attention to automation and personalisation, cultural, urban and societal change.
... we can evaluate, question, test and assess data to convert them into powerful information.And this powerful information is handed to you for your decision making process.
Find out what your customers really feel about your brandA leading CPG globally wanted to decode the consumer sentiments expressed on social media around a new brand launch, to drive greater traction and growth for the brand across the Middle East.
Find out how arab consumers process advertising An insightful document based on Neuromarketing principles on how Arabs process advertising content. The results are constantly monitored with a set of panel of Arab consumers
By 2018, Internet advertising will be poised to overtake TV as the largest advertising segment.Internet advertising revenue will rise at a 10.7% CAGR to reach US$194.5bn in 2018, just US$20bn behind TV advertising. Of the US$241bn growth in total consumer and advertising revenue between 2013-2018, US$157bn will come from digital sources. B2C product marketers expect social media to make up 24.4% of total marketing budgets within 5 years. Traditional Methods are Pen and Paper Surveys, Focus Groups/ Depth Interviews. Whereas the Emerging Technologies are Social Media and Text Analytics, Neuro-marketing and Mobile Research
Depending on the depth of information needed, there are 3 offerings around Social Media Sentiment Analysis:
Start with focused Hashtags, Keywords, affiliated terms.Output will multiply as there will be a large number of comments but low on relevance. We need to expand search to include related keywords. This query should give robust number of relevant comments. We will look at both sets of outputs to come up with optimal query. This process is repeated till optimal number of comments are extracted
The feedback/mentions present online is more authentic and has greater scope for feeding back into marketingkey objective though is ‘mine’ to derive insights from YouTube, Twitter, Instagram, Facebook and Forums
Market research exists to guide your business decisions by giving you insight into your market, your competitors, your products, your marketing and your customers.By enabling you to make informed choices, market research will help you to develop a successful marketing strategy. And ultimately influence behavior of your target customers.
Market research will enable you to make informed choices, to develop a successful marketing strategy.