Behavioural Economics Approaches Enhance Outdoor

November 17, 2015 Nemes Random

A research study has exposed that consumers who were revealed various poster treatments, using various mixes of rational and psychologicalsob stories and behavioural economics concepts, reacted best to a poster that made use of the behavioural concepts of loss hostility (fear of missing out on out) and scarcity (item just offered for a restricted time). That poster reportedly created 154 trials of an item– edible bugs– over the two-hour duration that it was shown, compared to 67 for a more standard poster that made reasonable appeals, and 34 when there was no advertising at all.It was likewise concluded that the visual nature of the poster supports the concept that images are processed more quickly and automatically than text.The research was brought out in a shopping centre by outside specialists Kinetic Worldwide in partnership with Ogilvy amp; Mather’s behavioural economics device, #ogilvychange, media service provider JCDecaux and edible bug producer Grub.More info on the experiment can be found here.

Economics,

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