Emotions + Decision Making
How people (and consumers) make decisions is not perfect. We use mental shortcuts and make lazy decisions in many categories, even those that represent significant financial cost to us. The perceived rationale decision making which is often put forward as fact needs to be understood on a more real world human level. Emotion and how we make snap judgments play significant roles in the ultimate choices which are made by consumers, and indeed businesses.
Ignite have invested heavily in exploring and refining our understanding of human decision making through Behavioural Economics (BE). The entire Ignite team have undertaken an extensive training programme in BE which allows us to get the real drivers in decision making and identify what really motivates consumers, rather than what we rationally expect.
How It Works
Ignite have a specific approach to immersing in a category and your segments for BE – our BE labs. We start with an exploration phase to develop BE hypothesis for your category and consumers. We then importantly quantify the impact of these hypothesis using our carefully designed set of BE questions. These BE questions have been designed and refined within Ignite, and are proven to deliver sharper insights within categories and consumer decision making.
The hypothesis are defined specifically around decision making and BE psychology. Whether a hypothesis is proven to be true or false, there is insight in this understanding which will add clarity and impact to business decisions which are informed by our BE labs – it’s not about proving/disproving a hypothesis but measuring the impact that it has on consumer decisions and getting a deeper understanding about how we really make decisions, rather than how we think we make decisions.
Our labs develops plans not Powerpoints.
We work to provide conversations and dialogues between all stakeholders underpinned by robust data collection and analysis.
Whether it is a half-day workshop or one to one client meeting, our labs output focuses on providing actionable results built on strong behavioural economoic theory.
We believe that this is also an on-going project, that initial hyhypothesis should be tested and stretched on a frequent basis to ensure that our understanding of the market stays up to speed with consumers.