Our aim is to provide knowledge and solutions that withstand the real world. That's why we opted to work with Behavioral Economics.
Classical market research often deals with the customer’s cognitive evaluation of a certain topic. It asks, "What do you think of...? "Would you buy the product,..." etc. The classical research enquires about the customer’s rational evaluation, under the assumption that this evaluation alone - or at least a decisive part - induces the future behavior.
"A lot of what economists think is irrational behavior – is in fact really intelligent. What people do is they use heuristics to minimize the downside variance and to optimize the optimal outcome."
Rory Sutherland, VP Ogilvy
We know that's not true. People often behave irrationally and seemingly illogically. That’s the truth. The good news is that irrational doesn’t mean completely unpredictable. Because your customers use the same "behavioral short-cuts" again and again to achieve their goals. These behavior patterns can be recognized very well with the behavioral economic effects, and as a result we can predict what the next step will be.
What's more, with our knowledge of behavioral effects, we have tools to hand with which we can build solutions that are highly likely to strike home. We don’t just know why your customer behaves like this, but also what needs to be done to make your product fit better to the customer's behavior, and then become his first choice.
"Logic and utility theory are beautiful mathematical theories, but they don’t describe how most of us actually make decisions."
Gerd Gigerenzer, "The Godfather of Heuristics"
It’s crucial that we make the research setting as realistic as possible. That’s why we prefer research approaches that measure in the real environment, or where reality is simulated as much as possible to ensure accurate analyses. In some fields, it’s already possible to conduct reality research before a launch, i.e. in real time, without this being publicly visible to customers or competitors.
We have developed a process to provide reproducible and systematic findings and solutions that withstand reality.