The slides are prepared by our advisor, Datuk Dr. Leow for a group of Master students in a university. Consumer behavioura is unique and let's learn from the expert.
2. Datuk Dr. Leow
Chee Seng
• Advisor, Humanology Sdn Bhd, Malaysia
• Productivity Champian, Malaysia Productivity Corporation
• Jawatankuasa Pemantauan Nexus Productivity Perkhidmatan
Profesional
• Technical Expert, Behavioural Insights, Malaysia Productivity
Corporation
• Honorary Professor of Nguyen Tat Thanh University, Vietnam.
• Panel of Expert of Sandikta College of Administrative Science,
Indonesia.
• Body Language Analyst for South China Morning Post, Hong
Kong
• Journal Editorial Board – Sit in more than 10 International
Journal
• Book Writer
– Body Language Exposed: Never Get Lies Again
– Trapping the cunning fox: Lie Detection
– Selling with Heart and Soul
– I see, I hear and I conquer: Human Leadership
– Flintstones Management: Compassionate Management
– Nudge or Fudge: Application of Behavioural Economics
– The Humane Way: Being Humane is Humane Being
– Predictable Accident: Nudging Into Safety and Health
8. Consumers are Illogical
Nature of Consumers
Consumers Love Feel
Good Factors
Consumers are Emotional
Consumers Wish to be Special
Consumers are greedy
Consumers can be Nudge Easily
26. Marketing Campaign
Campaign A:
• “If you change to LED light, you will
save RM2000 a year”
Campaign B:
• “If you do not change to LED light,
you will lose RM2000 a year”
Which campaign will be more
effective?
27. the US is preparing for the
outbreak of an COVID-19,
which is expected to kill
600k people.
Choose a program to
address the problem.
Tversky, A. & Kahneman, D., 1981, The framing of decisions and the psychology of choice. Science, 211, 453-458.
72% A: 200k people will be
saved
B: 1/3 chance that 600k
people will be saved. 2/3
chance that no people
will be saved.
28%
28. Imagine that the US is
preparing for the outbreak
of an COVID-19, which is
expected to kill 600k
people.
Choose a program to
address the problem.
A: 400k people will die.
B: 1/3 chance that nobody will die.
2/3 chance that 600k people will
die.
22%
78%
Tversky, A. & Kahneman, D., 1981, The framing of decisions and the psychology of choice. Science, 211, 453-458.
29. A) A sure gain of
$240
B) 25% chance to
gain $1000, and
75% chance to
gain nothing
A) A sure loss of
$750
B) 75% chance to
lose $1000, and
25% chance to
lose nothing
Tversky, A. & Kahneman, D., 1981, The framing of decisions and the psychology of choice. Science, 211, 453-458.
We are less
likely to
risk to get
an extra
gain
We are
more likely
to risk to
avoid a
sure loss
Choose
