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IIBMS DMS CASE STUDY SOLUTIONS-Write the factors that influence the behavior of an individual.docx
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Behavioural Science
Q.2 Case study
A new report released by AIM Research and Hansa Cequity studies how and to
what extent organizations in India leverage behavioural science and data science to
analyse consumer behaviour across different industries and functions.
The report titled “Impact of Behavioural Science and Data Science on Consumer
Behaviour” also dives into the connection between behavioural and data science in
comprehending consumer behaviour and makes a case for their use in collaboration.
Data science has seen increasing popularity in the last couple of years and is used
extensively by most organisations to identify growth drivers. While data is a critical
input to improve customer satisfaction and increase revenues, Behavioural Science
plays a crucial role in studying and analyzing customer experiences, brand loyalty,
and overall consumer journey.
According to the study, there is limited use of Behavioural Science techniques by
Indian organisations to study buying behaviour. Around one in five respondents
said they had none or rare utilisation, indicating a significant scope for
improvements across certain industries and functions, some more than others. This
includes studying consumers’ implicit attitudes towards the brand or analysing the
impact of celebrity endorsements, ethnocentrism, the social image of inclusion or
exclusivity, etc.
The report provides detailed insights through a comprehensive analysis of the
survey. The study highlights cases where the utilisation of Behavioural Science
could see improved outcomes if two functions within the same company worked
2. together. Along with this, the study identifies areas in which Behavioural Science
and Data Science can be used in conjunction.
The study can be used by leaders or decision-makers to get insight into where their
companies stand in utilising Behavioural Sciences compared to others and realise
areas where they are falling behind. The study also helps its readers identify future
roadmaps in terms of using Behavioural Science along with Data Science to their
advantage.
Overall, almost every Behavioural Science technique (surveyed) had more than two
in five respondents (40%) agreeing to its high/very high utilisation. Although,
almost every technique also had more than 20% who said they had none or rare
utilisation. Respondents in the marketing function had higher utilisation of most
Behavioural Science techniques surveyed than all the other functions. Almost every
technique had more than/around two in three (66%) Marketing respondents, saying
that they have a high/very high utilisation.
In terms of industry, different sectors had the highest share of respondents claiming
they have a high/very high utilisation of different Behavioural Science techniques.
However, Telecom & Media consistently performed well—almost every technique
had more than 50% of Telecom & Media respondents saying yes to utilising it to a
high/very high extent.
Questions
(10 × 2 = 20)
1. Write the factors that influence the behavior of an individual.
2. Discuss about the situation how behaviour science deals with consumer behavior.
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