Marketing, in particular, begins and ends with the consumer – from determining consumer needs to ensuring customer satisfaction. In this course, we will explore the most recent scientific research in marketing, psychology, and behavioral economics on judgment and decision making. We will develop your ability to understand and influence what people want, how people decide what and when to buy, and whether people will be satisfied or dissatisfied with their decisions. These psychological insights are particularly useful for marketing strategy, brand positioning, and marketing communication decisions, but also yield insight into common biases in judgment and decision making, beyond marketing, to which you would otherwise fall prey. Why people are willing to drive across town to save $5 on a tank of gasoline, for example, when they would not drive a minute to save $5 on a refrigerator.
This graduate course examines the affective, cogntive, and motivational processes involved in human judgment and decision making. We also examine the accuracy of human judgment and decision making. Class meetings include a mixture of lecture and discussion, with a strong emphasis on discussion. Students learn to critically evaluate advanced theories and research, and to carefully articulate those critiques orally and in writing.