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The Benefits of Applying Behavioural Science to Business

How to Get the Most Value from Behavioural Science

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Applying Behavioural Science to the Private Sector

Abstract

Chapter 9 is about the value of applying behavioural science in the private sector. It describes how managers in consumer-facing and business-to-business sectors can get value from its application, and how students of psychology and business can learn to apply behavioural theory to real-world problems. This chapter reprises the main themes of the book. First, if businesses apply the scientific method to understanding consumers and customers, they are more likely to know what is really driving behaviour, and hence be able to design products, services and interventions that better meet people’s needs. Second, using a structured, evidence-based approach helps to navigate complexity and saves time and money in the long run. Finally, incorporating behavioural science into a commercial organisation can be highly beneficial if the company is clear about how it will add value and has a plan for how to introduce it.

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Notes

  1. 1.

    Spillovers occur because behaviours do not occur in isolation and ‘spill over’ to influence other behaviours. This can be good—‘I exercised this morning, so I will eat more healthily’ or bad—‘I exercised this morning, so I can eat more chocolate’. Behaviour change always occurs within a specific context and if this is not fully understood there can be unintended (and sometimes negative) consequences.

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Rubinstein, H. (2018). The Benefits of Applying Behavioural Science to Business. In: Applying Behavioural Science to the Private Sector. Palgrave Pivot, Cham. https://doi.org/10.1007/978-3-030-01698-2_9

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