Step by step, behavioural economics, and psychological science have expanded their reach to become an established part of the business, policymaking, and regulation – for anyone seriously interested in both understanding and changing behaviour. And within marketing and market research, behavioural economics has become a required area of expertise and competency. We are now witnessing the next big step – the creation of the role of the Chief Behavioural Officer (CBO). This move will ensure that behavioural science has a voice at the highest level inside companies and institutions, a clear demonstration of the impact and value it is generating.
In this article, we look at how, within the last decade, this has become the new reality. We identify two main drivers and examine how behavioural science is increasingly being factored into everyday business, policy decisions, and common practice. First, though, we take a closer look at the trend of the CBO role and in-house behavioural insight teams.
Author: Crawford Hollingworth
Published by: The Marketing Society UK
Date: 1 December 2014
Cover image by Thomas Angermann under Creative Commons License.
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