Behavioral Economics

Fast reactions are essential when it comes to marketing and consumer behavior analysis. Quick analysis and on-time decisions can really change retail operations, giving a considerable competitive advantage over the rest.

Analyzing campaigns with behavioral economics

is another interesting area where RPA can be used with great benefit, helping marketing people make adequate informed decisions. This will bring clarity in determining goals, budgeting and identifying specific channels for improvement.

The best result is that RPA can repetitively perform past actions in the future without manual effort or mistakes. RPA can also be tweaked to help with measuring the effectiveness of new strategies.

Categorization of products

is quite important but often ignored in the retail industry. Customers quite often struggle and get discouraged when failing to find different products online, because of poor product categorization. RPA can integrate with inventory databases, assigning attributes and categorizing products for improved customer experience.

Effective trade promotions

can be supercharged by combining RPA and consumer behavior analysis, store planning, new product introductions, customer on-boarding from websites, managing subscription renewals, claims processing, complaint handling and loyalty card management to state a few.

To enrich the marketing spectrum, we add Behavioral Economics as a science to build the marketing strategies and analysis, taking into consideration the emotional and irrational consumers’ decision in the buying process and the choosing of different products. The way in which the product choices are framed and presented to the buyer influences the purchase models.