VR for marketing research

Lieberman_VR1

The Inexorable Intertwining of Two Disciplines

I started my career in market research 20 years ago. At that time, behavioural economics was, at best, confined to a basic understanding of low and high involvement processing in advertising theory. At worst, it was an unknown term, relegated to the academic corridors of Ivy League Universities. Fast forward 20 years and cue a well-deserved Nobel Prize for Daniel Kahneman, whose seminal book, Thinking Fast and Slow, paved the way for an epiphany amongst the marketing research community where we all realized, unequivocally and incontrovertibly, that we need a much better grasp of how consumers – people – really make decisions. The paths to decisions are messy, indeterminate, prosaic, sometimes contradictory, change according to circumstances, and do not lend themselves to easy explanations. ….[READ]

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