Talking Stick Resort
9800 E. Indian Bend Road
Scottsdale, AZ 85256
Thursday, October 25, 2012
QUANTIFYING SUBPRIME CONSUMER PSYCHOLOGY: IMPLICATIONS FOR OPERATIONAL STRATEGY
Millions of U.S. households continue to be challenged by chronic and mounting debt, a problem likely rooted in specific psychological factors. To better understand these factors, we conducted a series of behavioral experiments that quantified differences between prime and subprime consumers (including cognition, preferences, and temperament).
Through novel research, we endeavor to improve the ways in which we communicate with consumers and discover new ways to promote their financial recovery. We describe several implications for business strategy, specifically in the context of marketing and call center operations, and provide direction for future applied research.