How Does Visual Framing Impact Customer Orientation Approach in Behavioral Economics? Behavioral economics suggests that the way information is presented can greatly influence our decisions and judgments. Additionally, people often categorize their money into different mental accounts which can impact their spending behavior. For example, during the Iranian holiday of Yalda, people set aside a budget for purchasing goods such as nuts, but if they overspend, they may be more likely to cut back on other purchases.

To address this challenge, we suggested that Hosseini Brothers launch a campaign called “Economic Nuts”. This campaign utilized the concept of mental accounting and choice architecture to manipulate the presentation of different options, ultimately impacting the purchasing decisions of consumers. The campaign didn’t reduce the price of the products, but rather offered packages with different framing methods. The results showed an increase in both product purchases and social media engagement, with higher impressions and likes.

If you are interested in learning more about mental accounting, it would be helpful to read the article by Richard Thaler, a renowned behavioral economist who won the Nobel Memorial Prize in Economic Sciences in 2017 for his contributions in the field of behavioral economics and finance. He is known for his work on mental accounting and how it affects people’s spending behavior.