The automotive industry is undergoing significant disruption as private car ownership continues to decline partially caused by the rise of shared mobility in many parts of the world. In these new ecosystems, the touchpoints with end-customers is quickly shifting away from automotive aftersales service providers (OEMs). The market is rapidly shifting from B2C to B2B2C and OEMs must shift now to take advantage of new ecosystems to survive.
It is no secret that the science of decision-making has been deeply impacted by behavioural principles in recent years. We spoke with Professor Ivo Vlaev about the mainstreaming of behavioural economics and why corporate strategists should embrace its powerful insights.