The Nudge Thinking and Its Application With Marketing Strategies Based on Big Data: A Review

Introduction

In terms of current affairs, it can be said that one of the constants is precisely change. If we talk specifically about the business world, digital marketing has made it possible for organizations to know their audience and have more information to be able to respond to their desires and motivations, something very costly before and that is another revolution within the entire current business system. This possibility of knowledge and data is closely related to innovation and drives to define current and future needs, breaking the paradigm with what was done before. In this way, new experiences are offered to users, thus being able to obtain greater success and a lower percentage of risk, giving rise to new consumer trends (Alam, & Patwary, 2018).

Within this context it is understood that the strategies of companies have been helped by each of these changes and evolutions that have been happening in the world of marketing, being able to incorporate both theories and technologies, to reach their goals in an optimal way. From always in the history of the human being, and consequently, its day to day, has been determined by the constant decision making that must be executed throughout a day. Nowadays, this decision making has been exponentially increased due to the great amount of options that exist. This point affects the day to day with seemingly simple decisions such as the choice of the time you get up, what coffee you drink, what type of transportation you use, what you eat, and so on and so forth. Therefore, this decision making absolutely affects the commercial level, and that is where companies, due to the current high level of competition, can and should take action to motivate the sale of a particular product or service. Consequently, this decision making is also reflected in the work environment, both at a personal level with the actions of each of the employees, as well as with the joint decisions taken as a company or organization (Palos-Sanchez et al., 2019).

This research aims to shed light on a topical issue that is important for companies to delve into, thus being able to benefit from its results. There is a branch of economics, behavioral economics, which, in spite of being relatively modern, is already considered consecrated by the great social acceptance it has worldwide. This branch bases its studies on establishing general patterns in reference to the behavior of human beings (Pardo, 2017), taking as a starting point the psychological, cognitive, and social factors, which directly affect the making of one decision or another. In this way, it is possible to predict the behaviors of individuals and to act and create strategies accordingly. It is within this aspect (Pedwell, 2017) of behavioral economics that the Nudge Theory emerges, thanks to Sunstein and Thaler (Thaler & Sunstein, 2008). This nudge theory was born in 2008, which places it in a modern context in which individuals are considered to possess bounded rationality. This bounded rationality is conditioned by everything that human beings receive before making one decision or another, being in constant contact with other human beings, with technology, devices, use of social networks (Luqman et al., 2021) and advertising and marketing strategies that constantly issue opinions and information. Thus, it is understood that, in order to make an optimal decision, the individual should be exclusively rational and always have very rigorous information (Ribeiro-Navarrete et al., 2021).