Belief Systems, Religion, and Behavioral Economics: Marketing in Multicultural Environments

Religion is a topic that businesses often ignore, in spite of 70% of the world being religious. Many do not realize (or resist) the idea that religion is a key contributor to a consumer’s core values, which then contributes to consumption decisions, voting practices, reaction to pro social messages and public policy, as well as donating behavior.

The field of behavioral economics discusses how various social and cognitive factors influence economic decisions, which encompass consumer decisio...