Nudge applications in consumer socialization of children

A child's thought process is sculptured by the factors that are found typically in the environment; where he/she grows up. Hence the efforts of marketers are directionally focused on creating an environment in order to facilitate the consumer socialization of children. Recently nudge strategies have also attracted the attention of researchers and policymakers because of their potential in influencing the behavior of individuals. By adopting and utilizing review of existing literature, this perusal attempts to analyze the socialization process through facets of behavioral economics, to “nudge” children towards a consumer-specific behavior. The study also intends to facilitate marketers in framing the right strategy, while deciding on the content of their promotions. It facilitates advertisers to have a better understanding of a child's cognitive abilities, the perception of advertisements and their progression as consumers.