Neuro Marketing

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Slide 1:

Neuro Marketing -By, Pooja Parekh

Neuro Marketing:

Neuro Marketing Don’t rely on focus groups and consumers' ability to express their opinions about your product, let their minds speak for themselves.

What is NeuroMarketing??:

What is NeuroMarketing ?? NeuroMarketing is a new field of marketing that studies consumers‘: Sensorimotor , Cognitive, Affective response to marketing stimuli

Slide 4:

Defining neuromarketing “By studying activity in the brain, neuromarketing combines the techniques of neuroscience and clinical psychology to develop insights into how we respond to products, brands, and advertisement. From this, marketers hope to understand the subtle nuances that distinguish a dud pitch from a successful campaign.”

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NeuroMarketing : Main Goals NeuroMarketing will tell the marketer : what the consumer reacts to, whether it was the color of the packaging, the sound the box makes when shaken,etc.

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Neuromarketing comes in three types: Biometric (heart rate, eye-tracking, etc.), EEG (brain waves) and fMRI (brain activation) How neuromarketing works??

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Biometric and other skin devices measure arousal EEG uses wires placed on the scalp to detect voltage changes beneath the skull Biometric & ElectroEncephaloGraphy (EEG)

fMRI - functional Magnetic Resonance Imaging :

fMRI - functional Magnetic Resonance Imaging fMRI is the newest and most powerful tool. It uses the same large magnets used in hospitals to diagnose medical conditions. It is possible to see the specific areas on the brain that become activated by thoughts, feelings and memories.

Slide 9:

A study from the group of Read Montague published in 2004 67 people had their brains scanned while being given the “Pepsi Challenge”, a blind taste test of Coca Cola and Pepsi ; 50% choose Pepsi and Pepsi tended to produce a stronger response than Coke in the brain's prefrontal cortex (region thought to process feelings of reward); When the subjects were told they were drinking Coke , ¾ said that Coke tasted better ; their brain activity had also changed. The “lateral prefrontal cortex”, an area of the brain that scientists say governs high-level cognitive powers, and the hippocampus , an area related to memory, were now being used, indicating that the consumers were thinking about Coke and relating it to memories and other impressions. Results showed that Pepsi should have half the market share, but in reality consumers are buying Coke for reasons related less to their taste preferences and more to their experience with the Coke brand .

NeuroMarketing : Outcomes:

NeuroMarketing : Outcomes The knowledge provided by NeuroMarketing will help marketers create products and services designed more effectively and marketing campaigns focused more on the brain's response.

Slide 11:

Thank You

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