Neuromarketing: The Science and art of reading consumer’s mind.
What if companies could read our minds? Neuromarketing is becoming more and more interesting instrument like the science of being able to read consumer’s mind.
Although, neuromarketing has not been invented these days. It’s been years since advertisers, product developers and marketers first started using social psychology to influence what we buy and how we buy. Companies have used it to explore basic human behaviors, and use science to understand how consumers react to marketing campaigns, products and eye-deceiving designs. Certain companies, particularly those with large-scale ambitions to predict consumer behaviour, have invested in their own laboratories, science personnel or partnerships with academia. Companies such as Google, CBS, Frito-Lay, and A & E Television amongst others have used neuromarketing research services to measure consumer thoughts on their advertisements or products.
Traditional market research has done a lot of giving new ideas and leading to success big companies. That’s why big corporations spend millions of dollars on these studies. But as modern science and technology develop, companies hope for even more accurate answers about consumer behavior towards their products or services.
Every company wants to achieve their goals ; selling more stuff. That’s why big companies have been studing neuromarketing. Neuromarketing is a discipline that seeks to understand how marketing stimuli impact people by observing and interpreting their emotional reactions. It focuses on the fact that emotional processes in the brain decide the willingness to buy something (which can better explain the term “impulse buying”).
But how it works?
When tracking brain functions, neuroscientists generally use either electroencephalography (EEG) or functional magnetic resonance imaging (fMRI) technology. EEG measures fluctuations in the electrical activity directly below the scalp, which occurs as a result of neural activity. By attaching electrodes to subjects’ heads and evaluating the electrical patterns of their brain waves, researchers can track the intensity of visceral responses such as anger, lust, disgust, and excitement.
Neuromarketers claim that such methods are more cost effective, but even more important — much more efficient than traditional methods. A test using neuroscience methods like EEG does not need thousands of people to produce accurate findings. It only requires a sample of just twenty people. The low sample number is because our brains are remarkably similar, although there are differences between females and males or children and seniors.
But some people are fearful about the use of neuromarketing and mass manipulation over consumers. However, it can be determined that these tests can provide companies with valuable information, unlike traditional strategies. With neuromarketing tools they will know how to design products to look, function and feel before they are even ready to hit the market, minimizing risk and maximizing all resources.
Examples of neouromarketing.
Uma R. Karmarkar, an assistant professor at Harvard Business School cites the example of junk-food giant Frito-Lay , which in 2008 hired a neuromarketing firm to look into how consumers respond to Cheetos, the top-selling brand of cheese puffs in the United States. Using EEG technology on a group of willing subjects, the firm determined that consumers respond strongly to the fact that eating Cheetos turns their fingers orange with residual cheese dust
That data in hand, Frito-Lay moved ahead with an ad campaign called “The Orange Underground,” featuring a series of 30-second TV spots in which the Cheetos mascot, Chester Cheetah, encourages consumers to commit subversive acts with Cheetos. (In one commercial, an airline passenger quietly sticks Cheetos up the nostrils of a snoring seatmate. Problem solved.) The campaign garnered Frito-Lay a 2009 Grand Ogilvy Award from the Advertising Research Foundation.
How To Sell a $20 Burger
An upscale hotel in Amsterdam sells a hamburger for about $20. That probably isn’t much out of line with similar meals at big-city hotels, but this establishment uses an interesting technique to make its prices seem a bit more justifiable.
What’s their secret?
The restaurant embeds their menus in a very heavy block of transparent plastic. (Imagine a brick made out of Lucite, Perspex, or Plexiglass.)There are no doubt practical reasons for this choice – keeping the menus clean, preventing them from blowing off outside tables, and so on.
But, there’s some psychology in this practice, too. A 2010 studyfound that “haptic sensations” affected how subjects perceived content.
Specifically, the scientists had subjects evaluate a job candidate by viewing a resume either on a light clipboard or a heavy one. The subjects who had the heavy clipboards rated the applicant as “better overall” and as “displaying more serious interest in the position.”
It’s not a big leap to think that a menu in a heavy block of plastic might add some “weight” to its offerings compared to a thin piece of paper.