Ethics-clips-NEUROMARKETING

Published: By: diaryofmywholelife.blogspot.com - 06:45

NEUROMARKETING

Neuromarketing is the next generation of market research, and the most accurate method of gaining customer intelligence. The aim of Neuromarketing is to understand customer behavior and to be able to predict, as much as possible, their future purchasing decisions.

The term was coined only in 2002, by Ale Smidts, winner of the Nobel Prize for Economy. Neuromarketing originates in Neuroscience, and uses brain-imaging technologies developed in the 1960’s (EEG) and 1990’s (fMRI). The first few studies we conducted in the early 1990s in the US, commissioned by major companies (Coca cola, Levi Strauss, Ford, etc). Since then the demand grew year after year.

The Old Paradigm vs The New Paradigm

In the 1600’s, Descartes said “I think, therefore I am.” That has been widely accepted as human beings are motivated by logic and all decisions made are based on rationality. This is what we now call “The Old Paradigm”: first people think, then feel and finally act. However, in the early 1900’s, Freud argued that emotions can override behavior. Since then, this idea sparked debates in Advertising boardrooms, on whether advertising should be rational or emotional.

In his book titled ‘Descates’ Error’ (2000), Antonio Damasio – a leading neuroscientist – outlined this new concept. At a basic level, the brain triggers a body response (i.e. fight/flight). Following the instinctual response is the feeling of emotion, or the conscious recognition of the emotion. Only much later, does the process trigger additional cognitive processes such as planning ahead, or exploring different strategies for dealing with a situation.

We now know that emotions are a very important input to rationality. In fact, 95% of all decisions are made at a subconscious level (according to Gerald Zaltman). So the old paradigm of “Think-Feel-Act” has been proven wrong by Cognitive Neuroscience, and replaced by the new paradigm “Feel-Act-Think”

Why should you measure emotion?

Emotion is the driver of decision making, because it guides what we pay attention to from our environment and whether we’re motivated to approach or avoid it.

Emotions are very important in controlling mood, like having a low or high level of arousal. You need a lower level to fall asleep at night, and a high level of arousal to wake up in the morning. Think about how many brands are positioned to enhance certain moods or feelings. This powerful concept is attracting the attention of the business community towards the importance of measuring and understanding emotions.

What You Can Use Neuromarketing For

Brands such as Campbell’s Soup, Gerber, and Frito-Lay have used neuromarketing to restyle their packaging designs. Consumers were exposed to a product’s packaging piece by piece, and their response was recorded as positive, neutral, or negative. This information was used in conjunction with an in-depth interview to analyze specific points that eventually resulted in changes to elements such as color, text size, and imagery.

For instance, Frito-Lay discovered matte bags with pictures of potatoes did not trigger a negative response, whereas shiny bags with pictures of chips on them did. Within months, new bags were designed and the shiny ones were scrapped.

Hyundai utilized neuromarketing when they gave thirty participants EEG caps and asked them to examine a car prototype for an hour. Information recorded by the electrodes were stored in an individualized hard drive and analyzed by experts.

In another case, PayPal discovered that commercials focusing on speed and convenience triggered a significantly higher response than those advertising safety and security and developed an entirely new ad campaign based on the results.

Who employs neuromarketing?

Neuromarketing isn’t cheap. In fact, an MRI machine can cost as much as $5 million (and twice that to set up). Additionally, a single ad sample group of 20 people can cost in excess of $10,000. By necessity then, true neuromarketing is primarily used by large (or at least heavily subsidized) companies and organizations. Some recent examples:

Google and MediaVest partnered with biometrics researcher NeuroFocus (minority-owned by the Nielsen Company) to gauge how users responded to their InVideo advertisements (the semi-transparent overlay ads on YouTube). Forty participants’ sensory responses were scored along such criteria as attention, emotional engagement, and effectiveness.

Microsoft uses EEG data to better understand its users' interactions with its personal and laptop computers, including feelings of "surprise, satisfaction, and frustration."

Frito-Lay studied the female brain in order to learn how to better position its advertising. The company discovered that it needed to avoid talking about “guilt”—even “guilt-free”—and instead focus on making "healthy" associations in its advertising.

The Weather Channel (TWC) was another company that partnered with NeuroFocus, as it prepared to relaunch its When Weather Changed History series. Using EEGs as well as eye-tracking technology and GSR (galvanic skin response), TWC was able to refine its commercials, and programming, for maximum impact.

Its considerable cost aside, neuromarketing still has a range of skeptics and detractors. Concerns include accusations of “brainwashing”, questions as to how much brain behavior actually affects consumer behavior, and the inability (so far) to employ neuromarketing techniques in the business-to-business arena.

Still, as its high-profile users attest, neuromarketing has already captured the market’s imagination. As researchers conduct more studies in the field, further refinements—and possibly legislation in responses to the aforementioned “brainwashing” allegations—will no doubt further enhance and define neuromarketing strategies in the future.

For what kinds of customers is neuromarketing effective?

Neuromarketing is a flexible method to determine customer preferences and brand loyalty, because it can apply to nearly anyone who has developed an opinion about a product or company. No matter what form it takes, marketing focuses on creating positive and memorable impact in the minds of customers. Neuromarketing measures those impacts, but anyone can take the basic discoveries and adjust their product or sevice to reflect subconscious consumer needs.

Sensory devices that create or evoke memories, for example, can be easily employed—the aroma of fresh bread, recollections of past stories (either a published work or a shared experience), evocative language, a song that gets stuck in your head and won’t come out -- ultimately, these are all effective (if crude) examples of neuromarketing that can be used by nearly any business of any size.

6 Neuromarketing Principles

(that you don’t need an MRI to know)

Don’t use “we,” or talk about your corporation. Focus on your customers’ pain point, not yours.

Get to the point. Your message is competing with about 10,000 other messages sent to the brain daily.

Be visual. Don’t just tell about a product; show it. And if you can’t show an image, create a mental image for your customers.

Keep it concrete. Ads with facial expressions, which help decode people’s intentions, are one example.

Close strong. People pay the most attention at the beginning and end of an ad. This will help ensure memory storage

Use emotion. Surprise, laughter, fear, and anger all cause disruption— and thus, trigger memory.

How is a neuromarketing campaign developed?

Although their work heavily affects the visible part of advertising, neuromarketers focus primarily on the “back end” work. They’re less concerned with developing the right message or branding than they are with studying the emotions and memories triggered by that message.

A neuromarketing campaign is more person-intensive. Whereas typical marketing draws broadly from a cross-section of customers, through a variety of methods (focus groups, surveys, customer records, etc.), neuromarketing focuses intently on individual marketing test subjects— usually no more than a few dozen, and over an extended period of time.

Toward this end, MRI and EEG machines are used to monitor participants’ brain activity before, during, and after exposure to neuromarketing techniques. Other physiological sensors that monitor heart rate, breathing, and skin response may also be used.

Neuromarketing depends on a process known as priming—an electrochemical reaction set off whenever a topic is first introduced. Priming allows the brain to recall everything it knows about the specific topic (as with our opening Coke example). Even before the conscious mind becomes aware of a stimulus, the subconscious mind has already begun to process it and respond—all in the course of a single second. Neuromarketing, then, is most concerned with that second when the response is first formed.

Once a consumer's brain is primed, new information/stimuli is introduced to allow the brain to compare this new information with what it already knows, and to form and express conscious opinions about the product itself. This information is compared to the information already compiled in the priming stage.

Once all the data has been collected, the marketing campaign itself becomes more like any “traditional” marketing campaign. Based on the neural and sensory data collected, the broader marketing team will further develop and adjust the campaign in order to create maximum engagement, and memory retention, with consumers. 

What career titles work with neuromarketing strategies?

Client Managers

Client Managers are responsible for the development and presentation of neurological studies commissioned by (often high-profile) clients.

What do they do?

develop relationships with key stakeholders, as well as a deep understanding of a client's business needs and objectives maintain an active portfolio of client goals and deliverables distill information and qualitative insights from quantitative data, and present the results of neurological studies directly to clients, helping them to also interpret understand the data presented develop actionable insights from neurological studies, and work toward implementing them

Education and experience

What type of salary should I expect?

Client Manager
Median annual pay: $116,010
Top earners: $187,199+

Neuromarketing Consultant
Median annual pay: $78,160
Top earners: $138,790+

Market Research Analyst
Median annual pay: $60,570
Top earners: $111,440+

Source: U.S. Bureau of Labor Statistics

Client managers involved with neuromarketing will need a bachelor’s degree (or preferably higher) in business or social/political science; classes in psychology, sociology, and systems sciences will also prove helpful. In addition, client managers will need five to ten years’ experience in direct management of clients, as well as significant experience in market and brand research, advertising analytics, demographic research, and product development.

Neuromarketing Consultants

Neuromarketing Consultants (coaches/trainers/instructors) take the information acquired by neuromarketing methods and train other companies on how to implement those findings—at a fraction of the cost of formal neuromarketing.

What do they do?

take existing knowledge in the field of neuromarketing, and equip companies to apply that knowledge to their existing sales, marketing, and communications strategies train participants, either individually or in workshops, to message and speak the language of decision-makers, based on findings from neural and sensory data provide consultations on how to make company websites, marketing material , and overall branding and messaging more “brain-friendly”

Education and experience

Consultants in this field will ideally have an educational background that features some combination of marketing, psychology, and cognitive neuroscience. Prior experience in marketing and presentation will be a must, no matter what. Excellent communication skills are also a must, and are standard to any good marketing education program.

Market Research Analyst

What do they do?

conduct neuromarketing and other qualitative research, in order to learn customers’ conscious and unconscious reactions to the products and messaging being offered analyze and evaluate the neurological data, as well as other data gathered from other research methods make recommendations to clients about how to refine the product and/or messaging, based on the information gathered

Education and experience

Market research analysts need at least a bachelor’s degree in market research, or a related field such as statistics. Those wishing to specialize in neuromarketing will also want to minor, or at least be exposed to, classes in psychology and neuroscience. Because of the advanced nature of the research, or for those seeking leadership positions, a master’s degree may also be required. Research analysts often complete an internship while in school, and should also consider seeking experience in jobs which require data collection and analysis.

How can a marketing school help you in this field?

Neuromarketing—true to its name and especially at its highest levels—operates in two very different worlds: marketing and neuroscience. Therefore, neuromarketing agencies will look for individuals who are primarily business people who can communicate with neuroscientists; and who, conversely, are comfortable translating technical jargon into information that decision-makers will understand. A marketing education will help you to communicate persuasively to those on both sides.

Because neuromarketing rests somewhere between a psychology and a science, coursework in consumer behavior will prove extremely helpful for future professionals. Understanding the technology behind the practice is also a major aspect of neuromarketing programs, but that technology is still changing regularly. Today, fMRIs and EEGs get the attention; however, in the future, other brain measurement techniques may prove far more useful.

So get your brain in gear, and talk with schools and counselors who can help you get on the path to a mentally and emotionally stimulating career in marketing.

Final thoughts

Breaking through the clutter has proved to be an increasingly difficult task in this day and age, and marketers are always searching for an advantage. Enter neuromarketing. Understanding the most basic roots of human emotion is vital in comprehending a consumers’ purchasing behavior. The beauty of neuromarketing is its ability to integrate into both your outbound and inbound marketing strategies. Inbound marketers have used neurotechnology to study their website design as well as other inbound marketing techniques. Here were some of their key findings:

Aesthetics and navigability were the two most important aspects of a company’s website.

Blog postings were deemed as the most trusted and effective form of written content.

YouTube videos showing executives, employee comments, and information scored the highest in customer advocacy.

Adding a pinch of neuromarketing principles to your existing inbound marketing methods could give your company a recipe for marketing success.

 

PS:- IN MY ENGINEERING CAREER I DID MY PROJECT BASED ON NEURONS (AIS - ARTIFICIAL IMMUNE SYSTEM - SOFT COMPUTING) LINK -  HTTPS://WWW.YOUTUBE.COM/WATCH?V=NV-GXXAVX9S, AGAIN IN MBA TOO :P HA , BIO OR BIO RELATED WORDS NEVER LEFT ME ALONE FROM MY LIFE :)

REFERENCES

http://www.trueimpact.ca/applications/studies-examples/

http://www.slideshare.net/dianalucaci/neuromarketing-overview-neuromarketing-examples

http://www.marketing-schools.org/types-of-marketing/neuromarketing.html

http://neurostrata.com/neuromarketing-consumer-neuroscience-frequently-asked-questions/

Published: By: diaryofmywholelife.blogspot.com - 06:15

Why Kolaveri Di Went Viral - Lessons for Marketers

Why this #Kolaveri di! – Social Media Sensation – Movie Marketing Case Study

Within three weeks of its release on YouTube, the Kolaveri Di video garnered 19 million views and was shared by 6.5 million Facebook users. It was drawing more than 10,000 tweets daily by the end of its first online week. Having garnered over 45 million views so far, it has proved with its success that viral marketing works in India too.

That was the official story behind Kolaveri but I can’t end it here, just like all the marketing gurus of the world have given their gyaan (pun entirely intended) on the subject – Kolaveri. Here is mine:

Why this Kolaveri Di’ a popular song sung by Dhanush for his movie ‘3’ directed by his wife Aishwarya starring himself and Shruthi Hassan became sensational, conversational track on Twitter, Facebook, Traditional Media and beyond.  The statistics (As of 22nd November 2011, 6:00 PM) below shows its success:

Prashanth Challapalli a.k.a Jack in Chief –the business head of Jack in the Box Worldwide, the digital outfit behind the monster called #kolaveri for a quick chat.

So, the conversation is pasted below just as it happened:

Jason: Wassup Jack in Chief?

Prashanth: Hey, Jason. All is good as you can see :)

Jason: Congrats man!! Kolaveri is just turning people mad on social media. Can I give you the credit?

Prashanth: Thank you man. I so wish that was possible but this is a team effort by my team, the client and the music listeners across the globe.

Jason: Hahahaha, that’s quite a modest answer! Tell me your first reaction on watching the Kolaveri Di video shoot?

Prashanth: When I saw the video for the first time in office, I knew it connected across languages because everyone in the office was watching it on repeat mode. I realized we had a brilliant piece of content and decided to seed and promote it aggressively.

Jason: Did you get a brief from Sony Music Entertainment for Kolaveri Di? Can you tell us what the brief was?

Prashanth: Yes, we got a brief from Sony Music South and the brief was to market the music video on Social Media.

Jason: Neat! So what was your social media strategy for such a clear brief?

Prashanth: We decided to seed the video online. Social Media platforms like YouTube, Facebook and Twitter formed the core of our strategy. We were sure the YouTube link would attract You Tube views on its own.

On Facebook, The Sony Music South page had close to 200K fans and we knew this would hit home there because it’s a predominantly Tamil audience.

On Twitter, we created a hashtag called #whythiskolaveridi and started posting quirky lines like “Iceland has not heard #whythiskolaveridi”, “Not called for 2 days #whythiskolaveridi”, etc., with the YouTube link to the video. This intrigued people on twitter who didn’t understand what Kolaveri di meant. So questions started being asked and as a natural impulse, people started clicking on the link.

Jason: With Sony Music having such a strong base of fans/followers/viewers on Social Media and PR power, how did you think your social media strategy added more value to the success of Kolaveri Di?

Prashanth: That was surely on our mind but our job was to get people to click the play button on the video and then virality was assured to a certain extent because we all like sharing what we really, really like.

Jason: Do you think music is the next big trend in the marketing of a brand on Social Media?

Prashanth: Music has always been big but brands really haven’t used it well so far. We might see that changing fast though via Social Media.

Jason: What are the current statistics of the song on social media?

Prashanth: Ahh, I’ve started liking to answer this question. Here are the statistics of the campaign from 16th November to 5th December 2011:

Twitter

– Total Tweets: 96,323

– Total Impressions: 8,072,375

YouTube

– Views (Official Sony Channel): 16,572,142

– Views from India: 11,079,802

– Subscribers gained: 8,450

– Highest no of viewers are male since it’s a male centric song : 72.3% male viewers

– Likes: 146,224

– Highest shares from mobile apps and directly: 5,740,365

– YouTube has also given the video a gold medal for the most popular video and a silver medal for trending

Facebook

– Total shares: 3,625,124

Other Achievements

– First ever Tamil song to play on FM in Bangalore

– First ever Tamil song to be aired on MTV

– Now an IIM Case Study

·  The song has got about 56,65,817 views, more than 67,740 likes, around 27523 comments on YouTube (As of 26/11/2011, 11 AM)

·         The song is trending on Twitter in India from past 3 days with hash tag: #Kolaveri

·         The song was shared by 1 Crore, 97 Lakh 1 thousand 637 people on Facebook (as of 26/11/2011, 11:10 AM)

·         As per Youtube’s Trend Dash Board Kolaveri song is trending in the top 10 is US today and number 1 in India past five days.

·         This song was played in almost all the Radio Stations of Mumbai today.

·         This would be the first tamil song to be aired on MTV tomorrow (As said by the Music Director)

·   On November 22^nd, 2011 on the basis of the last 1,000 tweets 8,36,069 impressions were generated, reaching an audience of 709,636 followers within the past 24 hours. Of the 1000 tweets 576 were original tweets, 302 were retweets and 122 were the @mentions.

·    On November 23rd, 2011 on the basis of the last 1000 tweets at 5:45 PM. 1,000 tweets generated 727,204 impressions, reaching an audience of 616,932 followers within the past 24 hours.

·        Some of the celebrities or popular channels who added value to the song promotion making  it to reach their thousands of followers: Amitabh Bacchan, Anand Mahindra, NDTV, Singer Shreya Ghoshal, Actor Vivek (Comedian), Madhavan, Trisha and more.

·          

The song was released on 16^th of November 2011 on hearing it first I felt this number would be a TamilNadu sensation but it went beyond what I predicted and is now becoming a national sensation by becoming a twitter trend for 2 consecutive days.

Reasons for National Sensation:

·  The song definitely is catchy and makes you addicted, especially the foot tapping beats that makes you shake your head (at-least).

· The lyrics of the song is in English (mostly) sung in tamil style thus making this understandable worldwide,  glad they have added the subtitle bringing to it a karaoke approach.

·   The video of the song is very personalized depicting the recent national best actor award winner singing the song (showcasing his singing talents), his expressions and smile that shows soulful singing, presence of Shruti Hassan and Aishwarya at the studio that indicates involvement of the entire crew to make this song and lastly direction of Aniruddh a 21 year of young music director who has made this possible.

·         The sequence of shoot is wise, basically hero should have been depicted in a pub with a glass of whisky in hand (typical bollywood style), the choice of shooting it in a studio is wise and very personalized.

·       The movie marketing is well strategized with involvement of Social Media from day 1. The recording of the video at the studio with natural movements and expressions itself for the sake of promoting it on YouTube proves the efforts.

·   Its a smart choice to make the National Award Winner actor winner – Dhanush sing this song as his fan base is huge and I the initial spark on Social Media started from them.

·  The song is sensation in US, Australia, India and many other countries – love the way the movie is promoted, a song can speak more than a trailer and thanks to Social Media for making this possible.

PS:- IN PRESENT WORLD YOU DON'T NEED TO WORK MORE TO GET FAMOUS , BUT YOU NEED TO KNOW HOW TO DO THE SAME WORK IN SMART WAY EVEN YOU SHOULD HAVE KNOWLEDGE IN MARKETING TOO . IT'LL HELP YOU MORE TO GET MORE PUBLICITY. HOW #KOLAVERIDI DID , THIS IS JUST A SIMPLE EXAMPLE . 

MANY MORE EXAMPLES ARE THERE , I'LL POST ON EVERY CASE STUDIES . SO THROUGH THIS SMALL CASE STUDY I WANNA SAY HOW WE CAN BE AWESOME IN BUSINESS WORLD .

REFERENCE-

http:/www.soravjain.com/why-this-kolaveri-di-social-media-sensatin-movie-marketing-case-study

http:/www.businesstoday.in/magazine/case-study/kolaveri-di-sucess-case-study/story/22957.html

http://www.slideshare.net/mslgroup/rhythm-correct

http://defence.pk/threads/why-this-kolaveri-di-%C2%96-social-media-sensation-%C2%96-movie-marketing-case-stud.153447/

Published: By: diaryofmywholelife.blogspot.com - 10:55