CATCHING the hands of Neuro-marketing!!!!!!

Now coming to the most crucial part of this nouveau technology , how one is going to perform it in a laboratory?? There are many ways to measure physiological responses to stimuli being presented but the most important ones are:

      1. fMRI

  Functional magnetic resonance imaging (fMRI) measures blood flow to various parts of the brain during different tasks, exposure to stimuli, or experiences. But large, expensive equipment and the unnatural  or unusual experience of the test limit fMRI to small sample sizes and make it non-scalable.

      2. EEG

 Electroencephalography (EEG) uses sensors or electrodes on the scalp to measure electrical Impulses emitted by the brain. It is simpler than brain scanning and good at measuring changes over short time periods. 

     3. Eye Tracking

 Eye tracking records what a participant is looking at, in what order, and for how long. It is portable, non-invasive, and relatively easy to use and scale. Some agencies can offer eye tracking with in-home webcams, and kits can be carried to any location.

image courtsey : google images

These techniques provide an insight to a consumer brain and help us know the effectiveness of advertisements on our sub conscious mind, how a consumer reacts to packaging of some products or the way an advertisement is portrayed.

Lets look at this amazing video to get more idea of how these instruments are actually used. Using these techniques we can know how effective our adverts or movie trailers are. There’s a movie fan who loves music and dance but she is least interested in one of the actors present in the trailer. Notice the orange dots which represent the eye movements while watching a movie and the red part represents brain activity. Also note the peaks in her frustration when the same actor sings.  http://www.youtube.com/watch?v=RaLCLVSBlfc

Why You Need To Know What Neuromarketing Is !!

Hope you enjoyed the video link that was shared in the earlier post.

Now the most important question that must have walked through your mind is that where can we use Neuromarketing and why do we actually need to know about this field. Some of you might be aspiring to become the new entrepreneurs in the upcoming year, some of you might be stepping into the world of marketing as a profession (or already in that profession), or some of you wish to expand your business in a new dimension….but what you think you have lacked sometimes is what your customers feel about a certain thing and how you can maximize profit at one go without bearing those heavy losses that make you feel miserable.

Let it be any field in the world, you need neuromarketing everywhere...for e.g.:

• ·         Branding
• ·         Product design and innovation
• ·         Advertising effectiveness
• ·         Shopper decision making
• ·         Online experiences
• ·         Entertainment effectiveness
• ·         Politics

And what not!!

Have you ever thought that each year even when billion dollars are invested in advertising campaigns the returns are not as expected? The main reason being the conventional methods(focus groups and questionnaires) adopted for testing and predicting the effectiveness of those campaigns has generally failed because they depend on consumers’ willingness and competency to describe how they feel when they are exposed to an advertisement.

Now you might think that whenever you buy stuff for yourself, you think rationally but that’s not true. Most of our purchasing decisions are sub-conscious almost 90% and only 10% rational. Hence you can imagine the reason for failure behind those campaigns because our behavioral measures like amount of time and money spent, actual purchase and our verbal measures like the self reported assessment of attitudes, emotions and recalls do not account for a significant percent.  

Now this certainly demands your attention that how do we know what’s hidden in that 90% of the ability and the only thing that can draw your attention towards this astounded reality is neuromarketing !!

Your Brain in The Ad World !!!

Have you ever thought if you could cut the chase straight to the marketing and reach consumers brain instantly and if u did here’s an answer to all your thoughts and its Neuromarketing. Neuromarketing lets you get into the world so different and enchanting that lets your brain decide what it desires and what it actually wants to buy. 

Let’s see what was published in 2004 in a study from the group of Read Montague.  Although you’ll be shocked by the results but the fact revealed was that most of the people preferred Pepsi when they were not aware of the brand  because of its taste and when they were made aware of the brand most of the people preferred Coke, now this is what we call as BRAND LOYALTY.

 Image Courtsey: google images

“Hey you, Yes you! Wouldn’t you like to know why your Ads are not running through my mind”?

 What actually Neuromarketing is?

Well, it is the study that reveals the mystery behind the buy button of your brain. Neuromarketing is not a new form of marketing but yeah a new way of marketing that studies your brain activities as a consumer and the way you respond to certain commercials and advertisements. Your changing behavior, your emotions can be analyzed and can give an answer to the question as to why you favor one product or service over another and what makes some succeed magnificently and others flop miserably.

                                                                             Image Courtsey : google images

Let’s unveil the global success mantra of GANGNUM STYLE.  Yes you are right…the same song that recorded a billion hits on the internet. The neuromarketing study conducted in Brazil reveals that the video was a success because the song has many attractive postures and stimulated our limbic system. That’s strange, right? But lets have a look at this funny video link given below to know the reality.  http://www.pinterest.com/pin/205899014187910974/

Unleash this new technology slowly with every coming blog. Stay connected coz you’re gonna love the way you think, why you think and how you think!!!!!