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Neuro marketing

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Its about the new concept of markrting i.e. Neuro marketing

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Neuro marketing

  1. 1. NEURO-MARKETING Presented To: Ms. Monika Bansal Presented By: Anuradha Sharma
  2. 2. CONTENTS:  Definition  Techniques  4 Steps  6 Stimuli  Pros & Cons  Video  Views of diff people  Case study 2
  3. 3. DID YOU EVER WONDER? 3  Why some brands have a devoted cult-like following while others have zero marketing?  Why and how prospects buy the products or services they do,even if their choices seem irrational or impractical?  Why even the highest priced or lowest quality products sometimes outshell their competitors?
  4. 4. Definition: 4 Neuromarketing is a field of marketing research that studies consumer’s : • sensorimotor • cognitive • affective response to marketing stimuli
  5. 5. 5 NEUROSCIE NCE MARKETING NEUROMARKETI NG
  6. 6. HISTORY OF NEUROMARKETING6 Neuro Marketing was first explored by Harvard Marketing Professor GERRY ZALTMAN in the 1990s He patented a technique called Zaltman Metaphor Elicitation Technique (ZMET), which since has been used by General Motors, Nestle, P&G and Coca-Cola
  7. 7. Consumer’s buying decisions are made in split seconds in the subconcious ,emotional part of the brain PREMISE7 95% of cognition exist in the subconcious mind,therfore,emotions are the drivers of the decision making
  8. 8. 8 APPLIED NEUROMARKETING YES!
  9. 9. 9
  10. 10. 10 EEG EE G SKIN CONDUCTAN CE FACIAL CODING EYE TRACKING VOICE ANALYSIS TECHNIQU ES
  11. 11. Steps: 11 Diagnose the pain Differentiate your claims Demonstrate the gain Deliver to the Reptilian Brain
  12. 12. FOUR STEPS 12 •D DIAGNOSE THE PAIN DEMONSTRATE THE GAIN DELIVER TO THE REPTILIAN BRAIN
  13. 13. Stimuli: 13 Emotion Verbal Contrast Self centered Beginning and end Tangible
  14. 14. Video: 14
  15. 15. PROS & CONS • Ads will be more effective by helping consumers either buy or become loyal to a brand • It identifies audience’s interests and enable advertisers to be more specific in providing product that they want  It’s a form of ‘Brainwashing’  Increased incidence of marketing relating diseases  More effective political propaganda 15 PROS CONS
  16. 16. Views:  German neurobiologist Kai- Markus Müller promotes a neuro marketing variant, "neuro pricing" that uses data from brain scans to help companies identify the highest prices consumers will pay.  Jeff Chester, executive director of Center for Digital Democracy, claims that neuro marketing is “having an effect on individuals that individuals are not informed about.“  Regulation on adult advertising due to adults having defense mechanisms to discern what is true and untrue, should be regulated.  “if the advertising is now purposely designed to bypass those rational defenses, protecting advertising speech in the marketplace has to be questioned.” 16
  17. 17. Case Study: Coke vs Pepsi 17  In a study from the group of Read Montague published in 2004 in Neuron, 67 people had their brains scanned while being given the "Pepsi Challenge", a blind taste test of Coca-Cola and Pepsi. Half the subjects chose Pepsi, since Pepsi tended to produce a stronger response than Coke in their brain's ventro medial prefrontal cortex, a region thought to process feelings of reward. But when the subjects were told they were drinking Coke three-quarters said that Coke tasted better. Their brain activity had also changed.
  18. 18. 18  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. The results demonstrated 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.
  19. 19. THANK YOU!19

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