PowerPoint Presentation

NeuromarketingPresented by: Group 3

Karan Mehta (141122)AnishaBhansali (141208)Praveen Jha (141237)Sumit Kumar (141259)Bhargav Korat (141308)

Neuromarketing

Its not the product or a service that makes a customer happy but what makes a customer happy is how that product is perceived.

People often lie when asked about something...They dont think what they say they think.They dont tell you actually how they feel.They do not do what they say they do.Why Neuromarketing ??Features of NeuromarketingA neuromarketing campaign is more person-intensive.Neuromarketing focuses intently on individual marketing test subjects.Track the response of subconscious minds fMRI and EEG machines are used to monitor participants brain activity before, during, and after exposure to neuromarketing techniques.Neuroscience Role in MarketingNEURO MARKETING TECHNIQUESPhysiological techniques

Skin conductance (measures changes in the chemical and electronic balance of or skin)Heart rate (measures changes in hear rate due to stimulus)Facial coding (measures facial expressions for change)Eye Tracking (measures what we look at)Brain imaging and mapping techniques

fMRI (Magnetic resonance scanning), same scanners as used for MRIEEG (Electro fields captured with electrodes on subjects head)MEG (magnetic fields captured via machine)Online Neuro response tests (modelled on MRI learningsNeuroscience Working PrincipleNeuromarketing understands that when stimulated different parts of the brain are activated. By understanding and observing these responses using MRI and EEG, and analysing the timing and response of our brains in relation to specific stimulus researchers can determine what we really think.

The Neuromarketing toolkit

MEGEEGfMRI (functional MRI)Case Study: Shelf Analysis (Space Management)

Agency: iMotions - Enabling Services Date: April - June 2009Client: CadburyPlace: Denmark

Objectives:The client wanted to know the optimal space management to place the Fusion group of products and the V6 group of products in the supermarket check-out shelfMethodology:Attention Tool + QuestionnaireTarget segment: 120 people (Males 50% / Females 50%) 15-39 years old2 Cells: (A/B) 60 people each (30 M / 30 F)Cell A and Cell B was shown to be measured by EYE TRACKING METRICS Spotlight & Highlight.

HighlightFusion at top (Time Spent) V6 at top (Time Spent)Top Shelf15%12%Middle Shelf10%11%Discount DividerX4%Conclusions / Learnings

The Fusion group of products gets more attention than the V6 group of products no matter where they are placed (though the difference is very little).The Top shelf gets more attention than the Middle shelf no matter which products are placed.In general the respondents look first at the top shelf and then at the middle shelf no matter the arrangement of the products.Whenever the Discount-Price groceries divider is present, it is the first element to catch the attention of the respondents, gets considerable amount of attention and is looked by approximately 75% of the respondents.The optimal space management arrangement for product visibility is to place the V6 group of products in the Top shelf and the Fusion group of products in the Middle shelf to help V6 gain more attention.Case Study on Campbell Soup CompanyObjective:- To make some product changes to its condensed soup category after examination of consumers brainPurpose for Adopting Neuro Marketing:-To figure out what made consumers buy its soups and to reinforce/ strengthen those aspects

Issues faced by the CompanyCampbell's condensed soups, which were the company's flagship products, had been witnessing weak growth momentum since 2002.The company had been increasingly finding a disconnect between its highly-talked-about advertisements and soup purchases on-the-ground.Method Adopted for StudyThe company adopted a clinical approach in conducting this neuromarketing exercise. It recorded and assessed the biometric details of over 1500 individuals in collaboration with three neuromarketing enterprises, and, also verified the results of the study using conventional market research techniques.Changes ExecutedThe changes included deleting the spoon from the picture, incorporating an image of steam rising from the soup, and a bowl with updated contours.Removed the legendary red colored streak at the top of Campbell's soup containers made it difficult for shoppers to pick out their preferred flavorResultsIn the first quarter of 2011 , Campbell's US soup sales went up by 5% when compared to the corresponding quarter of the previous year.But in the 2nd Quarter the sales reduced by 4% owing to absence of new products in its soup portfolio.THANKYOU