Thursday, 19 January 2012

Crazy Methods

Story : Scene: It's a fine, sunny day in the forest, and a rabbit is sitting outside his burrow, tippy-tapping on his typewriter. Along comes a fox, out on a walk.
Fox: "What are you working on?"
Rabbit:"My thesis."
Fox:"Hmm. What is it about?"
Rabbit:"Oh, I'm writing about how rabbits eat foxes."
(incredulous pause)
Fox:"That's ridiculous! Any fool knows that rabbits don't eat foxes!"
Rabbit:"Come with me, and I'll show you!"
They both disappear into the rabbit's burrow. After a few minutes, gnawing on a fox bone, the rabbit returns to his typewriter and resumes typing. Soon a wolf comes along and stops to watch the hardworking rabbit.
Wolf:" What's that you are writing?"
Rabbit:" I'm doing a thesis on how rabbits eat wolves."
(loud guffaws)
Wolf:" You don't expect to get such rubbish published, do you?"
Rabbit:" No problem. Do you want to see why?"
The rabbit and the wolf go into the burrow, and again the rabbit returns by himself, after a few minutes, and goes back to typing.
Finally a bear comes along and asks, "What are you doing? "
Rabbit: "I'm doing a thesis on how rabbits eats bears."
Bear: "Well that's absurd!
Rabbit: "Come into my home and I'll show you"
SCENE: Inside the rabbit's burrow. In one corner, there is a pile of fox bones. In another corner, a pile of wolf bones. On the other side of the room a huge lion is belching and picking his teeth.
------------------------- THE END -------------------------
-- It doesn't matter what you choose for a thesis subject. -- It doesn't matter what you use for your data. -- What does matter is who you have for a thesis advisor.

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Thanking You
Atul Sikrai
Brand Diagonal.

Thursday, 12 January 2012

Neuromarketing:The next big trend

Neuromarketing : The next big trend

 It’s all about neuronal connections embedded in our three-pound brain.
It is basically an application of Neuroscience- the science related to understanding the functioning of brain, in marketing.

Although expensive, it is pregnant with the promise to fully understand consumers’ decision making process while shopping. Scientists, Neuroscientists to be specific, say that close to 80 percent of the human emotions that slosh around in the approximately 3x1011 neurons in the brain, are rooted in the unconscious which are inaccessible to our direct, conscious introspection. Hence the participant filling a questionnaire, despite his best intentions, is himself not aware of the rationale behind preferring a particular product. They miss out the activity of the bio-chemicals in the brain which plays a significant role in choosing a brand. Advanced technologies like fMRI, magneto-encephalography, and more conventional electroencephalograms (EEG) can do exactly what the conscious mind of the participant misses out.

Every new product launch, ad campaign or package design takes significant research, time and resources to ensure success, but not every launch is successful. Suffice it to say that guess work plays a part to determine: Will it grab attention? Will it be memorable? Will it engage emotionally? And most importantly, will it drive purchase intent?

Taking the guess work out of the equation prior to launch is a marketer’s dream, which is now a definable reality with quantifiable results. Just recently the notion was put to the test to see if neuroscience could be used to help a magazine sell more copies. And the results were enlightening.

Neuromarketing is increasingly being used across numerous industries worldwide to help companies improve their product development, package design and marketing efforts, but this is the first time it has been used by Brand Diagonal.

Having sales success in a competitive environment such as a crowded newsstand carries real meaning for manufacturers, marketers, and retailers. Full-brain neurological testing provides a deep dive into consumers’ subconscious minds, where product trial and purchase decisions are made, and where brand loyalty is formed. This study shows that neuromarketing capabilities can deliver at the cash register.

Thanking you

Atul Sikrai
Brand Diagonal.