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Advertising with and without Social Messages: Insights from Neuro Marketing Presented By: Sharad Agarwal FPM Student, IIM Ranchi
Flow of Presentation• What is Neuro Marketing• Applications of Neuroscience in Marketing• Advantages of Neuro Marketing• Tools of Neuro Marketing (fMRI, EEG, ERP, P300)• Advantages of ERP• Process of Learning• Framework of our study• Expected Outcomes of our Experiment
Neuro Marketing• Neuro marketing is the branch of neuroscience research that aims to better understand the consumer through his cognitive processes and has application in marketing, explaining consumers preferences, motivations and expectations, predicting his behavior and explaining successes or failures of advertising messages• “Applying the methods of neurology lab to the question of the advertising world” (Thomson, 2003)
Applications of Neuroscience in MarketingNeuro science can help Marketers by :• Providing confirmatory evidence about the existence of a phenomenon,• Generating more fundamental (i.e., a neural- level) conceptualization and understanding of underlying processes,• Refining existing conceptualizations of various phenomena, and• Providing methodologies for testing new as well as existing theories
Advantages of Neuro Marketing• It avoids the problem of relying heavily upon subjects’ self-reports when it is highly unlikely that even the most determined subject could accurately articulate his or her crucial subconscious motives• Neuro scientific tools take inputs from the processes happening in the brain, and skip all emotion, introspection and ego• It is difficult for a survey to capture the emotional reasons underlying consumer preferences or decisions
Prediction of Ad Campaign through fMRISubjects Self Reported MPFC activity from Real world Results(Survey Method) fMRI Source: Falk et.al. (2012)
Neuro Marketing ToolsRecording Metabolic Recording Electrical Without recording Brain Activities in Brain Activities in Brain activities Electroencephalography Positron (EEG) Eye Tracking Emission Tomography (PET) Magneto encephalography (MEG) Skin Conductance Steady State Topography (SST) Facial Coding Functional Magnetic Resonance Imaging (FMRI) Transcranial Magnetic Facial Stimulation (TMS) Electromyography Classification of Neuro Marketing Tools
Functional Magnetic Resonance Imaging (fMRI)• It allows observation of deep brain structures and it is suitable for neuro marketing studies• It combines magnetic field and radio waves, producing a signal that allows viewing brain structures in detail• It allows measuring brain activity while subjects perform certain tasks or experience marketing stimuli, searching for patterns
Electroencephalography (EEG)• EEG measures electric product of the brain activity, when brain undergoes any stimulus.• It captures variations in brainwaves, and the amplitudes of the recorded brainwaves correspond to certain mental states, such as wakefulness , relaxation, calmness and sleep• A number of electrodes (up to 256) are placed on the scalp of the subjects, in certain areas, in order to measure and record the electricity for that certain spot.
Electroencephalography (EEG)• For the analysis, voltage and frequency are measured for each subject and compared to the data that was recorded without using marketing stimuli.
Event Related Potentials (ERP)• Event Related Potentials (ERP) are very small voltages generated in the brain structures in response to specific events or stimuli.• ERP in humans can be divided into two categories. 1 The early waves or components peaking roughly within first 100 milliseconds after stimulus are termed ‘sensory’ or ‘exogenous’ as they depend largely on the physical parameters of the stimulus. 2 ERPs generated in later parts reflect the manner in which the subject evaluates the stimulus and are termed ‘cognitive’ or ‘endogenous’ ERPs as they examine information processing
P 300 Wave• The P300 (P3) wave is an event related potential (ERP) component elicited in the process of decision making.• It is considered to be an endogenous potential, as its occurrence links not to the physical attributes of a stimulus, but to a persons reaction to it• When recordedby electroencephalography (EEG), it surfaces as a positive deflection in voltage with a latency (delay between stimulus and response) of roughly 250 to 500 ms
Oddball Paradigm• Two different stimuli are presented in a series such that one of them occurs relatively infrequently- that is the oddball• The subject is instructed to respond to the infrequent or target stimulus and not to the frequently presented or standard stimulus• Majority of studies have employed stimuli to elicit the P3 wave as it is easy to produce, readily captures the subject’s attention and produces least artifact.
Advantages of ERP• Event-related potentials constitute a millisecond- by-millisecond record of neural information processing that occurs between presentation of a discrete stimulus and the production of the motor response.• The level of temporal resolution is vastly greater than other functional neuro imaging techniques• The instrumentation is potentially portable so studies can be obtained in a variety of settings• Moreover, while fMRI cannot be performed on some individuals (e.g., if they have implanted metal devices, fear enclosed spaces)
Process of LearningShort Term Long Term Memory Memory(5-6 hours) (Lifelong) The process of learning, or memory formation, involvestransferring information from short term memory to long term memory.
Expected Results• Help to understand the brand recall pattern of individuals after viewing the advertisements with and without social messages (Cause related advertising)• impact of advertisement with and without social messages on the short term and long term memory of human beings• Managers would be able to choose better advertising strategy for their advertisements