FOLLOW US

There have been many marketing failures by companies that used standard marketing research techniques. Most could have been avoided by using Neuromarketing methods.

One of the best examples is the introduction of New Coke on April 23^rd, 1985. It was a spectacular failure even though Coke conducted extensive research that showed consumers preferred its taste to the old formula and to that of Pepsi.

What their research didn’t show was the reaction in the brain when traditional Coke drinkers cracked open a cold one. They associated that flavor with their childhood and everything that was good about it. It wasn’t just about the flavor.

Are People Really Rational Thinkers?

It seems we aren’t necessarily rational thinkers as the Coke example above illustrates. We like to think we are, but numerous studies suggest otherwise.

In his bestselling book Brainfluence: 100 Ways to Persuade and Convince Consumers with Neuromarketing Roger Dooley takes a look at this topic. When presented with two virtually identical offers we will always take the one that we perceive as being of greater value even when it’s not.

Take for example a gas station that’s 20 miles away, but offering a huge price cut at the pumps. We might be inclined to driver out of our way to fuel up there, even though the amount of fuel we’re burning to get there and back means it’s not really worth it. Our perception of the value on offer doesn’t match the reality. This type of consumer behaviour is quite common and marketers rely on it to sell products.

Emotional Responses Hard to Overcome

The hard truth is that many of the decisions we make are made on the subconscious level and they aren’t rational. If we didn’t associate Coca Cola with fond memories of youth, we might be willing to try a different beverage. For the majority of consumers though, brand loyalty is something we’re not willing to give up easily.

The other guy has to have a really good emotional argument for why we should switch to their product, or we’ll just keep doing what we’ve always done – even if their product is better. By using solid research, psychological techniques, and neuroscience, marketers have a much better chance of success.