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 23rd, 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.
