buyology

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MAC

AgendaAgenda

Lessons from “Buyology”-Manjit 30 mins

Radio Marketing:- Angad Menon 30 mins

Concepts from Six Sigma- Koushik 30 mins

Discussion and Feedback 30 mins

The Truth and lies about what The Truth and lies about what we buy.we buy.

- Buyology- Buyology

By Martin LindstromBy Martin Lindstrom

INTRODUCTIONINTRODUCTION

BuyologyBuyology describes the result of marketing guru Martin Lindstrom’s describes the result of marketing guru Martin Lindstrom’s pioneering three year, $7 million dollar study.pioneering three year, $7 million dollar study.

Why buyology:-Why buyology:-

1) Half of advertising budget is wasted. Trouble is don’t know 1) Half of advertising budget is wasted. Trouble is don’t know which half?—John Wanamaker which half?—John Wanamaker 2) What drives consumers to make the choices they do?2) What drives consumers to make the choices they do?3)What causes us to choose one brand over other?3)What causes us to choose one brand over other?4)What are shoppers really thinking? 4)What are shoppers really thinking? 5)Why in US every 8 out of 10 products fail and 9.7 out of 10 fails 5)Why in US every 8 out of 10 products fail and 9.7 out of 10 fails in Japan?in Japan?4) Does advertising really influence our behavior?4) Does advertising really influence our behavior?

Based on the largest neuromarketingstudy ever Based on the largest neuromarketingstudy ever conducted, conducted, Buyology Buyology reveals how marketers and advertisers truly reveals how marketers and advertisers truly capture our attention, our loyalty, and our money.capture our attention, our loyalty, and our money.

Kick startKick start

$7 million dollar study that used the latest in brain scan technology to peer into the minds of over 2,000 people from around the world.

CHAPTER 1: A rush of blood to CHAPTER 1: A rush of blood to the headthe head

Daimler Chrysler

Chapter 2: Chapter 2: This Must Be the PlaceThis Must Be the Place

Brand Recall:-

1)1965 a typical customer has 34 percent brand recall.--------1990 it has fallen to 8 percent --2007 it is only 2.2%------------------According to AC Neilson Study2)Presence of tools like TiVo which can enable us to view serials and movies without advertisements.

In Short we don’t have any memory of brands In Short we don’t have any memory of brands that don’t play an integral part in the story line of that don’t play an integral part in the story line of program.program.

Chapter 3: Chapter 3: I’ll Have What She’s HavingI’ll Have What She’s Having

Why any one will buy this?Why any one will buy this?

>Concept of Mirror Neurons>Concept of Dopamine

Dopamine

Mirror Neurons

Brodmann area 10

Chapter 4 –I can’t see clearly Chapter 4 –I can’t see clearly nownow

Concept of Subliminal Advertising:-Concept of Subliminal Advertising:-

BUREAUC RATS

Nucleus Accumbens

Chapter 5 –Do you believe in Chapter 5 –Do you believe in magic?magic?

Rituals,Superstition and Why we Rituals,Superstition and Why we buy?buy?

Number 13Number 13

Word “si”Word “si”

8/08/08 at 8:08:08PM8/08/08 at 8:08:08PM

Chapter 6 –I say a little prayerChapter 6 –I say a little prayer

Faith,Religion and BrandsFaith,Religion and Brands

Irish Soil

Holy Drinking Water

60 percent of the products we buy in 60 percent of the products we buy in the supermarket we choose the supermarket we choose spontaneously, and that 80 percent spontaneously, and that 80 percent of these we picked within just four of these we picked within just four seconds?seconds?

Choice between Dunlop,Bridgestone Choice between Dunlop,Bridgestone and Good Year. and Good Year.

Chapter 7 –Why did I choose you?

The Power of Somatic Markers

WTCWTC

ISKLIDE and CokeISKLIDE and Coke

Chapter-8 A sense of wonderChapter-8 A sense of wonder

Selling to our SensesSelling to our Senses

Today we are more visually over stimulated than ever Today we are more visually over stimulated than ever before and studies show that more over stimulated before and studies show that more over stimulated

we are the harder is to capture our attentionwe are the harder is to capture our attention..1)Coffee Shops1)Coffee Shops

2)Johnson and Johnson2)Johnson and Johnson

3)Nike3)Nike

Chapter 9-And the Answer Chapter 9-And the Answer is……..is……..

Neuromarketing and Predicting the Neuromarketing and Predicting the futurefuture

1)Traditional market research.1)Traditional market research.

2)Failure of Ford2)Failure of Ford

3)Failure of “Premier”3)Failure of “Premier”

Chapter-10-Let’s spend the night Chapter-10-Let’s spend the night together.together.

Sex in advertisingSex in advertising

1)Became Prominent with Calvein Klein (1980’s)- 1)Became Prominent with Calvein Klein (1980’s)- Can’t Can’t

show Picsshow Pics

2)Experiment of Sex and the City and Malcolm in the middle2)Experiment of Sex and the City and Malcolm in the middle

3)9.8%vs 20% for men and 10.85% vs 23% for Women3)9.8%vs 20% for men and 10.85% vs 23% for Women

Conclusion:-“Sex doesn't sell anything other than Conclusion:-“Sex doesn't sell anything other than itself”itself”

Chapter 11-ConclusionChapter 11-Conclusion

Brand New dayBrand New day

Buyology bears witness to an historic meeting between Buyology bears witness to an historic meeting between science and marketing .science and marketing .

Its is still in its infancy.Its is still in its infancy.

Christian dior,Unilever,Microsoft and many other companies Christian dior,Unilever,Microsoft and many other companies have started using ithave started using it

THANK YOUTHANK YOU