conacepts in mr

7/28/2019 Conacepts in MR

1/6

Zero Moment of Truth

This theory has obviously had substantial sway, but in the age of overbearing technology it might

not be as true.

Because of this a new theory has emerged; the Zero Moment of Truth.

Obviously influenced by the First Moment of Truth, the Zero Moment of Truth considers the

time before we step into the supermarket.

This means that we make our decision before we go to make the purchase; we do this through

watching advertisements, checking reviews on the internet, social media recommendations,

looking at product information on the business website, and so on.

Some of the best examples of ZMOT-savvy have been on the mobile-front.

Smartphones have completely changed the way people connect with a business.

Think about it - consumers are searching for store locations on the go, theyre

doing price comparisons in stores, theyre looking for information and making

phone calls. At home, they may be watching TV, see an ad for a cool new

product and buy it from the tablet on their laps. This is a brand-new ballgame

and ZMOT is a useful tool for businesses as theyre getting started.

First Moment of Truth

The First Moment of Truth (FMOT, pronounced EFF-mot), is the 3-7 seconds after a shopper

first encounters a product on a store shelf. It is in these precious few seconds, P&G contends,

that marketers have the best chance of converting a browser into a buyer by appealing to their

senses, values and emotions. And in fact, as P&G's original FMOT director Dina Howell (now

the CEO of shopper marketing mega agency Saatchi & Saatchi X) noted, there are actually two

moments of truth: when a browser first encounters a product in the store, and each time a

customer uses the product. As they best said way back in their 2002 Chairman's Address, "The


2/6

second moment of truth occurs two billion times a day when consumers use P&G brands. Every

usage experience is our chance to delight consumers."

When running a business it is important that you have a good understanding of how best to

market your product.

A common concept that has dominated modern marketing is the First Moment of Truth; this is

the moment of instantaneous interaction between customer and product in the supermarket.

It is said that this moment has more importance than any other in the customerproduct

interaction, and has the most impact on the customers choice.

According to Proctor & Gamble shoppers make up their mind about a product inthree to seven seconds, just the time it takes to note a product on a store shelf.

This time lapse is called (by P&G) first moment of truth and its considered

the most important marketing opportunity for a brand.

Van Westendorp's Price Sensitivity Meter

The Price Sensitivity Meter (PSM) is a market technique for determining consumer price

preferences. It was introduced in 1976 by Dutch economist Peter van Westendorp. The technique

has been used by a wide variety of researchers in the market research industry. The PSM

approach was a staple technique for addressing pricing issues for the past 20 years. It historically

has been promoted by many professional market research associations in their training and

professional development programs. The PSM approach continues to be used widely throughout

the market research industry and descriptions can be easily found in many market research

websites.

The traditional PSM approach asks four price-related questions, which are then evaluated as a

series of four cumulative distributions, one distribution for each question. The standard question

formats can vary, but generally take the following form:


3/6

At what price would you consider the product to be so expensive that you would notconsider buying it? (Too expensive)

At what price would you consider the product to be priced so low that you would feel thequality couldnt be very good? (Too cheap)

At what price would you consider the product starting to get expensive, so that it is notout of the question, but you would have to give some thought to buying it?

(Expensive/High Side)

At what price would you consider the product to be a bargaina great buy for themoney? (Cheap/Good Value)

Neuromarketing

Neuromarketing is a new field ofmarketingresearch that studies consumers'sensorimotor,

cognitive, andaffectiveresponse to marketing stimuli. Researchers use technologies such asfunctional magnetic resonance imaging(fMRI) to measure changes in activity in parts of the

brain,electroencephalography(EEG) andSteady state topography(SST) to measure activity in

specific regional spectra of the brain response, and/or sensors to measure changes in one's

physiological state, also known as biometrics, including (heart rateand respiratory rate,galvanicskin response) to learn why consumers make the decisions they do, and what part of the brain is

telling them to do it.

Companies such as Google, CBS, and Frito-Lay amongst others have used neuromarketing

research services to measure consumer thoughts on their advertisements or products.[1]

The word "neuromarketing" was coined by Ale Smidts in 2002.[2](Wikipedia)
http://en.wikipedia.org/wiki/Marketinghttp://en.wikipedia.org/wiki/Marketinghttp://en.wikipedia.org/wiki/Marketinghttp://en.wikipedia.org/wiki/Sensorimotorhttp://en.wikipedia.org/wiki/Sensorimotorhttp://en.wikipedia.org/wiki/Sensorimotorhttp://en.wikipedia.org/wiki/Cognitivehttp://en.wikipedia.org/wiki/Cognitivehttp://en.wikipedia.org/wiki/Affectivehttp://en.wikipedia.org/wiki/Affectivehttp://en.wikipedia.org/wiki/Affectivehttp://en.wikipedia.org/wiki/Functional_magnetic_resonance_imaginghttp://en.wikipedia.org/wiki/Functional_magnetic_resonance_imaginghttp://en.wikipedia.org/wiki/Electroencephalographyhttp://en.wikipedia.org/wiki/Electroencephalographyhttp://en.wikipedia.org/wiki/Electroencephalographyhttp://en.wikipedia.org/wiki/Steady_state_topographyhttp://en.wikipedia.org/wiki/Steady_state_topographyhttp://en.wikipedia.org/wiki/Steady_state_topographyhttp://en.wikipedia.org/wiki/Heart_ratehttp://en.wikipedia.org/wiki/Heart_ratehttp://en.wikipedia.org/wiki/Heart_ratehttp://en.wikipedia.org/wiki/Galvanic_skin_responsehttp://en.wikipedia.org/wiki/Galvanic_skin_responsehttp://en.wikipedia.org/wiki/Galvanic_skin_responsehttp://en.wikipedia.org/wiki/Galvanic_skin_responsehttp://en.wikipedia.org/wiki/Neuromarketing#cite_note-nytimes-0http://en.wikipedia.org/wiki/Neuromarketing#cite_note-nytimes-0http://en.wikipedia.org/wiki/Neuromarketing#cite_note-nytimes-0http://en.wikipedia.org/wiki/Neuromarketing#cite_note-1http://en.wikipedia.org/wiki/Neuromarketing#cite_note-1http://en.wikipedia.org/wiki/Neuromarketing#cite_note-1http://en.wikipedia.org/wiki/Neuromarketing#cite_note-1http://en.wikipedia.org/wiki/Neuromarketing#cite_note-nytimes-0http://en.wikipedia.org/wiki/Galvanic_skin_responsehttp://en.wikipedia.org/wiki/Galvanic_skin_responsehttp://en.wikipedia.org/wiki/Heart_ratehttp://en.wikipedia.org/wiki/Steady_state_topographyhttp://en.wikipedia.org/wiki/Electroencephalographyhttp://en.wikipedia.org/wiki/Functional_magnetic_resonance_imaginghttp://en.wikipedia.org/wiki/Affectivehttp://en.wikipedia.org/wiki/Cognitivehttp://en.wikipedia.org/wiki/Sensorimotorhttp://en.wikipedia.org/wiki/Marketing


4/6

Neuromarketing is the study of how people's brains respond to advertising and other brand-

related messages by scientifically monitoring brainwave activity, eye-tracking and skin response.

In one early neuromarketing study, Read Montague, a neuroscientist at Baylor College of

Medicine, used magnetic resonance imaging (MRI) to study what he called "the Pepsi Paradox."

The study was inspired by a series of TV commercials from the 70's and 80's where people wereasked to take "the Pepsi Challenge." In the commercials' blind taste test, Pepsi was usually the

winner. In Dr. Montague's study, subjects were fairly evenly divided between Pepsi and Coke;

however, when the subjects knew what they were drinking, 75% said they preferred Coke.Montague saw activity in the prefrontal cortex, indicating higher thought processes, and

concluded that the subjects were associating the drink with positive images and branding

messages from Coke commercials. In another study, at Daimler-Chrysler, researchers found that

the "reward" centers of men's brains were activated by sports cars, in a similar manner to the waythe same areas of the brain respond to alcohol and drugs.

The results of neuromarketing research can be surprising. InBuyology, Martin Lindstrom

documents a three-year study. Among his findings:

Warning labels on cigarette packages stimulate activity in a brain area associated with craving --despite the fact that subjects said that they thought the warnings were effective.

Images of dominant brands, such as theiPod, stimulated the same part of the brain activated byreligious symbols.

An image of a Mini Cooper activated the part of the brain that responds to faces.
http://whatis.techtarget.com/definition/magnetic-resonance-imaging-MRIhttp://whatis.techtarget.com/definition/magnetic-resonance-imaging-MRIhttp://whatis.techtarget.com/definition/magnetic-resonance-imaging-MRIhttp://searchmobilecomputing.techtarget.com/definition/iPodhttp://searchmobilecomputing.techtarget.com/definition/iPodhttp://searchmobilecomputing.techtarget.com/definition/iPodhttp://searchmobilecomputing.techtarget.com/definition/iPodhttp://whatis.techtarget.com/definition/magnetic-resonance-imaging-MRI


5/6

Are You in Autopilot Mode? (Good Article)

The other day I was at the Supermarket's checkout line, waiting for my turn to put my groceries

on, then my turn finally arrives, I began to put the groceries and greeted the cashier with a "Hi,

How are you?" and a big smile -- but wait she must be in trance or something! She not have

listened to me because she said "Hi, How are you?" and smiled back at me. Hmm -- weird -- not

really! I realized she is in Autopilot Mode (APM)! (Repetitive task and automatic thinking) Just

like the rest of us is in APM these days, right? Why? Too stress out and tired to answer even

simple questions? We are just thinking on what we are going to do later, submerged into our

own thoughts, worrying about everything. We don't have clear minds. We just go through life in

Autopilot Mode. Wake up in the morning to do the exactly same routine each and every day.

We eat the same things because we already know we like it, (Believe me, I know!!). But even if

you love your life the way it is and the things you do, you need to change things a little every

day to get off the routine train that picks you up when you wake up each day.

Lifestyle and a daily routine do affects your life and makes you be in Autopilot Mode. You can

start to break "the" habits by making small changes in your daily routine to boost your

confidence towards taking bigger steps. Things like taking a new route to go to work, eating a

different kind of cereal in the morning, giving your kids a big hug instead of just wave bye bye at

the bus stop, uh-oh, your kids are teenagers, got it, they don't like public hugs!, give them a hi-

five or whatever crazy gesture you want, just make it different. Or how about, calling or texting

your significant other in the middle of the day and telling them a joke!

Isn't it funny though, when two people ask "how are you?" and they both respond at the same

time "Good"! "Good!" And keep on walking. We should just answer honestly when they ask us

how we are doing. Maybe you are wonderful or maybe not so much, it's OK not to feel good

sometimes, we are only humans! And on those days is when we need the most to make things

just a little different to feel alive again. I want you to have a better life, a meaningful one, a life

filled with passion for the thing you love to do, even during those not so wonderful moments.


6/6

No more Autopilot Mode in your life. There are too many delicious fruits out there, to be eating

the same ones every day. Think of it this way, maybe you think you are an apple, crisp, and

sweet, sometimes tart; then, one day you try a pear, juicy, fragrant, and realize you are more

like a pear. After some time you come across an orange, bright, cheerful, now you are in some

serious business trying to figure out who you are, and that is the good part about trying new

things every day, at the end you get to know yourself a little better! The bottom line is you can't

do that in Autopilot Mode. So! Sing new songs, eat healthy new meals, and wear new colors.

Pick a new destination for you and your family's next adventure, and, Be free!

conacepts in mr

Documents