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marketing research

Six Market Research Trends to Watch in 2016

Kirk Hendrickson considers the trends that will impact market researchers and clients in 2016 in this Media Post article. Ad spending will continue to move to mobile, brands will increase efforts to measure the “experiencing-self” of consumers, consumers expect to “buy anything, anywhere” in the new shopping landscape, big data keeps getting bigger, the increase in video spending parallels the increase in video consumption, and in-store experience is more critical than ever.

Research will be more flexible, customizable, and focused on the “experiencing–self.”  In addition, researchers will continue to incorporate innovative technology into their research offerings, and to create a cohesive story for their clients.

See all 5 Cups articles.

 

How Advertising Works: Building Brands in the Brain

Gayle Fuguitt, CEO and President of The Advertising Research Foundation, provided an overview of this presentation by Dr. Horst Stipp, EVP, Research & Innovation: Global & Ad Effectiveness at The Advertising Research Foundation.

Dr. Stipp’s presentation, “Improving Ad Creative and Ad Effectiveness Through Neuromarketing Research” included an overview of the evolution of Neuromarketing.

Conclusions from Neuro 1 and 2 research:

-”Strength of neuromarketing methods lies in their ability to uncover emotional reactions better than other methods.”

-Neuro + “traditional” methods can improve the predictive power of an ad test significantly.

Biometric/Neuro methods should be considered for a variety of research needs and business objectives including:

-Ad creative

-Websites

-Packaging

-In-store placement

-Price points

-Product design

-Brand tracking

In addition, eye tracking reveals that viewers pay attention to ads while they fast-forward through commercials.  Eye-tracking and EEG tests enabled the Ad Council to make a campaign message more effective.  In another example, an SST study demonstrated the need to connect entertainment and the branding message in a campaign for Evian.

Dr. Stipp concluded his presentation with these points:

-Neuro research reveals that emotional relevance drives attention, involvement, memory, wanting/liking, and purchase intent.

-Biometrics and neuro research can provide the insights that will result in the delivery of quality creative in a faster, more scalable fashion.

Additional support for the effectiveness of neuro research for advertising campaigns was provided by the following presentations:

“From the Front Lines: Buyers” presented by Daniel Slotwiner, Director, Advertising Research, Facebook; Manvir Kalsi, Senior Manager, Innovation Process & Research, Samsung; Patty Goldman, VP, Research Director, The Advertising Council.

These presenters discussed the emotional engagement and memory activation of custodial and noncustodial fathers in response to the “Father Involvement Campaign.”

“Speed to Scale: Sellers” presented by Dr. Carl Marci, Chief Neuroscientist, Nielsen Consumer Neuroscience, Nielsen; Pranav Yadav, CEO, Neuro-Insight US Inc.

Discussion highlighted the need for the integration of multiple tools to enable ad optimization including: EEG, core biometrics, facial coding, eye tracking and self-reporting.

“The Future: The Investor Perspective” presented by Dave Kohl, CEO, Morgan Digital Ventures, who concluded that “visual insights that make you more money from real people paying attention.”

Ask Customers for Predictions, Not Preferences

An article in Harvard Business Review suggests that prediction markets can provide a more accurate read of consumer preferences. While purchase intent may be overstated in survey responses, this gamified approach asks people to invest in answers to market research questions. “As with the stock market, the theory is that if you enable people to put their (play) money where their mouths are, you’ll get a truer picture of what is likely to have value in the real market.”

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