Updating the packaging of a popular brand can be a risky move. While it may attract new customers, it could also alienate loyal ones who are attached to the old design. That's what happened for #Tropicana which saw their sales drop by 20%!
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After several unsuccessful attempts, the @BensOriginal brand was able to change its brand name without it being noticed. And you, did you notice it? If it's not, this confirms that the brand has solicited your thinking #S1 ! #MKTINGNEURO#NMKTRCH#XperentialMkt@lets_NEUROmkt
While #McDonalds is changing the red color of their logo to green to appear more eco-friendly, their actions tell a different story. From excessive packaging to meat production, their operations have a significant impact on the planet 🌎😅
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Despite brands' effort to control the narrative around their brand identity, the public-created brand image will have the final say. Authenticity is key to avoiding backlash, like these brands accused of #greenwashing.
@lets_NEUROmkt#NMKTRCH#MKTINGNEURO#XperientialMkt
A way that marketers can use anchoring is by setting an initial, high price for a product, even if they plan to eventually lower it. This will increase its perceived value (higher quality) in the minds of consumers. @lets_NEUROmkt#NMKTRCH#MKTINGNEURO#XperientialMkt
Why spend all your money on a gym membership upfront when you can spread out the pain over 12 easy payments? + you'll stay motivated as you watch the money fly away each month and you'll get the abs of your dreams😎
#NMKTRCH#MKTINGNEURO@lets_NEUROmkt
💡 Did you know our brains have 2 systems for thinking? 💡 System 1 is fast, intuitive and automatic while System 2 is slow, deliberate and logical. Understanding these systems can help you create effective marketing campaigns!
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Consumers are more likely to buy when the price of a product ends in .99. This is based on the theory that because we read from left to right, the first digit of the price resonates with us the most. 💡🤓
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There are many models to describe consumer behavior. An interesting model to apply in the case of B2B marketing is the VALS model which distinguishes 8 different categories. So, which one do you identify with? 🧐
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Thanks to @lets_NEUROmkt we discovered a new perspective on brand advertising. In its ad, Survey Monkey addresses to the achievers by involving the 3 layers of the brain 🧠
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https://t.co/9ez65NewFE
Exaclty 🙌In particular, the primitive brain is associated with survival; the limbic with emotions and finally the Neocortex with language and analysis 🧠🤓
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The “Triune brain theory” proposes that the human brain is composed of three distinct evolutionary layers -Primitive, Limbic, and Neocortex,each with its own functions and behaviors.
@lets_NEUROmkt#NMKTRCH#MKTINGNEURO#XperientialMkt
However Nike's image has recently been damaged by reports of forced labor by Uyghurs. It's time for companies to prioritize ethical sourcing and take responsibility for their supply chains!
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In Nike’s case, its instantly recognizable logo or its idea of empowering athletes are examples of identity, while the perception that Nike is an innovative, trendy, and socially conscious company its image. @lets_NEUROmkt#NMKTRCH#MKTINGNEURO#XperientialMkt
People use comparisons to make decisions. Other options (like the pre-sale price) become the parameters against which we evaluate our choices, which is why that discount always feels like such a bargain (even if it isn't)!
@lets_NEUROmkt#NMKTRCH#MKTINGNEURO#XperientialMkt
Scarcity is like a magician's trick. It can create the illusion of something special, but in reality it's just smoke and mirrors. Don't be fooled by the hype and make informed decisions based on actual value, not just perceived scarcity!
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#SocialValidation can be a double-edged sword: It can build credibility for a brand BUT it can also create a bandwagon effect where people follow the herd blindly. Before jumping on the train, make sure it's headed in the right direction.
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Your brand #identity is who you really are, while your #image is what your audience perceives of you. Strive for authenticity in your identity to build a lasting, authentic image that resonates with your audience.
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The brand #Patagonia is another example as they are promoting a lifestyle of environmentalism and sustainability while selling high-quality products for outdoor activites that are built to last 🌱🌎
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what do we think of when we think of the brand Vans? In sport, skate and young people. This would be the lifestyle of the brand. Which other examples can you think of? #NMKTRCH#MKTIGNEURO#XperientalMkt
A lifestyle brand is a company that sells prod/serv that are associated with a particular way of living or image or attitude, and promote a specific lifestyle, values, or identity to appeal to a target audience @lets_NEUROmkt#NMKTRCH#MKTINGNEURO#XperientialMkt