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Tag Archives: Market Research
How are companies learning about you?
Antonio Bolfo/Reportage for The New York Times
Check out this article from The New York Times about what companies like Target may know about you and how they’re turning that information into profits.
Short on time? This video provides a short but interesting overview of the article.
Underestimate Emotion at Own Risk
In this interview, Netflix CEO Reed Hastings concludes that his mistake reflected “arrogance” and “underestimating the emotional attachment to Netflix” among Netflix customers. His answer highlights two important points relative to MindSight®. Emotion is critical to brand building and business decisions, such as price increases, are fraught with emotion. Companies like Netflix ignore this at their peril. “Arrogance” is not an option. The good news is that MindSight® can identify the emotional intensity and explain the motivations driving customers to brands like Netflix – and can do so quickly, cost effectively and with thousands of globally dispersed respondents. It’s not that customers won’t expect or ever accept price increases. They do and will if it’s handled correctly. MindSight®can help companies correctly understand the emotional attachments customers have to their brand, providing guidance about how to better manage rollouts like the Netflix one and avoid fiascos.
Mobile Marketing in the Modern World
With the rise of smartphone usage among adults in the U.S. providing instant access to all types of media, marketing researchers are realizing the potential for gauging consumer opinions directly before, during, or after a purchase. In contrast, traditional online surveys rely on respondents’ memories of using or purchasing a product/service; depending on how long ago that purchase was made, the accuracy of responses can decline as memories fade. For example, if respondents are asked to think about the last time that they purchased toothpaste and it was over a week ago, they probably won’t remember where it was purchased, why it was purchased, or how much they spent on it. However, if respondents are asked this on their smartphones immediately after purchasing toothpaste, they should be able to answer survey questions more accurately since the purchase is still fresh in their minds. The prospect of gaining more accurate survey data “in the moment” is thus very compelling.
However, with this new way of reaching respondents, a new set of challenges have arisen such as privacy laws, data/texting charges, and system compatibility issues with the numerous types of smartphones. How to make sense of it all?
That’s where the Mobile Marketing Research Association (MMRA) comes in. In January of 2012, the MMRA launched with the mission to “unite and serve the industry in developing best practices, professional standards and ethics regarding the use of mobile devices for marketing research.” One way in which the MMRA practices this goal is by hosting the Market Research in the Mobile World conference, which unites market research professionals around the globe in order to share new insights and technologies related to mobile marketing, in addition to building best practices and a vision for the future. This year’s conference is being held on April 18th and 19th in Amsterdam. If you plan to attend, check out David Forbes’ session entitled “Developing a mobile platform tool for assessing consumer emotional states in target lifestyle moments,” where he’ll discuss applying MindSight technology to smartphones as a way of determining consumer emotions right at the point of purchase.
To learn more about the Market Research in the Mobile World conference, check out http://www.mrmw.net/.
Be sure to check out the recent launch of MindSight Mobile.
The “Thrill of the Chase”…
NielsonWire recently reported that the “best-liked ads of Q3 2011 depict the pursuit of love”. According to Nielson, the appeal of ads like this one
from Chevy (which was the #1 new Q3 ad most liked by women), is the “thrill of the chase.” These findings from Nielson are based on respondents liking an ad “a lot.”
This stated measure obviously provides useful information. Yet, studies where techniques like MindSight® are able to get at information beyond what the respondent reports in standard question batteries, reveal that there may be a whole other world of emotional information we are often missing.
Video in particular is a medium quite adept at inspiring emotion. We sit on the edge of our seats when the detective is about to name the culprit in a murder mystery, or jump when a ghoul pops out during a horror flick. In the ad from Chevy, there is a feeling of suspense as the “marry me” banner flits by in the background followed by chagrin when we realize the girlfriend has missed it.
In fact, in their report Nielson notes that the underlying theme of the most popular ads seems to be an emotional one, a “thrill.” Thus, how much more powerful would it be to find out what a respondent’s emotional reaction to and feelings about an ad might be in addition to how much they liked it?
Learn more about MindSight
Do Video Games Make Kids Violent?
By Ric Dube
In a roundup of psychiatric research on the topic, TIME magazine declared this month that “video games don’t make kids violent.” Somebody is bound to take issue with that.
Similar to the question of whether wine is good or bad for the blood, expert opinions on this issue are batted back and forth in a perpetual game of research tether ball by sides never satisfied with results.
It’s asking a lot to prove that video games make kids violent because popular culture is a chicken-and-egg combination of attitudes and commerce. It may be more revealing (or at least amusing) simply to note certain social attitudes that have dovetailed with video game culture.
LOVE them or HATE them – Performance Review Time is Here!
By Jessica Azoulay, Managing Director
It’s that time of the year again, time for the dreaded annual performance review. I can hear the moans and groans from here. The question I have is why? Is it the formality of the situation, the unknown, the work involved in preparing for the review? Seems as though it should be a good time, a time when we feel a sense of validation, “Check me out, look what I have accomplished this year.” 
Reminds me of grade school and the day the report card came home…the same feeling, maybe a few butterflies? For some reason, it’s often not the same. The anticipation of the performance review is enough to cause absolute fear among many employees. As managers, it’s our job to help ease this fear. We all probably know the individuals who will be most debilitated by this fear…we should reach out to these employees well ahead of the review. Easing their fear ahead of the review will benefit both the employee and the manager – it will not only make the communication more effective, it will also make the review more enjoyable! Perhaps consider meeting with the employee ahead of the performance review to discuss the following:
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Work together on choosing a good day and time for the review (when the employee and you are completely focused)
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Let them know the planned flow of the meeting (make sure they are comfortable with the flow, if not, consider making some changes)
Ask Sig: Motivating Patients and Doctors
Dear Sig,
As a Brand Manager for a prescription medication about to go into clinical trials, I’m worried that when we ultimately go to market we won’t understand which benefits will motivate patients to mention this to their doctors, and which benefits will motivate physicians to prescribe…and to make matters worse, even if we do find out what’s important, I’m having terrible dreams that the FDA won’t let us talk about the most important benefits.
Sincerely,
Sleepy in Saratoga
Dear Sleepy,
I know things move fast in your industry so kudos for your forethought, dear reader. Luckily, I know a lot about dreams and what they mean…and, as it turns out, I’ve dabbled in pharmaceutical marketing, too.
Right before I turned 30, I researched the medical effects of coca. I started my project by first talking to my town physician and my neighbors. We sat in my living room together and talked about wellness and medical ailments. I then came up with a short list of points I thought were worthy of communicating about coca and how it can improve the body. I asked the mayor, Andreas, to approve my ads for use in a few gathering places. Since I could tell him the community leaders came up with the list, and promise to encourage its infrequent use, he was on board.
Start Spreadin’ the News
“We’re gonna make a brand new start of it, And if we can make it here, We can make it anywhere…” MindSight’s® official launch was posted for all to see in the bright lights of Time Square. We think it’s “…the king of the hill and the cream of the crop” and we’re very excited to share this ground breaking neuromarketing tool with world. There is no better place to start than old New York, New York.
Dr. Jeremy Pincus Named Recipient of PMRG’s Prestigious “Marketing Researcher of the Year” Award
We are proud to share that company Principal Dr. Jeremy Pincus was honored with the coveted “Marketing Researcher of the Year” Award by the Pharmaceutical Marketing Research Group (PMRG) at the institute’s Fifth Annual Meeting being held this week in Jersey City, New Jersey. Pincus was presented with the award during the Awards’ Ceremony and Dinner Monday evening. Recipients must demonstrate leadership, business impact, research innovation and commitment to healthcare market research to be considered for the award. Congratulations!
Dr. Jeremy Pincus receiving award from PMRG President, Colleen Foley
PMRG Award 2011
Jeremy Pincus, Principal and Quantitative Team Leader, was just announced as PMRG’s Marketing Researcher of the Year. His hard work throughout the industry has lead to this high honor, and we’re excited to share the news. Congratulations!
