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    Consumer Behavior - Overview: Prof (DR) Shashi Singhal Dean - Socm RNB Global University

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    Lavesh Sethia
    The document discusses consumer behavior and decision making. It notes that consumers make decisions both consciously based on logic and unconsciously based on emotions. It also discusses how big brands like Kingfisher, Kodak, and Nokia failed due to large marketing mistakes as technology changed. The document then provides several examples of products that failed in India like Bisleri soft drinks, Taxi4Sure, and the Volkswagen Beetle. It also discusses neuromarketing and how it studies unconscious consumer decision making using tools like fMRI and EEG to better understand consumer brain responses to advertising.

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    Consumer Behavior - Overview: Prof (DR) Shashi Singhal Dean - Socm RNB Global University

    Uploaded by

    Lavesh Sethia
    6 views37 pages
    The document discusses consumer behavior and decision making. It notes that consumers make decisions both consciously based on logic and unconsciously based on emotions. It also discusses how big brands like Kingfisher, Kodak, and Nokia failed due to large marketing mistakes as technology changed. The document then provides several examples of products that failed in India like Bisleri soft drinks, Taxi4Sure, and the Volkswagen Beetle. It also discusses neuromarketing and how it studies unconscious consumer decision making using tools like fMRI and EEG to better understand consumer brain responses to advertising.

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    1 unit 1 Lecture 1

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    The document discusses consumer behavior and decision making. It notes that consumers make decisions both consciously based on logic and unconsciously based on emotions. It also discusses how big brands like Kingfisher, Kodak, and Nokia failed due to large marketing mistakes as technology changed. The document then provides several examples of products that failed in India like Bisleri soft drinks, Taxi4Sure, and the Volkswagen Beetle. It also discusses neuromarketing and how it studies unconscious consumer decision making using tools like fMRI and EEG to better understand consumer brain responses to advertising.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    6 views37 pages

    Consumer Behavior - Overview: Prof (DR) Shashi Singhal Dean - Socm RNB Global University

    Uploaded by

    Lavesh Sethia
    The document discusses consumer behavior and decision making. It notes that consumers make decisions both consciously based on logic and unconsciously based on emotions. It also discusses how big brands like Kingfisher, Kodak, and Nokia failed due to large marketing mistakes as technology changed. The document then provides several examples of products that failed in India like Bisleri soft drinks, Taxi4Sure, and the Volkswagen Beetle. It also discusses neuromarketing and how it studies unconscious consumer decision making using tools like fMRI and EEG to better understand consumer brain responses to advertising.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 37

    Consumer Behavior

    - Overview

    PROF (DR) SHASHI SINGHAL


    DEAN – SOCM
    RNB GLOBAL UNIVERSITY
     The most complex puzzle for any brand is to understand how their customers
    make a buying decision. Do they make decisions consciously based on facts,
    reason and logic? Or Do they make decisions unconsciously based on emotions,
    feelings and intuitions?
     In this age of rapidly changing technology either you have to adapt the
    change with time or you fail. Those who refuse to improve become
    redundant and irrelevant to the industry one day.
     This case study talks about how fairly large marketing mistakes of big
    brands leaded to their devastation. If we come to seek examples there are
    many, yet here we have picked up 3 known names, Kingfisher, Kodak and
    Nokia, whose stories are mere enough to let you know the failure reasons.
     [Case Study]: Big Brand Failures; Lessons To Learn From (dsim.in)
    c
     Slumdog Millionaire is the story of Jamal Malik (Patel), an 18 year-old
    orphan from the slums of Mumbai, who is about to experience the
    biggest day of his life. With the whole nation watching, he is just one
    question away from winning a staggering 20 million rupees on India¹s
    "Who Wants To Be A Millionaire?“

     Slumdog Millionaire, British dramatic film, released in 2008 and directed by 


    Danny Boyle, that won eight Academy Awards, including those for best picture
    and best director, as well as several BAFTA awards and Golden Globe Awards,
    including those for best film and best director.
     And Slumdog could hardly be more cross-cultural: showing different religions,
    castes and creeds. Also it shows the divide between rich and poor which exists in
    India.
    Diversity in India

     India is a state of diverse cultures, religions, traditions and


    beliefs. The country is home to millions of people who exhibit
    diversity in their thoughts, lifestyles, worship and work.

     The dance, language and food of its 28 states and Union


    Territories differ distinctively from each other.
     Bisleri Pop
     The mineral water giant launched soft drinks in various flavours such as Pina
    Colada, Spyci, Limonata, Fonzo but died due to lack of acceptance from the
    audience.
      Taxi4Sure
     Acquired by Ola, India’s largest taxi aggregator Taxi4sure was shut down due to
    poor market conditions. 
     Kizashi
     Manufactured by the Japanese automaker Suzuki, the car died a not too slow
    death for being overpriced. 
      Volkswagen Beetle
     With an expensive price tag, the overpriced car failed the Indian market with a
    sale of only 500 cars.
     The Tata product is the perfect example for marketing gone wrong. While the
    car was indeed a remarkable innovation, it being marketed as the “Cheapest car
    of the nation” backfired. 
    Pepsi blind test conducted by montague in 2004
    To no one’s surprise, coca cola

    If people prefer the taste of pepsi than why coke?


     There was a study in 2004 that shows how CocaCola’s marketing has marked our
    brains with emotions. These emotions involved good thoughts, positive feelings
    and great memories. 
     In this study, volunteers were asked to drink either Coke or Pepsi. 
     So, this study shows us the unconscious changes in our brains when we think of
    popular brands like CocaCola. It shows the changes in our brain when we think
    about the brands with whom we are connected. This study also demonstrates that
    how our thoughts, feelings and memories can unconsciously change our
    experience with the decision making of a product.
    Neuro marketing

     Marketing has moved beyond the concept of identification of needs


    - subconscious decision making
    If I ask you who is your favourite hero, you may say – Sharukh khan but on cross
    questioning – Amir Khan?
    1)Has it ever happened – Shopping list – discount offer on tide –
    2) McDonald – Happy meal offer
    3) Laptop
    So does a customer know his mind?
    Resources used -

    1. Functional magnetic Response Imaging

    To measure specific types of brain activities in response to advertising message

    The pepsi challenge gave neuro marketing a greater publicity and now all big
    companies like nestle, P & G and GM are trying to study the intricacies of cb based
    on FMRI

    So the premise is simple. Consumers can lie but algorithms don’t. It says 95% of all
    thought occurs in our subconscious mind.
    Neuro Marketing

    • Neuro marketing is the branch of neuroscience research


    that aims to better understand the consumer through his
    cognitive processes

    • “Applying the methods of neurology lab to the question of


    the advertising world” (Thomson, 2003)
    Resources used -

     FMRI –
     Facial Expressions Monitoring
     Electrodermal Activity
     Response time
     Respiration and Heart rate
    Neuro Marketing
    Tools

    Recording Metabolic Recording Electrical Without recording Brain


    Activities in Brain Activities in Brain activities

    Electroencephalography
    Positron (EEG) Eye Tracking
    Emission
    Tomograph
    y (PET) Magneto encephalography
    (MEG) Skin Conductance

    Steady State Topography (SST) Facial Coding


    Functional
    Magnetic
    Resonance
    Imaging (FMRI) Transcranial Magnetic Facial
    Stimulation (TMS) Electromyograph
    y

    Classification of Neuro Marketing Tools


    Functional Magnetic Resonance Imaging
    (fMRI)

    • It allows measuring brain activity while subjects


    perform certain tasks or experience marketing stimuli,
    searching for patterns
    Electroencephalography
    (EEG)
    • EEG measures electric product of the brain activity,
    when brain undergoes any stimulus.
    • A number of electrodes (up to 256) are placed on the
    scalp of the subjects, in certain areas, in order to
    measure and record the electricity for that certain spot.
    What is neuro marketing?

     Formal study of brain’s responses to advertising and branding and adjustment of


    those messages to get a better response.
    EEG Headsets
    Process of Learning

    Short Term Long Term


    Memory Memory
    (5-6 hours) (Lifelong)

    The process of learning, or memory formation, involves


    transferring information from short term memory to
    long term memory.
    Conceptual Framework of study
    Expected Results
    • Help to understand the brand recall pattern of individuals
    after viewing the advertisements with and without social
    messages (Cause related advertising)
    • impact of advertisement with and without social
    messages on the short term and long term memory of
    human beings
    • Managers would be able to choose better advertising
    strategy for their advertisements

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