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How to recover market share using neuroscience insights.

Caso: How to recover market share using neuroscience insights.

How come a very well know and positioned meat store brand with the best meat quality in the market and more than 40 years of experience is having sales problems and a lot of complaints from its clients?

At the end of 2016, Neurons Inc LatAm, ran a neuromarketing study to understand the emotional and cognitive response toward our client´s meat store brand and the level of preference between it and two competitors’ brands. The aim of the study was to find the reasons why the brand is less preferred and by whom and how should be the new image of it to be able to design and execute a marketing campaign focused on recovering market share and consumers´ first choice (preference).

Method
For the purpose of the study the sample size was 35 participants: 50M / 50W, between 26 and 55 years old, with monthly income between US$3,000 and US$8,000. All participants filled a consent form previous to participate in the study.
To measure the emotional y cognitive response, we used an EEG B-alert X10 and a stationary Tobii X2-60.

The hypothesis and assumptions for this study were:

1 Brand preference has an impact on whether the brand was seen or not. The more a brand is disliked or liked, the more likely it is that the brand is detected and recognized, regardless of how well known is the brand.

2 The stimuli with higher motivation and arousal scores (higher than 0.5 on both scores) and also optimal cognitive load score (between 0.55 and 0.75) have higher positive

For the study, we design a Neuroequity test, to measure the subliminal emotional and cognitive responses as an indicator of “gut feelings” to brands, to asses changes in brand emotions, and measure brand associations. It consisted in showing the different brand’s logos randomly, every logo was shown at three different times: at one hundred milliseconds (100 ms), five hundred milliseconds (500 ms) and at nine hundred milliseconds (900 ms).

Results
The results of the study showed that when the Client’s brand logo was shown to the participants at one hundred milliseconds, 44% of women were able to recognize the Brand in compare to only 13% of men. On the other hand, 50% and 69% of men recognized Competitor´s brand 1 and Competitor´s brand 2, respectively, faster than the client´s Brand. Competitor 3 was not recognized at all. These results suggest that the client´s Brand has a high preference by women but not by men.

When the client´s Brand was showed at 500 milliseconds, arousal dropped from 0.5 to 0.4 and motivation from 0.75 to 0.55. This finding suggests that the client´s Brand had lower perceived value when the response is more conscious, which means that the Brand most have some negative associations that decrease the emotional response.

The final results showed that the client brand needed to work on the male market segment in order to have a better preference and recognition, which mean that they had the need to change the old fashion image they had (logo, sales material, ads, billboards, signs, etc) for an improved one.

After the results presentation, a whole new brand image was designed for the client which is more focused on catching back the attention and preference of male consumers that are willing to pay a better price for a higher perceived value meat brand.

In January 2017 we started the execution of the new marketing campaign. At the end of 2017, 60% of followers in social networks (Facebook, Instagram, Twitter) were males between 25 and 45 years old. Monthly sales increased an average of $15,000 per store. The client opened 3 new stores; now they have 7. All new stores got profit from the second month on. All existing stores were renovated completely with the new image and Brand concept.

Conclusions

2 Neuro-results need to work hand to hand with good and well-done marketing strategies to be able to maximize the strengths.

3 Before the marketing campaign, the clients´ brand was only preferred by women. At the end of 2017, after executing the marketing campaign aligned with the neuromarketing study results and recommendations, the client’s brand awareness, preference, and sales increased, especially in the male segment.

 

Final Thought

A well-conducted neuromarketing study could be one of the best tools to get specific information about the problems that a certain brand is having. Aligning those results to the marketing and communication strategy, based on unconscious perception and decision making, and aiming for the specific market segment was confirmed to be a strong, efficient and effective way to operate.

BRIEF

Cliente:

Procasa

Desarrollo:

Neurons Inc LatAm

Año:

2016

Servicios prestados:

Neuro Investigación, Re-branding, Identidad, Campaña estratégica, Mercadeo y Publicidad.

Sitio web:

http://procasa.com.gt/en/