Consumer neuroscience research has led to some surprising findings:
Framing price or value
For example, one study reported on a magazine subscription where potential subscribers were offered two options: an online subscription for $59, or a combined online and print for $129 a year. Most people chose the online only option. However, when a third option was introduced: print only for $129 (i.e. the decoy), the online and print option seemed like better value and a significant number of people switched to that option. In other words, the decoy price assists in framing value.[150] Marketers use a variety of methods to frame value: e.g. quote monthly payment options rather than a single all-inclusive price.
Choice Fatigue
Research by Sheena Iyengar experimented with the number of gourmet jams on display. When consumers were faced with a large number of alternatives (24 jams), 60% of consumers stopped and looked but only a few (3%) actually made a purchase. However, when consumers faced with fewer brands (6 jams), were more likely to make a purchase with 30% going on to buy something. Similar results have been observed in other categories. The findings suggest that while consumers appreciate being given some choice, the process of making a selection is painful and can lead to choice fatigue.[151] An issue for marketers and retailers is to determine the ‘sweet spot’ where consumers are given sufficient choice to satisfy their desire for variety, but not become overwhelmed by it.
Decision Paralysis
One study examined the wording used to solicit philanthropic donations. Consumers were exposed to variants in the advertising copy execution: “Would you be willing to help by giving a donation?” and “Would you be willing to help by giving a donation? Every penny will help.” Those given the second option were almost twice as likely to donate. The researchers concluded that people are more likely to take action when given parameters. By clarifying that “even a penny” could make a difference, the second line provides guidance and makes the request
more achievable.[152] For marketers, the implication is that when asking consumers to take an action, specifying a small step helps to break through the action paralysis. This finding also suggests that even small differences in advertising copy can lead to improved outcomes.
– What is the project about?
TV ADVERTISEMENTS Television is often called “The King” of the advertising media, since a majority of people spends more hours in watching TV per day than spending time with any other medium and budget spending ad are heavily directed in this medium . It combines the use of sight, colour, sound and motion. TV has proved its persuasive power in influencing human behaviour from time to time. It is popular than any other media because of its creativity and impact, coverage and cost effectiveness, captivity and attention, selectivity and flexibility. The interaction of sight and sound offers tremendous creative flexibility and makes dramatic life like representation of products possible. TV commercials can be used to convey a mood or image for a brand as well as to develop emotional or entertaining appeals that help to make dull products appear interesting. PERSPECTIVES OF TV ADVERTISEMENTS Television is an audio – visual medium because one can both see and hear. This media is best for advertising and it has widest appeal. Television in our country has become very popular. The position of radiopublicity is now being gradually taken by TV advertising. TV provides a scientific synchronization of features such as sound, sight, motion and immediateness that no other medium is able to provide so far. That is why, TV is the best-selling method ever invented. A variety of techniques are available on TV for the production of commercial messages like live action, puppet show, cartoons, documentary films and use of music, which can increase the memorability and persuade the audience to buy the product.
Too often marketing is equated with just advertising or selling
As researches propose the consumer is divided in two parts. There are the ones that find advertising faschinating, in particular, the effects of subliminally presented messages in advertising. And there are others that consider consumer psychology to be evil and morally objectionable, in particular, the effects of subliminally presented messages in advertising (Wanke, 2009 pp. 3).
