Marketing Advisory, Strategy and Analytics
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The launch of a new or altered product comes with both the opportunity for great success and equal chance of abysmal failure. Many firms spend inordinate sums of money on research and development for products, after such significant investment it is unsurprising that products are often launched or changed irrespective of sales projections.
Reading words associated with the elderly such as old, lonely, traditional, bingo, forgetful and conservative has been found to cause people to walk more slowly afterwards (Bargh, Chen & Burrows, 1996).
As marketers, we have all innocently told our fair share of fairytales as we have grappled with market ambiguity. Some of our Fairytales have happily turned out to reasonably approximate market behaviour, whereas others have ranged from oversimplifications to unintended fabrications.
In advertising, evidence shows that creativity and human judgement are steadily giving way to statistics. The signs are all around us. Take for example the journey of media mix optimization from 40 years ago to today, with attribution modelling now undertaken exclusively by media analysts.
If Robert Heath is right, a large part of every dollar spent on advertising-related marketing research is a waste of money. There are few fence-sitters when it comes to the ideas of UK communications specialist and academic Robert Heath. Heath believes that television advertisements are more effective if they are processed with low attention; he calls this concept the ‘Low Attention Processing’ (LAP) theory.
Survey questionnaires remain the most prevalent mode of data collection in marketing research, but has their high use resulted in diminished errors? Perhaps it is timely to revisit not the strengths – we know there are many – but the weaknesses that we should be cognisant of when analysing data collected using survey questionnaires.
Ken Roberts, Managing Partner and Founder of Forethought Research talks about the Creative’s challenge to understand the discrete emotions that drive purchase behaviour; the inventory of those emotions; and how effective the communication is at eliciting those emotions.
Rapport is a familiar concept, used in everyday conversation to describe interactions with people. Psychologists try to develop rapport with their clients; sales representatives use rapport to deepen their relationship with customers and increase sales; and new acquaintances gauge the presence of rapport to infer the future of their relationships.
To say that consumer’s online behaviour has transformed dramatically over the last ten years would be an understatement. From the simple and innocent ICQ chat rooms and MSN messenger, to the rise of Facebook, Twitter and youtube.com, the online community’s interaction with online content has shifted from basic information search and communications to one where you could run your entire life, complete tasks and pay bills without having to leave the comfort of your bed.
Academic and industry evidence have shown that excessive questionnaire length (i.e. more than 15 minutes) has a negative effect on data quality, as measured by data reliability, variance and validity (Galesic and Bosnjak, 2009; Marcus, Bonsnak, Linder, Pilischenko and Schütz, 2007). These studies also present evidence that the completion rates for online questionnaires drops off significantly as the length of time taken to complete the questionnaire increases (i.e. the completion rate for a 10 minute survey was 67.5%, while a 30 minute survey had a completion rate of 18.6% (Marcus, Bonsnak, et al., 2007).