With a pool of 250 million potential consumers to tap into, what are the barriers we need to break down and how do we do it? The fashion market in India is a $70 Bn industry as per the Fashion Forward 2020 report by BCG & Facebook. Online is an important part of this industry which currently constitutes a share of approximately 5% or $3,5 Bn. With increasing internet penetration, this number is projected to touch $14 Bn by 2020 with more and more consumers moving online and increasing their share if online purchases, translating to roughly 12% share of the total fashion market.
Consumer insights are the vital element of effective marketing. Creating great communication, building a powerful brand in the age of behavioral economics requires you to understand your audience. Neuromarketing is an excellent extension to traditional survey research. Observing consumers behavior, analyzing their attention, brain reactions and emotional response you could develop the stronger connections with your target audience. For times, neuromarketing research was an expensive and exclusive service provided by specialized agencies. We change this, designing the automated neuromarketing platform for marketers and business owners. CoolTool is a new generation of DIY tools to get consumer insights. It's your multi-tool to measure both conscious and nonconscious consumers insight.
So you've heard a lot of talk about behavioural economics, but ever wondered if anyone's really using it? Find out in this session how a $12 billion brand has put behavioural economics based research at the heart of its new strategic direction. A global qual and quant survey of 30,000 people in six countries on four continents used psychological interviewing, implicit tools and priming to gain unprecedented insight into what hotel guests really want, how to give them unparalleled customer experience, and how to increase revenue.
So you've heard a lot of talk about behavioural economics, but ever wondered if anyone's really using it? Find out in this session how a $12 billion brand has put behavioural economics based research at the heart of its new strategic direction. A global qual and quant survey of 30,000 people in six countries on four continents used psychological interviewing, implicit tools and priming to gain unprecedented insight into what hotel guests really want, how to give them unparalleled customer experience, and how to increase revenue.
The use of games as a part of the qualitative toolkit, contrasting their use in market research with user experience, service design and design thinking, is addressed in this paper. The relevance of games and potential in Asia-Pacific is showcased trough the games and play that were used to better cased trough the games and play that were used to better understand motivations and behaviour in the finance sector in Indonesia. Furthermore demonstrated is how games are particularly relevant for Asia, that they reveal what Behavioural Economics states, and are a mechanism for teams to not just communicate new ideas but for stakeholders to vividly experience themselves.
The research showed that well-rehearsed 'patterns' of service in the channels explored tend to inhibit the desire to seek out something new when deciding on cold drinks, and they tend to result in consumers making these decisions in autopilot (system 1). Key to disrupting the status quo, they were what we termed, 'emotivators'. That is, disruptors or nudges that overcome default choices and the perceived risk of deviating from what is 'usual', safe and comfortable - and that engage consumers on a deeply emotional level. For example, we determined that personalisation in the small things (a name on the cup that indicates it was made just for them) or customisation (adding a shot of flavour) both cultivate positive emotions and make what are otherwise mundane experiences for the consumer all the more enjoyable and rewarding.