Fashion industry neuromarketing

33 %
67 %
Information about Fashion industry neuromarketing
Marketing

Published on February 4, 2014

Author: CamilleAvent

Source: slideshare.net

Description

marketing, neuromarketing, analysis, fashion, retail, neuroscience, market research

FASHION INDUSTRY NEUROMARKETING: STRENGTHENING MARKET INTELLIGENCE OPPORTUNITIES BY CAMILLE AVENT

INTRODUCTION Neuromarketing – new tool for the fashion industry to understand buying behavior • Tapping into the unconscious mind • Clearly defining brand attributes • Advanced marketing opportunities for the mass market

OVERVIEW OF DISCUSSION Structure of Problem Current Practices • Traditional Marketing vs. Neuromarketing Fashion Marketing Survey & Interview of Neuromarketing Professionals Define Consumer Behaviors • Marketing, Fashion Marketing, Neuromarketing Case Study Analysis Restructuring the Fashion Marketing Plan • JC Penney Neuromarketing Authors’ Interviews

HOW GREAT LEADERS INSPIRE ACTION • http://www.ted.com/talks/simon_sinek_how_great_leaders_inspire_action.html?utm_expid =166907-21

CONCEPT ANALYSIS Marketing Neuromarketing Fashion Marketing

CONSUMER BEHAVIORS (http://managementation.com/5-stages-of-consumer-buying-decision-process/ 2013)

SUPPLY CHAIN DRIVERS http://www.mtgl.com/services/upstream-services/supply-chain-compression.htm, 2013

MARKETING PLAN Mission Statement Corporate Objectives Marketing Objective Marketing Audit Marketing Strategy Marketing Plan Implementation Evaluation & Control (Easey, 2002)

“I know half money I spend on advertising is wasted, I just don’t know which half.” - John Wanamaker

THE GOLDEN CIRCLE (Lindquist, 2010)

STRUCTURE OF PROBLEM (Riley, 2012)

NEUROMARKETING ETHICS I. Core Principles II. Integrity III. Credibility IV. Transparency V. Consent VI. Privacy VII. Participant Rights IX. Subcontracting XI. Commitment VIII. X. XII. Children and Young People Publication Implementation

APPLIED NEUROMARKETING STUDIES Neuromarketing Test Technique Eye Tracking Pixel level eye tracking equipment Galvanic Skin Response Measures emotional engagement Electroencephalographic Sensors measure brain responses to stimuli at (EEG) 2,000 times a second, across a full brain Functional Magnetic Resonance Imaging (fMRI) Measures brain activity by evaluating cerebral blood flow and neuronal activity

BRAIN MAP (Rob D Young, 2013)

NEUROMARKETING IN THE AUTO INDUSTRY (Fabrega, 2010)

NEUROMARKETING IN THE FOOD INDUSTRY • http://vimeo.com/57779652

(Fabrega, 2010)

BASED ON WHAT YOU KNOW ABOUT CONSUMER NEUROMARKETING STRATEGIES, FROM MY RESEARCH, WILL YOU CONSIDER ADAPTING SOME OF THESE PRACTICES? (Avent, 2013)

LAWS OF DIFFUSION OF INNOVATION (Rogers, 1995)

“In setting up a business under the name and meaning of the Golden Rule, I was publicly binding myself, in my business relations, to a principle which had been a real and intimate part of my family upbringing. Our idea was to make money and build business through serving the community with fair dealing and honest value.” -James Cash Penney

Internal Factors Management Strengths Familiar with key factors of JC Penney core values Offerings Quality price driven brands and promotions Marketing Familiarity with traditional family core consumer Product Development Continuing efforts to ensure quality merchandise External Factors Consumer/Social Opportunities Secure market, likely to be stable Competitive Distinctive brand name and product breadth Technological Neuromarketing technological breakthroughs enable the company to tap into the actual consumer emotions Consumer income has stabilized; but the ‘best deals’ are still very important to U.S. households Economic Weaknesses Stagnant approach to reinventing methods to refresh brand loyalty Brand abandonment because of mid-price place in the market, consumers do not understand differentiation Disconnection with younger market who dominate current market share opportunities Failure to partner with brands at the right time for the right merchandise Threats Everyday Low Price, impedes on perception of current consumer Loss of core consumer to competitors because the company misdirected marketing communication Competitors have gained economies in advanced retailing ahead of JC Penney Consumer’s ability have more choice in the market

Add a comment

Related presentations

Brands are more invested today than ever before on curating and distributing paid,...

Marketers need to be creating and publishing original content across many differen...

As content marketing continues to increase in popularity in every industry, more m...

Il Direct Email Marketing (DEM) è una tipologia di marketing diretto che usa la po...

This presentation contains all 120 rules from Part 1 of the 2nd edition of "Email ...

Olá, somos o Paulo Bernardes e o Pedro Silvestre, temos uma ambição em comum de me...

Related pages

Neuromarketing Manager - HAMBURG MEDIA SCHOOL

Experiences with the Neuromarketing Manager. The program has been running successfully at institutions like the ISG Business School in Lisbon and the EEN ...
Read more

Neuromarketing - Wikipedia, the free encyclopedia

Neuromarketing is a field that claims to ... the electronics market and fashion industry. ... of the industry and the anxiety roiling ...
Read more

'Neuromarketing': can science predict what we'll buy ...

Fashion; Luxury; Tech; Film; Politics; Investigations; ... The neuromarketing industry isn’t just interested in what makes shoppers choose the ...
Read more

The use of neuromarketing techniques to create a positive ...

The use of neuromarketing techniques to create a positive effect on consumer buying behaviour for high-street fashion retailers : a neuromarketing overview
Read more

NeuroFocus Uses Neuromarketing To Hack Your Brain | Fast ...

These innovators are turning the fashion ... This bid for secrecy is entirely in keeping with the aura around neuromarketing, an industry that is both ...
Read more

Marketing has discovered neuroscience, but the results are ...

The idea behind neuromarketing is that the brain can reveal hidden and profitable truths, but this is misleading Marketing has discovered neuroscience and ...
Read more

Can Neuroscience Unlock the Luxury Mind? | Intelligence | BoF

For years, fashion and luxury companies have tried to anticipate and cater to the deep, subconscious desires of consumers. Can neuroscience help?
Read more

NeuroMarketing: High-impact Strategies - What You Need to ...

Lesen Sie NeuroMarketing: High-impact Strategies - What You Need to Know: Definitions, Adoptions, Impact, Benefits, Maturity, Vendors von Roebuck, Kevin ...
Read more

Camille Avent | LinkedIn

With experience across many roles in the fashion industry, ... Fashion Industry Neuromarketing. 2014. Authors: Camille Avent; Volunteer Experience & Causes.
Read more