Read posts about marketing and market research on Sentient Decision Science’s implicit market research blog.
While brand name products in the healthcare realm seem to be losing ground to their generic counterparts, Pepto Bismol has added 0.7 market share points in its original formula and 2.5 market share points in stomach remedy tablets despite being priced approximately 60% more than private label products (source: Advertising Age). While Pepto Bismol brand […]
With the unemployment rate approximately ten percent, companies are forcing workers to take unpaid time off—a furlough. Having employees take vacation without pay allows the company to wait out the storm. Essentially, costs are cut while the number of employees remains the same—in a way. According to the U.S. Department of Labor Statistics, 2.3 million […]
Richard Thaler and Cass Sunstein wrote Nudge with optimism and dedication as primary tools while arguing for ways which we could improve our world. And there’s no government policy shift necessary – we only need to pay closer consideration to how we present decisions to individuals. The authors show how small changes in such “choice architecture” can produce big results. You might be surprised, but just by changing the order of food items in a cafeteria can increase or decrease the frequency which certain foods are selected by as much as 25%. Imagine, just from placing the vegetables at eye level in a prominent position in our school cafeterias and placing the Hostess delicacies on a hard-to-reach shelf (or even more sinister, hide them in a cupboard where students must open a door to access them), we could significantly improve our children’s diets.
The advent of the digital age and the ease of data storage and collection have been a true blessing for the market research industry. It’s easier than ever to get a glimpse of what consumers are doing simply by looking at web traffic statistics for different sites. The success of an online ad is at […]
Imagine the following scenario for a moment. You have been dating Brian for some time. He has been with you through thick and thin; your strong emotional connection can weather any storm. He is completely loyal and faithful to you. However, one day, you realize that his wealthy friend, Ryan, is pretty darn attractive. You […]