By letting customers build their own products, IKEA is able to sell their furniture for low prices since construction is one of the most costly aspects of furniture. Additionally, their customers have a higher liking for the IKEA products, because they have to build it themselves. This sounds contra-intuitive: We like it when others cook for us or clean for us, so why would we prefer to construct a table ourselves?
Marketing and psychology are thick as thieves: by increasing their knowledge on psychology, marketeers are able to gain a deeper understanding in the behavior of their customers. However, keeping your knowledge up to date may be problematic in this quickly expanding field. In the past, people read books, scientific journals or attended conventions.
Reading books and online articles or attending conventions are a fundamental way of keeping your knowledge up to date. To stay on top of your game. But when do we – us busy human beings – find the time to sit down and just read a book? Or an article? Our lifestyle has changed so much that we hardly have any time left. But luckily for us, there are podcasts! With a simple press of the play button it is very easy to stay informed while you are for example driving to your next appointment or when you are in the gym.
Advertisers and researchers have long known of the effect that ambient music has in guiding a customer’s subconscious. New studies suggest that this effect also includes music volume, and that a simple turn of the volume button may significantly affect sales. That probably sounds like music to any managers’ ears!
So what volume should you adopt to boost your sales?
Let’s take a look at one of the latest findings on music volume and their implications for your food venture.
What does the typical neuromarketing study look like? Let’s visualize for a moment what typical respondents go through in the hour they visit the neuromarketing lab.
First and foremost, there’s some brain scanning device involved, such as EEG or an fMRI scanner. Secondly, there are marketing stimuli the respondent has to interact with, oftentimes tv commercials, websites or pictures.
Next, imagine what the lab looks like. In the case of fMRI, the respondent lies flat in a turbine-shaped machine. EEG is a simpler and more flexible technology, allowing for lab designs simulating a comfortable living-room setting.
But still, there’s one essential thing missing. One thing that’s present all the time in real life, but completely lacking in almost any neuromarketing study. The answer? Other people.