NEW YORK, March 22, 2011 /PRNewswire/ -- Today at its annual convention, Re:think 2011 – Managing the Complexity Maze: Insights as the Navigator, the Advertising Research Foundation (ARF) unveiled findings from the first phase of its NeuroStandards Collaboration Project, an independent review of current neuromarketing methods, the science underlying those methods and the validity of the conclusions. In addition, a plan to continue this process and provide an "Expert Review Network," a network of independent experts to assist users of this research, was announced.
Results of this collaborative study, when fully completed, will develop standards in an emerging field that, when implemented, can help media, marketing and advertising researchers better understand how consumers react to advertising from a scientific perspective and use this knowledge to make smarter marketing decisions.
Neuromarketing garnered nationwide attention in 2003 when Read Montague, a neuroscientist at the Baylor College of Medicine, conducted a series of experiments known as the "Pepsi Challenge" using neuroscience technology to study brain activity to explore consumers' beverage preferences. Since then, there's been a significant increase in vendors employing neuromarketing, as well as in the kinds of methods and analysis techniques used in marketing research. Neuromarketing's use, however, has become problematic for marketers to assess what is actually based on the science underlying these methods and what is interpretation, according to the report released today.
Presented by Horst Stipp, EVP, Global Business Strategy at the ARF, Duane Varan, Ph.D., CRO, The Disney Media and Advertising Lab, and Richard Thorogood, director, Insights & Business Analysis at Colgate-Palmolive, the study worked with eight neuromarketing vendors across three continents to poll 18-to-49-year-olds on reactions to a series of eight commercials. Participati
|SOURCE Advertising Research Foundation (ARF)|
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