PGP 2004-2006 : Term-V
Neuro Marketing
Faculty: Mr. Biju Dominic <b.dominic@mudra.com>
COURSE OUTLINE
Objective
90% of what we now know about the brain has been found in the last 10 years. This surge of new knowledge has created paradigm shifts in the knowledge bases of fields, as diverse as medicine, finance, computer hardware designs, etc. Very little of this knowledge has been utilized to better understand the consumer and so develop better marketing strategies. The attempt of this course is to expose the students to some of these new knowledge and then help arrive at newer techniques of persuading the consumer.
Course Content
- An understanding of the basis of present day marketing theories
- Factors that influences the need for a new Marketing thinking
- An understanding of Heuristics- the world of cognitive shortcuts
- Influence of Heuristics in management decisions
- Analyzing the common Heuristics principles used by persuasion experts such as
- God men, beggars, politicians etc.
- Why does heuristics happen?
- A physiological understanding of the brain
- How does the brain store information and its implications on Marketing practices
- The death of USP theory, the rise of Multiple Selling Points( MSP)
- MSP in practice- Case studies-Election victory of Mr. P.C.Thomas in the Muvatupuzha constituency in Kerala in 2004 general elections, Rexona deodorant, Recron Pillows
- Is differentiation the only way to build brands? Case Study- HP Milcy Lubricant
- Building brands the ‘Reinforcement’ way
- Brain and human emotions and its implications on Marketing practices
- A close look at new research techniques that are based on neurological findings
Teaching Method
Theory is best explained through its practice. All the sessions will be dwelling on some of the latest learnings from the field of neurology. But care is being taken to show its practice from various fields such as medicine to persuasion techniques of politicians to little children to beggars to conmen to the reasons as to why ragging is an integral part of training in many army units.
Evaluation
The purpose of this course is get the participants to open their eyes and get them to understand the world around them in a new way. So the evaluation process will check this aspect. The evaluation will done through a series of assignments that the students will have to submit within a time frame that will be intimated to them later.
Reference
How Customers Think by Gerald Zaltman
Mental World Of Brands, a WARC publication
Course Materials:
