Posts Tagged ‘dm821’

Neuromarketing: What You Need to Know

September 8, 2024

Some thoughts on neuromarketing.

I’d like to highlight
an article on neuromarketing by Eben Harrell. (This article is also related to content in the recent book Nita Farahany). The article talks about the emerging practice of neuromarketing, that is, ascertaining a person’s interest in buying a product or service through various neuroscience techniques. Such techniques include functional magnetic resonance imaging (fMRI) or an
electroencephalogram (EEG).

The fundamental premise behind neuromarketing is to more directly ascertain what is going on in someone’s brain. With traditional marketing approaches, like surveys, individuals’ responses are not always an accurate reflection of what is going on in their minds. This can be simply due to forgetting, but it can also be due to people feeling ashamed or uninterested in revealing their true motivations.

Potentially, neuromarketing techniques can determine whether people’s brains are stimulated by things that they don’t want to reveal. An example would be putting a product in front of a person, for instance, a sweet or salty food that they don’t want to admit they want to eat, and then visualizing in an fMRI that their minds are, in fact, stimulated by the product. Regarding the techniques, fMRI is thought of as a more accurate approach and gives a better sense of which area of the brain is activated, but it requires much more cumbersome equipment in comparison to EEG.

A more controversial aspect of neuromarketing goes beyond observing and directly tries to implant or influence people’s thinking subconsciously. The idea of subconscious suggestion has been around for a long time. However, incorporating specific neuroscience interventions goes further, such as putting ideas in people’s dreams or, instead of just monitoring the brain through something implanted on the scalp, actively trying to influence it, for instance, through transcranial magnetic stimulation (TMS).

Neuromarketing techniques, particularly those that involve directly influencing the brain but even those that just observe it, are ethically fraught, and privacy implications and issues related to free will and choice must be considered. (These are discussed in detail in Farahany (’23).) A number of the ethical issues associated with neuromarketing seem innocuous. For example, Harrell’s article indicates that research has shown that an EEG or fMRI is better able to determine what movie a person likes than focus groups or surveys. However, when one inquires instead about political preferences or party affiliation, this becomes more ethically fraught. There is a spectrum from simply looking at someone’s eye gaze or attention and trying to gauge the degree to which they are interested in something, all the way to putting them into an fMRI machine. It is difficult to know where the ethical line is crossed.

Harrell’s article also alludes to the integration of neuro-sensing devices with other devices. One can imagine a frightening scenario where the ECG in one’s Apple Watch (or maybe an EEG in future iGlasses) is connected to a neuromarketing campaign, and as one watched television or looked at products, various readings from this would be correlated. Finally, the idea of directly manipulating one’s brain with TMS or even ingested chemicals is worrisome.

Overall, I think that there is a lot of promise in neuromarketing. In a sense, it’s a natural extension of the marketer trying to ascertain exactly what the consumer wants, improving upon other marketing techniques that use only indirect proxies of what is going on in the mind. However, it crosses over into certain ethical gray zones that must be taken into account.

References

The Battle for Your Brain: Defending the Right to Think Freely in the Age of Neurotechnology , Farahany, Nita A (2023).
https://www.amazon.com/Battle-Your-Brain-Defending-Neurotechnology-ebook/dp/B09Y45MY2VLinks to an external site.

Neuromarketing: What You Need to Know
https://hbr.org/2019/01/neuromarketing-what-you-need-to-knowLinks to an external site.
Eben Harrell (2019)

Thoughts on Google and chatGPT

August 20, 2023

Google’s current search presentation might seem to be very high-tech and current and not something that is going to become obsolete. Still, I would argue that it is going to change soon, particularly in the way it monetizes search through sponsored advertising.

For the past two decades, Google has dominated the online search industry and has figured out how to make a lot of money by connecting this with online advertising. Its presentation is basically a list of items, sometimes with interspersed ads in relation to a search query.

ChatGPT has the great potential to change this overall look because it directly provides an answer in the framework of a prose conversation without the possibility of a list or having sponsored results interspersed. The sponsored results are one of the main ways that Google gets revenue, so this is potentially worrisome to the company. It’s hard to see how Google could get sponsored revenue by directly interspersing sponsored comments into a ChatGPT type of dialogue without significantly distorting the results. ChatGPT also greatly disrupts the legions of people who have carefully set up their websites to optimize search engine performance.

Moreover, increasingly, even within Google search results, one doesn’t see a list presented but rather an immediate answer. For instance, if you pose a direct question or an arithmetic problem to Google, you get the answer and are not led to look down a list of search results. People are going to want this to avoid wasting time or having to look any farther on the page than necessary. In this sense, ChatGPT is the extreme scenario when you are given the direct answer in the form of dialogue.

Google is acutely aware of the possible disruption of ChatGPT to its revenue model. This can be seen in numerous news stories about its current panic, including issuing a company-wide “code red” and orienting the organization around generative AI.

References

Is Google’s 20-year dominance of search in peril?
https://www.economist.com/business/2023/02/08/is-googles-20-year-search-dominance-about-to-end

The Slot-Slaughter – Is ChatGPT The End Of Google Ads? – lyftyfy https://www.lyftyfy.com/the-slot-slaughter-is-chatgpt-the-end-of-google-ads/

ChatGPT and Other Chat Bots Are a ‘Code Red’ for Google Search – The New York Times
https://www.nytimes.com/2022/12/21/technology/ai-chatgpt-google-search.html

Does the rise of ChatGPT mean the end for Google?
https://adguard.com/en/blog/chatgpt-bing-google-search.html

Another example of brand updating…..

August 12, 2023

another example of a brand refresh!

https://www.marketingdive.com/news/jell-o-rebrand-first-time-10-years-kraft-heinz-marketing-trend/689056/

Van Westendorp’s Price Sensitivity Meter – Wikipedia

August 6, 2023

https://en.wikipedia.org/wiki/Van_Westendorp%27s_Price_Sensitivity_Meter

The Advantages and Disadvantages of TV Advertising

July 30, 2023

https://www.strategus.com/blog/the-advantages-and-disadvantages-of-tv-advertising

What are the Advantages of Television Advertising?

July 30, 2023

https://www.themediaant.com/blog/advantages-of-television-advertising/

How Major League Baseball Is Using Its Rules Changes to Win New Fans – WSJ

July 21, 2023

https://www.wsj.com/articles/major-league-baseball-marketing-strategy-83cfb2e4

Too Good for Lowe’s and Home Depot? – WSJ

July 16, 2023

https://www.wsj.com/articles/SB115369927780214907

STIHL chainsaws

Breaking Eroom’s Law

July 16, 2023

https://www.nature.com/articles/d41573-020-00059-3

anit – scaling !

Can the West build up its armed forces on the cheap?

July 16, 2023

Describes “How “Lockheed’s law” keeps defence costs down”.

Compare to Moore’s law (e.g. described in
http://lectures.gersteinlab.org/summary/Biomed-DataSci-Intro–20190416-i0hm19)

https://www.economist.com/finance-and-economics/2023/06/22/can-the-west-build-up-its-armed-forces-on-the-cheap