Measuring the Effectiveness of Mellat Bank and Ma Insurance Joint Printed Advertising Using Neuromarketing

Document Type : Research Paper

Authors

1 , Prof., Department of Management, Faculty of Management and Accounting, Farabi Campus, University of Tehran, Qom, Iran.

2 Assistant Prof., Department of Management, Faculty of Management, University of Tehran, Tehran, Iran.

3 Ph.D. Candidate, Department of Marketing, Faculty of Management and Accounting, Farabi Campus, University of Tehran, Qom, Iran.

4 Assistant Prof., Department of Management, Faculty of Management and Accounting, Farabi Campus, University of Tehran, Qom, Iran.

Abstract

Objective
Marketing activists are always looking for answers to the questions such as "what can attract the consumers?" and "how can consumers’ attention be focused to vital products and information?". Among a variety of research methods, self-reporting method is considered as the optimal method to answer these questions and evaluate marketing practices, especially in advertising. However, the influence of neuroscience in the humanities has revealed the weaknesses of these methods, so that a new paradigm is emerging which is referred to as neuromarketing. The purpose of this study is to use the insights obtained from neurosciences and particularly neuromarketing to measure the effectiveness of joint printed advertising of Mellat Bank and Ma insurance company.
 
Methodology
This research is quantitative and applied in nature which is conducted in a quasi-experimental manner. Eye tracking method was used to collect the data in this study. The statistical population of this study includes the customers and audiences of the advertisement; 15 testes, who belong to the age group of 25 to 50 years, were randomly selected to participate in this study. Study data were analyzed using visual analysis and inferential statistical analysis through one-sample t-test and non-parametric Friedman test. In this study, items such as thermal map, blur map, eye movement and glare map, number of fixations, average duration of first fixation, and average duration of fixation were analyzed.
 
Findings
The results of the measurement of advertisements showed that the elements in the advertisements had efficiently attracted visual attention and the printed advertisements were well memorable. However, there was no significant difference between printed advertising designs in terms of attraction and memorability.
 
Conclusion
Contrary to the traditional assumptions, consumers are not rational and the majority of the brain activities and processes are performed outside of our conscious consciousness over which we have no control. These activities and processes are not accessible through self-reporting methods and identifying the stimuli that affect brain activity requires the use of new perspectives and methods based on neurosciences. A number of marketing researchers and corporate executives tend to answer sensitive questions about consumers’ behavior based on a neuromarketing approach due to the weaknesses of self-reporting methods such as the inability to describe emotions and feelings, limitations regarding cultural and linguistic differences, acceptance and social acceptance errors, misconceptions about human rationality, and memory limitations. Neuromarketing is considered as an approach to highlight the hidden stimuli of consumers’ behavior that were not previously recognizable by conventional research methods. The eye tracking method has the ability to answer the questions which were difficult to answer by traditional self-reporting methods. Eye tracking meythod can help respond to the following questions: “which elements are seen in the ads?”, “which elements are seen the most?”, “what is the order of noticing the elements in the ads?”, “which elements in advertising cause the most processing and mental conflicts?”, and “which ads result in better performance?”.

Keywords


Batra, R., Myers, J. G. & Aaker, D. A. (2009). Advertising Management (5th Ed.). Pearson.
Berger, P. D. (1972). Vertical Cooperative advertising ventures. Journal of Marketing Research, 9(3), 309-312.
Bridger, D. (2015). Decoding the Irrational Consumer: How to commission, run and generate insights from neuromarketing research. London: Kogan Page.
Callan, D. (1998). Eye movement relationships to excessive performance error in aviation. Proceedings of the Human Factors and Ergonomics Society 42nd Annual Meeting, 1132-1136, Santa Moica, CA: Human Factors and Ergonomics Society.
Cerf, M. & Garcia-Garcia, M. (2017). Consumer Neuroscience. Massachusetts Institute of Technology.
Duchowski, A. T. (2017). Eye Tracking Methodology: Theory and Practice (3rd Ed.). London: Springer-Verlag.
Ducoffe, R. H. (1996). Advertising Value and Advertising on the Web. Journal of Advertising Research, 36(5), 21-36.
Esmaeelpour, R., Akbari, M. & Takhireh, Z. (2017). Investigating the Role of SMS Time Pressure in Effectiveness of Mobile Advertising with Moderation of Customer's Age. Journal of Business Management, 9(1), 43-62. (in Persian)
Genco, S. J., Pohlmann, A. P., Steidl, P. (2013). Neuromarketing for Dummies. John Wiley & Sons Canada, Ltd.
Gofman, A., Moskowitz, H., Fyrbjork, J., Moskowitz, D. and Mets, T. (2009). Extending Rule Developing Experimentation to Perception of Food Packages with Eye Tracking. Open Food Science Journal, 3, 66-78.
Goldberg, J., & Kotval, X. (1998). Eye movement-based evaluation of the computer interface. Advances in Ocupational Ergonomics and Safety, 529-532.
Hong, X., Xu, L., Du, P. & Wang, W. (2015). Joint advertising pricing and collection decisions in closed-loop supply chain. International Journal of Production Economics, 1(167), 12-22.
Hoshyvar, R, Esmaeelpour, R., & Moradi, M. (2015). The relationship between humor in advertising and purchase intention. Journal of Business Management, 14(23), 177-194. (in Persian)
Huey, E. B. (1908). The Psychology and Pedagogy of Reading. Cambridge, MA: MIT Press (reprinted 1968)
Jacob, R. J. & Karn, K. S. (2003). The Mind's Eye: Cognitive and Applied Aspects of Eye Movement Research. Elsevier B.V.
Jorgensen, S. & Zaccour, G. (2014). A survey of game-theoretic models of cooperative advertising. European journal of operational Research, 237, 1-14.
Karray, S. & Zaccour, G. (2007). Effectiveness of coop advertising programs in competitive distribution channels. International Game Theory Review, 9(2), 151–167.
Kotval, X. & Goldberg, J. (1998). Eye movements and interface components grouping: an evaluation method. Proceedings of the 42nd Annual Meeting of the Human Factors and Ergonomics Society, 486-490, Santa Monica: Human Factors and Ergonomics Society.
Kovačič, A. (2012). How to measure the effects of advertising communication: a research methodology overview? RSC, 4(2), 85-113.
Madhoshi, M. & Rezaee, S. (2013). Evaluating the Effectiveness of Viral Advertising Using Experimental Design. Journal of Business Management, 5(3), 125-144. (in Persian)
Madupu, V., Sen, S. & Ranganathan, S. (2013). The impact of visual structure complexity on ad liking, elaboration and comprehension. The Marketing Management Journal, 23(2), 58-70.
Maehle, N. & Supphellen, M. (2013). Advertising strategies for brand image repair: The effectiveness of advertising alliances. Journal of Marketing Communications, 21(6), 450-462.
McQuarrie, E. F. & Phillips B. J. (2008). It’s not your father’s magazine ad: Magnitude and direction of recent changes in advertising style. Journal of Advertising, 37(3), 95-106.
Mitchell, A. A., & Olson, J. C. (1981). Are Product Attribute Beliefs the Only Mediator of Advertising Effects on Brand Attitude? Journal of Marketing Research, 18(3), 318-332.
Mohammadzadeh Asl, N., Emam Verdi, G. & Sarir Afraz, M. (2010). Ranking of urban welfare indicators in different regions of Tehran city. Research and Urban Planning, 1(1), 85-106. (in Persian)
Nasiri, S. (2018). The Application of Communicational and Observational Approaches in Evaluation of Advertisements Effectiveness, focusing on Human Message source. A Thesis Submitted to the Graduate Studies Office in Partial fulfillment of the requirements for the degree Doctorate in the Marketing Management. Alborz Campus, University of Tehran. (in Persian)
Neff, J. (2011). Copy Testing Coming to Digital Marketing. Retrieved November 1, 2018 from https://adage.com/article/digital/copy-testing-coming-digital-marketing/14910./
Noel, S., Green, C. & Fairley, S. (2016). Investigation of the use of eye tracking to examine tourism advertising effectiveness. Current Issues in Tourism, 19(7), 634-642.
Ohme, R., Matukin, M. and Pacula-Lesniak, B. (2011). Biometric Measures for Interactive Advertising Research. Journal of Interactive Advertising, 11(2), 60‐72.
Pieters, R., & Wedel, M. (2004). Attention Capture and Transfer in Advertising: Brand, Pictorial, and Text-Size Effects. Journal of Marketing, 68, 36-50.
Ramsøy, T. Z. (2014). Introduction to Neuromarketing & Consumer Neuroscience. Neurons Inc ApS.
Rossiter, J. R., & Percy, L. (1983). Visual Communication in Advertising. In: Harris R. J. Information processing research in advertising. Hillsdale, NJ: Erlbaum.
Samu, S., Krishnan, H. S. and Smith, R. E. (1999). Using Advertising Alliances for New Product Introduction: Interactions between Product Complementarity and Promotional Strategies. Journal of Marketing, 63(1), 57-74.
Shaparak (2018). Shaparak's Economy Report, Nomber 31, (in Persian), available in: https://shaparak.ir/reports
Shimp, T. A., & Andrews, J. C. (2013). Advertising, Promotion and other aspects of integrated Marketing Communications, (9th Edition). South-Western, Cengage Learning.
Shirzad, M., Abooyee Ardakan, M., Nazari, M. A., Gholipour, A. (2019). Cognitive Neurological Investigation of Organizational Leaders’ Brain in the Strategic Thinking Activity: How to Design Cognitive Tasks for a Quantitative Electroencephalography (QEEG) Based Approach? Journal of Business Management, 11(1), 63-86. (in Persian)
Smit, E. G., Boerman, S. C. and Meurs, L. V. (2015). The Power of Direct Context as Revealed by Eye Tracking. Journal of Advertising Research, 55(2), 216–27.
Tobii AB (2016). User’s manual Tobii Studio. Tobii Pub.
Velazquez, C. E., & Pasch, K. E. (2014). Attention to food and beverage advertisements as measured by eye-tracking technology and the food preferences and choices of youth. Journal of the Academy of Nutrition and Dietetics, 114(4), 578–582.
Venkatraman, V., Dimoka, A., Pavlou, P. A., Vo, K., Hampton, W., Bollinger, B., Hershfield, H. E., Ishihara, M. and Winer, R. S. (2015). Predicting Advertising Success beyond Traditional Measures: New Insights from Neurophysiological Methods and Market Response Modeling. Journal of Marketing Research, LII, 436-452.
Wedel, M., & Pieters, R. (2000). Eye fixations on advertisements and memory for brands: A model and findings. Marketing Science, 19, 297–312.
Xiao, D. & Li, C. (2015). Horizontal Cooperative advertising among Retailers in a Decentralized Supply Chain. 12th International Conference on Service Systems and Service Management (ICSSSM), June 2015.
Yang, S. S. (2012). Eye movements on restaurant menus: A revisitation on gaze motion and consumer scan paths. International Journal of Hospitality Management, 31(3), 1021–1029.