Monday, November 23, 2015

Neuromarketing and the Pepsi Challenge

I have just concluded my Personal Branding class at Stanford.  The students - as usual - were fantastic.  I gain so much from my students at Stanford - I should PAY them for the privilege of teaching the course!

Neuromarketing and the Pepsi Challenge
Any way, one of my students (Sonia Lopez Sanchez), shared her project on Neuromarketing (of which) I am only vaguely aware.  So I looked it up on (where else?) Wikipedia.

Here's some food for thought.

In a study from the group of Read Montague published in 2004 in Neuron,[9] 67 people had their brains scanned while being given the "Pepsi Challenge", a blind taste test of Coca-Cola and Pepsi. Half the subjects chose Pepsi, since Pepsi tended to produce a stronger response than Coke in their brain's ventromedial prefrontal cortex, a region thought to process feelings of reward. But when the subjects were told they were drinking Coke three-quarters said that Coke tasted better. Their brain activity had also changed. The lateral prefrontal cortex, an area of the brain that scientists say governs high-level cognitive powers, and the hippocampus, an area related to memory, were now being used, indicating that the consumers were thinking about Coke and relating it to memories and other impressions. The results demonstrated that Pepsi should have half the market share, but in reality consumers are buying Coke for reasons related less to their taste preferences and more to their experience with the Coke brand.

Source: (emphasis added).

And people say "marketing doesn't matter" ha ha.