Influencing Consumer Purchase Decisions: Campbell Soup's Tryst with Neuromarketing |
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ExcerptsAbout NeuromarketingNeuromarketing at CampbellBetween 2008 and the first half of 2010, Campbell employed neuromarketing techniques, underlined by the methodology of triangulation , to comprehend the impact that product promotions and displays had on a customer's nervous system and physiological alterations, and, thereby, influenced his/ her perception about the product. This advanced method, for which Campbell availed of the services of Innerscope Research, Inc. (Innerscope ), gauged aspects like variations in body humidity, heart palpitations, and other biometric details... Changes ExecutedCampbell made some alterations to its containers to create a positive feeling among prospective customers when they viewed it. The changes included deleting the spoon from the picture, incorporating an image of steam rising from the soup, and a bowl with updated contours. According to experts, the picture of steam signaled the feeling of warmth which, they said, connected with consumers at an emotional level. Also, the research revealed that the legendary red colored streak at the top of Campbell's soup containers made it difficult for shoppers to pick out their preferred flavor... ResultsIn the first quarter of 2011 , Campbell's US soup sales went down by 5% when compared to the corresponding quarter of the previous year. In case of its US condensed soups, sales fell by 1%. The company's top management conceded that the decline was mainly due to the absence of new products in its soup portfolio which could attract consumers. The sales of its soups, sauces, and beverages, outside the US market too registered a reduction of 1% over the corresponding quarter of the previous year. In the second quarter of 2011, the company's US soup sales dropped by 4%... The Road AheadIn November 2010, Campbell's top management announced its intention to work on launching new products. Experts also saw this move as partly an attempt on Campbell's part to regain consumers who had shifted to categories like frozen foods. The company conceded as much when, in a news release, it stated, "...the company's advertising had become too focused on the iconic can and few top selling varieties, rather than celebrating the quality ingredients, variety, and great taste of its soups."... Exhibits
Exhibit I: Campbell's Financial Performance (2008-2011)
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