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Similar a MSc in Economic and Business Strategy | University of Piraeus
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MSc in Economic and Business Strategy | University of Piraeus
- 1. University of Piraeus | MSc in Economic and Business Strategy SENSORY MARKETING & THE POWER OF COLORS: HOW COLORS ARE USED IN MARKETING TO INFLUENCE CUSTOMERS DECISIONS DEDE KATERINA SUPERVISOR PROFESSOR MR. YANNIS POLLALIS PIRAEUS| NOVEMBER 2011
- 2. SENSORY MARKETING •IMPULSIVE BEHAVIOR •EMOTION STIMULATE •DIFFERENTI ATION •BRAND IMAGE ENHANCE STRONG, POSITIVE & LOYAL BETWEEN BRAND AND CONSUMER BOND
- 3. VISION Vision is the most powerful and most seductive of our five senses since 93% put the highest importance on visual factors when purchasing products. The human eye can distinguish among 10.000 hues According to research, the 83% of the information people retain has been received visually! People can collect images with every move of the head The human brain updates images quicker than we see
- 4. New Brain Rational Thinking Middle Brain Emotional Processing Old Brain Decision Making NEUROMARKETING THE OLD BRAIN IS 450 MILLION YEARS OLD WORDS ARE 40.000 YEARS OLD WRITTEN WORDS ARE 10.000 YEARS OLD So, to motivate and inspire our old brain we should speak to its own language: 1. Self – Centered 2. Contrast 3. Tangible Input 4. The Beginning And The End 5. Visual Stimuli 6. Emotion
- 5. COLORS Color increases brand recognition by up to 80 %. Ads in color are read up to 42% more often than the same ads in black and white. People make a subconscious judgment about a person, environment, or product within 90 seconds of initial viewing and that between 62% and 90% of that assessment is based on color alone. 90% believe customers remember presentations and documents better when color is used. 81% of companies think color gives them a competitive edge. 76% believe that the use of color makes their business appear larger to clients. Color can strongly influence attention to and liking of a product. Color has effects on physiological responses and moods. Color can be used to create experiences.
- 6. COLOR BRANDING HEINZ Sold more than 10 million bottles in the first 7 months Factories were working 24 h/day and 7d/week $23 million in sales just because of a simple color change Color: Differentiates Is emotional Identifies APPLE i- Pod
- 15. orange vitality strength success energy encouragement force competition warmth vibrant playfulness
- 17. TOBACCO INDUSTRY COLOR MESSAGE RED FULL FLAVOR (REGULAR) RED & GOLD MEDIUM GOLD / BLUE LIGHT SILVER / LIGHT BLUE ULTRA LIGHT BLUE MILD GREEN MENTHOL (FLAVOR) LIGHT GREEN MENTHOL LIGHT BROWN / MAROON NON - FILTER
- 18. SPORT TEAMS RED: passion and win WHITE: virtue, chastity and fair competition VS GREEN: good luck and a promising victory
- 19. COLORS AND CONSUMER BEHAVIOR COLOR TYPE OF SHOPPER IMPULSE SHOPPERS like to be the first that will try a new color and are willing to spend more money for this SHOPPERS ON A BUDGET are more prudent and not such spontaneous as the first one TRADITIONAL SHOPPERS love pale colors and safe like blue, gray and black VENUE Fast Food Outlet Malls Clearance Sales Banks Larger Department Stores Clothing Stores LOW INCOME: BRIGHTER BOLDER COLORS HIGH INCOME: SUBTLE COLORS
- 20. CONCLUSIONS How a little piece of sensory marketing – the color – has such big response from both experts and consumers. How powerful branding tool is a color. For instance, IBM is synonymous with big blue. Big blue means security and reliability. How powerful can be a color in product choice among several competitive brands and how a brand is recognized only by its color. How a color is used in order to meet the pleasure and satisfaction of the consumer.
- 21. THANK YOU FOR YOUR TIME HAVE A COLORFUL DAY!