Partnering opportunity

Bulgarian company for neuromarketing research studies seeks advertisement agencies or companies for services agreements

Summary

Bulgarian company’s field of activity is biometrics – the measurement of the biological reactions of the body in response to different audiovisual marketing stimuli. The company uses different medical technologies to measure and track the reactions of the respondents when they are exposed to measurable and comparable marketing stimuli. The company is looking for service agreements with advertisement agencies or companies.

Partner expertise sought

Not available

Description

The field of Bulgarian company’s activity is neuromarketing research. The agency could help its partners when/if they need to test their advertising/commercial concepts during the early stages of the creative process. Neuromarketing is a bundle of research techniques used to study the brain patterns and certain physiological responses of consumers to marketing stimuli. The research techniques used by the company are: *Electroencephalography (EEG). *Galvanic Skin Responses. *Eye Tracking. The EEG method is used to test TV commercials before they are shown on TV. The electroencephalogram measures minute electrical signals emanating from the brain. In addition, the company uses other tools that monitor heart rate, skin galvanic conductivity and eye tracking. Each measure has its own advantages. For instance, measuring sweat (from the fingertips) is a marker for increased arousal towards a stimulus, whereas measuring blood flow from the brain indicates which regions are involved in certain tasks (‘light up’ when one makes a decision or sees an advertisement). The major goal of the research methodology used by the company is to locate the exact moment within the commercial in which the audience is paying attention. This is important issue because the attention of viewers can be attracted to a part of the ad that does not represent the advertised product. Thus the viewer may like the ad, remember it, but not remember the product or the company that produced it. The company can discover this potential disadvantage and help creators to modify it, so that the ad will attract the attention to precisely desired moments. This may be applied to TV and radio commercials. Another important goal is to locate the area on the screen which the audience is viewing the most. This is important aspect for the printed ads and TV commercials. When the creators know the region that is most eye-catching, they will be able to organize the cartoon or the TV commercial to highlight best the advertised product, logo or object causing the desired associations. The company's research procedure could be used: *To locate the exact moment within the commercial in which the audience is paying attention. *To locate the area on the screen which the audience is viewing the most. *To determine the overall emotional tinge of the audience in relation to the presented commercial. The company seeks partnerships with companies and advertising agencies which have made TV, radio or internet advertisements. The company can make neuromarketing research studies to pre-test or test commercials at different stages of the creative and advertising production process by service agreement. Using its set of electroencephalographic parameters the company can predict with a high degree of accuracy which advertising ideas will be successful.

Advantages and innovations

The most important advantage is that the developed methodology can overcome the weaknesses of traditional marketing research by recording and analyzing the physiological responses of respondents who are being exposed to specific neuromarketing stimuli. The company uses the EEG and eye tracing methods to test TV commercials before they are shown on TV. The EEG research and eye tracing methods are non-invasive and relatively cheap. The researchers are able to determine the exact moment within the commercial in which the audience is paying attention and the overall emotional state (positive/negative) of the audience using a single EEG electrode, which makes the investigation procedure quick and not burdening for the respondents compared to the competitors using EEG. The processing of final gendered and recorded data is relatively fast and conclusions and insights are available overnight.

Development stage

Not available

Intellectual Property Rights (IPR)

Not available


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