ast week I referenced Richard Thaler, winner of the 2017 Nobel Prize in Economic Sciences for his ground-breaking work on behavioral economics. We now accept that the old economic models of rationality are wrong and it makes me wonder whether we should be questioning some more up-to-date assumptions. by Nigel Hollis
In the world of innovation, there’s a clear line of separation between a concept and a product. A concept represents what you plan to offer; it’s a helpful tool for prioritizing features and claims and for determining how to communicate the product’s benefits. It also informs ideal price points and which varieties will be needed to drive trial. On the other hand, a product is a tangible object that consumers purchase and use; its long-term success (i.e., repeated purchasing) relies heavily on the experience that consumers have with it.
The job of managing the amount of data available to marketers has become too big for humans alone to handle. If marketers haven’t yet handed off some data management tasks to machines, they undoubtedly will soon. Allen Nance, global CMO at marketing automation firm Emarsys, spoke with eMarketer’s Sean Creamer about what artificial intelligence (AI) does best, while leaving human marketers to refocus on connecting with consumers.
Hispanics are a group of individuals who are heavily influenced by people in their close network. Like most individuals, their actions and behaviors are affected by those who they identify with and deem trustworthy. With regard to Hispanics, the role of reference groups in influencing their consumer behavior across acculturation levels is important, as many of these individuals have no experience in the American market or have never seen these brands before. They depend on those they trust and those who are knowledgeable to guide them while they learn and establish their own consumer behavior pattern. By Maria Puente and Sean Sawicki - Florida State University / Center for Hhispanic Marketing Communication
Experts are evenly split on whether the coming decade will see a reduction in false and misleading narratives online. Those forecasting improvement place their hopes in technological fixes and in societal solutions. Others think the dark side of human nature is aided more than stifled by technology.
Common Sense announced the release of The Common Sense Census: Media Use by Kids Age Zero to Eight, the third installment in an ongoing series of national surveys tracking the use of media and technology among U.S. children from birth to age 8. Among the key findings is the spike in the number of young children who have their own tablet device (now 42 percent, up from 1 percent in 2011) and the amount of time children age 0 to 8 are spending with mobile devices (48 minutes, up from just five minutes in 2011).
Science has a shady history when it comes to racial matters. Throughout the 19th and 20th centuries, science, particularly anthropology, was used to justify white domination, and the history books are chockfull of examples of scientists using scientific inquiry to “demonstrate” the superiority of Caucasians. In the United States, eugenics – the science that deals with the improvement of hereditary qualities of a race or breed – was popularized in the 1890s, and high school and college textbooks from the 1920s through the 1940s often had chapters touting the social progress to be made from applying eugenics toward undesirable racial populations. By David Morse - New America Dimensions
Latino small-business owners say they expect to have much higher revenues, hire more employees and are focused on attracting millennial customers, according to a new survey results from U.S. Bank.
Earning college degrees remains a challenge for Latinos: only 21 percent of Latinos have bachelor’s degrees compared to 32 percent of blacks and 45 percent of whites. Latino Education and Economic Progress: Running Faster but Still Behind, a new study from the Georgetown University Center on Education and the Workforce (Georgetown Center), reveals that lagging college degree attainment has led Latinos to become stuck in the middle-wage tiers of the labor market.
What impact do new devices such as smart speakers and new ways of listening to music like Spotify have on radio’s long-standing role of introducing the latest new music to listeners? Do smart speaker owners now turn to Alexa to find out what’s new instead of their local CHR personality?
There is not one simple definition so there is not one simple strategy to reach them, and connect. The 37-year-old Millennial is … everything you’d expect from a millennial, and in some cases more.
Gender stereotyping in advertisements is a common tactic used for many brands and products to portray their target audience. Whether it’s the strong, luxurious shampoo that only features women with beautiful, long hair in their commercials or the newest camping gear that only shows a male on the packaging. Brands are consciously choosing to highlight and promote to one gender over the other. Are consumers aware of this gender stereotyping? Do they like having products for one gender over the other? Should the advertising industry even contribute to gender stereotyping?
The customer aftermarket has become an afterthought for makers of home appliances, power tools, consumer electronics and other durable goods. Manufacturers and their retail partners have differing opinions when it comes to ensuring a valued, satisfying and profitable product ownership experience.
While computer scientists have been touting artificial intelligence (AI) for more than half a century, the technology is just starting to reveal its potential. In spite of the hype, machine learning, deep learning, computer vision and natural language processing have quietly become entrenched in many people’s daily routines.
Last week Kantar Millward Brown hosted a webinar titled 'Create Digital Ads that Drive Brand Growth'. Tip number one was to “Make people feel something” and tip number two is the closely related “Stand out at the start”. Yes, with digital video you have to engage those emotions quickly. by Nigel Hollis
With culture at the very heart of the identity of different groups across the country, the United States has become very diverse with regard to the different groups that comprise it. As such, Hispanics have become a very unique group to market to within the United States. Targeting this demographic is a distinct task, as the group itself is often mistaken to be one homogeneous culture. However, although Hispanics share many ideals, it is important to remember that each group that comprises Hispanics contains its respective identity; and, with these groups having generational identities within them, marketers are tasked with creating campaigns that acknowledge their unique identity while embracing the different values that they share. By Sean Sawicki / Florida State University
The 4A’s, ANA, and IAB joined together today to propose an industry-wide self-regulatory system that would banish the most offensive advertising formats from the internet.
The Círculo Creativo has announced María "Maru" Bernal, VP Creative Director at Lápiz, and Norberto "Norbi" Zylberberg, CCO & Founder at Socialisssima, as the entity’s new Vice Presidents.
By Gonzalo López Martí - Creative director, etc / LMMiami.com
- For decades and decades, packaging was supposed to be the last stretch of the CPG shopping experience.
- Packaging had the tough task of closing the deal during that last, millisecond-long moment of truth at the supermarket aisle.
- Clinch the sale.
- Cap the consumer journey.
In 2018, 66% of individuals in 52 key countries* will own a smartphone, up from 63% in 2017 and 58% in 2016, according to Zenith’s Mobile Advertising Forecasts 2017. The rapid expansion of smartphone ownership across the world, which has transformed the way that advertisers communicate with consumers, is slowing down as penetration reaches 80%-90% in the most advanced markets. The number of smartphone owners will increase by 7% year on year in 2018, compared to 10% growth in 2017, 14% in 2016 and 21% in 2015.
In the past few years, the advertising industry has made tremendous strides in measuring viewability. But buying viewable ads doesn't always translate to positive results. As a matter of fact, it often translates into worse results. By Scott Knoll is the CEO of Integral Ad Science
Pockets of growth seems to be a recurring theme amidst an era of economic change, modest growth and evolving consumption patters. Across the board, growth in Fast Moving Consumer Goods (FMCG) is getting harder to achieve but if you scratch below the surface, there are many examples of companies, segments and channels performing strongly.
It’s a big marketing move for SeaWorld Parks and Entertainment as it seeks to build its share of Hispanic vacationers and local visitors through direct Spanish-language communication — something never done before on a major level. BY Adam R Jacobson, for HispanicAd
The results are an eye-opener for marketers and their brands as they show how marketers' societal biases and age-related stereotypes are contributing to a significant overestimating of millennial spending power and an underestimating of the value of consumers 55 and older.
This week Richard H. Thaler, professor at the University of Chicago Booth School of Business, won the 2017 Nobel Prize in Economic Sciences for his pioneering work in behavioral economics. In an interview Thaler promised to spend the prize money as irrationally as possible, a statement that acknowledges that he might otherwise try to make rational decisions. by Nigel Hollis
One morning recently, an impromptu discussion broke out in the office about what makes for great advertising. We discussed a few of our favorite recent ads and, as one can imagine, the range of suggestions about which was best was broad. Short form and long form. Funny and sentimental. Product-driven and brand-focused. Rational and emotional. While they ranged in length and objective, one thing was clear: They were “must-watch” ads—not filler in between program breaks, but great creative that we want to talk about, share and watch—over and over again. By Carl Marci, Chief Neuroscientist