80% of the new products that come to market fail in the first 6 months since its launch
Under the title “New consumer knowledge tools. Better knowledge as a competitive advantage “ESADECREAPOLIS brought together representatives of 18 leading companies that explained their experiences in product launches to experts in Marketing, Market Research, Communication, Advertising, Innovation and R & D, in a day with a pioneering format that combines, in the same space, scientific knowledge with practical business applications.
Also, the meeting brought together for the first time scientists from the Higher Council for Scientific Research (CSIC), the Autonomous University of Barcelona (UAB), the Pompeu Fabra University (UPF) and ESADE, who presented their theories to the attendees, under the new format “Where Science meets Business”. During the day, co-organized with the UAB Research Park, practical applications were presented by companies such as BBVA, Yahoo, Microsoft, Puig and MTV Networks.
For Elisabet Juan, Innovation Developer of ESADECREAPOLIS and responsible for the conference, “there is currently a big difference between what consumers think and what they say in the surveys, in which 80% of new products fail in the six months after at its launch. To change this trend, it is vital to improve consumer knowledge through new techniques that will increase sales and customer satisfaction. ”
A technique that analyzes the consumer’s mind and measures their emotions
One of the techniques that led the day was the neuromarketing, which analyzes the neurological behavior of consumers based on biometric parameters that measure brain waves, cardiac activity, tension of facial muscles and the sweat of the individual’s hands, measuring their constants in a resting state and their reaction to a stimulus.
The participants in a neuromárketing session provide their biometric data to the consultants by means of different mechanisms attached to the body, which, in the sessions in movement, are complemented by glasses with a built-in video camera.
The use of this technique, which must always be complemented with other tools such as surveys, allows to know the impact of advertising on potential customers and analyze the reaction of the individual at key moments such as the start, closure, exposure of the brand and the first visualization of the product, allowing to know in advance if the consumer’s reactions are adjusted to what was expected by the advertiser.
Yesterday’s event also allowed participants to learn about the experiences of leading companies in the use of new consumer research tools such as ethnography, which allows us to know the ways of life of human groups from the immersion of the anthropologist in their culture . This technique is also applied on the Internet, with the name of netnography and studies virtual communities through the analysis of the opinions of consumers in forums and blogs.
Hand in hand with CSIC researchers, the participants learned about the latest advances in the field of artificial intelligence, a system that is currently applied, in products and services as varied as web search engines, traffic management, household appliances or vehicles.
Open since the beginning of the year and with more than 40 resident companies, ESADECREAPOLIS is an innovation park created for the first time by a business school of international prestige. It is a high performance ecosystem where companies from different sectors coexist and share experiences and knowledge with a common goal: to accelerate innovation processes.