Neuroscience & Product FailuresWhat shopper marketers need to know about the brain's ability to categorize objects
Thursday Oct 30, 15:45 - Main Stage
Overall, Ferrero is doing very well and, especially in Germany. They have been able to realize an annual growth rate close to 4% per year for seven years. However, in the area of launching new products they are averaging a failure rate of 80% - and these are the cases that we can learn from.
Ferrero’s head of Shopper Communication, Enrique Strelow started to research categorization in the brain, and came up with a series of studies on how the brain makes shortcuts to categorize objects, to be able to make split-second in-store decisions. In this talk, he’ll share his astonishing results.
What you can learn:
- The neuroscientific bases for the categorization mechanism of the brain
- Understanding the staggering failure rates of new products
- Neuroscience results of a few of Ferrero’s product failures, and their lessons