Now more than ever, it’s critical that brands are trusted by consumers. Trust is foundational in any relationship, and it is of heightened importance at any time of uncertainty. Trust is both a logical and an emotional proposition. Trust is about transparency, but also predictability. But how is trust conveyed? Or better yet, how is trust earned?
We’re hearing a lot about blockchain these days, including a fair amount of buzz that it’s going to disrupt the market research industry as we know it. While it seems to us that blockchain technology has the potential to bring revolutionary change to our lives in the coming decade — similar to the magnitude of change that smartphones have brought over the past decade — the potential for disruptive impact on the research industry itself is much less clear.
If you, like me, are of a “certain age,” you probably remember going car shopping, narrowing down the brand of car you wanted, then trying to choose between the basic or premium options because those were the only options available.
You may hear some buzz about neuromarketing, or “System 1 Thinking,” an emerging approach to marketing research that combines three well-established disciplines of brain science to give a new perspective on human behavior and give insight into nonconscious decision-making:
Neuroscience – the study of the human nervous system
Behavioral economics – the study of how people make economic decisions
Social psychology – the study of how people think and act in the presence of other people
Let’s look at one scary fact: 64 percent of American households have Amazon Prime*
And one scary quote:“I think that effectively you have a company that has conspired with about a million consumers and technology to destroy brands.” -Scott Gallaway, NYU Stern School of Business speaking at L2’s Amazon Clinic