CMOs, Take Note: Length Of Isolation Affects Consumers’ Definition Of Essential And Indulgent Purchases [Forbes]
Mastercard Incorporated (MA)
Last mastercard incorporated earnings: 4/29 08:00 am
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Source: Forbes
Findings from the neuroscience marketing firm Neuro-Insight show what consumers are buying or think... [+]they need to buy during the COVID-19 pandemic.GettyConsumers decide what products and services are essential—and which are indulgent—depending on how long they’ve been in isolation. That’s one of the findings of new research from neuroscience-marketing firm Neuro-Insight, and it has captured the attention of leading CMOs navigating how best to move forward amid the COVID-19 pandemic.According to Neuro-Insight, people purchase something if they view it as a need or get a strong gratification from it—a process driven by the subconscious rather than a conscious decision. As the length of isolation increases, things once seen as indulgent shifted to be perceived by consumers as essential. For example, in the third week of isolation, according to Neuro-Insight, people saw alcohol as more of an essential product than they did before isolation. However, that attitude also shifted even as
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