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A suite of mobile equipment and analytical know-hows that uses psychophysiological measurements to track consumers’ reactions and feelings in an accurate and reliable manner
About
Conventional market research tools such as surveys, interviews and focus groups can be unreliable, invalid, and inaccurate. This creates a significant problem for government and businesses who are relying on market research to inform their decisions and marketing strategies. Our innovation, the Consumer Research Lab (BCRL), is a suite of mobile equipment, analytical software and interpretive tools that uses psychophysiological (psychological and biometric) measurements to track consumers’ feelings and thinking in an accurate, reliable, quantifiable, and real-time manner. In comparison to conventional market research, CRL can uncover unconscious thoughts and feelings of consumers, and can overcome the challenges of consumers providing inaccurate, misleading, and exaggerated responses. More importantly, CRL can identify specific elements of a marketing stimulus that trigger certain consumer responses. Thus, CRL provides a scientific approach to marketing research and generate data and marketing insights of much greater granularity.
Key Benefits
CRL allows government and companies to directly assess the effect that their marketing has on their customers. As a result, marketers can optimise their message to consumers. Unlike similar competitors that only specialises in one single technology, we have created CRL by integrating four technologies. The suite is equipped with: (1) eye-tracking devices to measure eye gaze and visual attention (2) facial expression camera and software to measure emotional experience (3) a wristband to measure arousal and engagement (4) a headset to measure brain wave activities related to thought processes. While these technologies are well-known and tested, the novelty of our approach lies in: (1) The unique event-detection and data processing analytical software (2) The integration of the different measurements and the expertise to use them effectively in experimental design (3) The combination of psychophysiology, consumer behaviour and marketing expertise within the team. We are focusing these techniques to initially provide two customer solutions: (1) Store or product layout, in which we use the mobile equipment to analyse a person's responses as they move through a store and interact with product displays. (2) Ad testing, in which we invite subjects to view or interact with an advertisement (TV, radio, print, or other), branding, logo, packaging or other stimulus. Responses can validate whether the advertisment has the intended effect on members of the target market. In comparison to conventional market research, CRL can uncover unconscious thoughts and feelings of consumers, and can overcome the challenges of consumers providing inaccurate, misleading, and exaggerated responses. More importantly, CRL can identify specific elements of a marketing stimulus that trigger certain consumer responses. Thus, CRL provides a scientific approach to marketing research and generate data and marketing insights of much greater granularity.
Applications
We have had considerable early engagement with government and industry partners. From the government agency segment, Healthway has commissioned us to optimise the promotion of health messages in their sponsored events. From the businesses segment, CRL has worked on a research basis with Gabriel Chocolate, Simmo’s Icecream, Fogarty Wine and Insteon New Zealand. We are currently in discussion with several partners for academic research projects and research grant application in 2018: Bankwest, HBF, and Alyka. The end-users of our technology are principally business and government agencies who require an understanding of their customers, clients or users to better inform their decisions. The market research industry generates approximately AUD7.8 billion in Asia-Pacific and AUD52 billion worldwide; with a 2.8% growth rate. We can further segment end-users into major groups: 1. Companies who have a large advertising spend These companies are generally larger product-based companies, retail stores and government agencies focusing on the general consumer, with a high profile across TV, radio, print and outdoor advertising. 2. Companies with repeat store layout Our suite of technologies is particularly useful in assessing in-store consumer reaction. Chain and franchise stores can gain significant value by optimising their store layout to produce a desired consumer reaction. 3. Producers and retailers of luxury goods The team behind the BMRS have expertise in luxury branding, and we have a lot of interest from companies who would normally not have a high marketing spend, but focus on packaging and store layout to convey the sense of luxury to their customers. 4. Advertising agencies Advertising agencies often work with group 1 (above). We have spoken with advertisers and they are interested in working directly with the technology to quickly confirm or reject advertising concepts. 5. Market research companies These typically work with companies (mainly groups 1-3 above) who need their products or marketing tested with a sample of the population. This is upstream of other market segments and partnership in this sector will help us reach a wider market.