KAMIST

marketing’s day off: a tribute to queen elizabeth II

Hello, OptiMIST People!

Back at it again with KaMIST! Your weekly dose of insights into the latest marketing trends. In this week’s KaMIST we’ll dive more into how brands all over the world pay their respect to the passing of Queen Elizabeth II.

The British Monarch has been the biggest and strongest monarch in the world for decades. Many have grown together with members of the monarch, including Her Majesty, Queen Elizabeth II herself. On September 8, 2022, the world was stunned by the sudden news of Her Majesty’s death. Until today, it has received controversy among the nation, or even broader, throughout the globe.

Due to this devastating news, many brands in the UK–from supermarkets to restaurants, have made several decisions as a tribute to Queen Elizabeth II. For instance, Tesco, one of the biggest supermarket chains in the UK have decided to close its store on the day of the Queen’s funeral. Moreover, the internationally celebrated football league, known as Premiere League has also decided to pause their league for a week as a form of respect to Her Majesty. Media across the UK has also taken their part in this tribute, for example, BBC has paused their programs and extended its news program. The fashion industry has also contributed to this matter, Burberry has cancelled their Spring/Summer runaway set on September 17. However, pubs across the UK have decided to still be open for the public to gather communities to witness the Queen’s funeral. All in all, all of those approaches are done to pay their respect to Her Majesty.

On the other side, all these approaches have derived controversy among the people. A survey by The Marketing Week stated that 58% of people said brand messages about the queen are only a matter of publicity stunt, and only 28% believed it is a message from the heart. Tanya Joseph, managing director at Hill + Knowlton Strategies said that during this time, brands need to choose their publication and words wisely. It may be necessary for those who have been associated with the Queen or the Royal Family to publicly state their condolences. However, those who haven’t got the chance to be associated with the Royal Family should focus on their internal communication. 

So, do you think it is necessary for brands to put a grand gesture to honour the Queen? or do you think it was just a matter of a PR stunt?

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The idea of delivering the most value for the consumer has evolved over the years. As we know, the best marketing strategy is cetera desunt for adaptive future-leader mindset that uncertainly evolved over decades. Companies began to use various promises in effort to persuade and attract customers. The fiercely increasing conditions of competition added the popularity of the concept of “brand” and “advertisement” by adopting the concept of neo-marketing and elaborate them with psychological terms. Albeit, all emotion influences consumers personal relationships, business choices, and buying decisions. The emotion itself has situational and reactive qualities, as well as satisfaction and expectations formed over lifetimes of experiences and interactions.

When a boy goes to an ice cream parlor or restaurant, he will feel befuddled. Choosing what he is going to get, that’s the thing that he despises. Would chocolate chip or strawberry ice cream please him better? Cheeseburger or fried chicken? He feared that what he selected will not give him as much pleasure as the other option would give. What he doesn’t choose could provide a higher sense of pleasure than the one he chose. One interesting finding utilized by neuromarketing is that people really don’t want to lose out. People are just as worried about what they might lose as to what they might gain.
In the meantime, one of the biggest challenges that marketers deal with is customers’ expectations in the pre-purchase phenomenon where the consumers haven’t fixed their buying decision yet. To tackle the challenge, many companies are competing to build relationships with their customers, with the expectations that they will be able to provide the best customer experience for specific individuals. Therefore, the company must be customer-centric to carry out a successful marketing strategy in order to be noticed by consumers and to forge a brand identity.

According to McKinsey (2019), by making a fundamental change of mindset of focusing on the customers, companies gained significant enhancement on several aspects. Along with operational and IT improvements, companies generate 20 to 30 percent uplift in customer satisfaction, a 10 to 20 percent improvement in employee satisfaction, and economic gains ranging from 20 to 50 percent of the cost base addressed in the various journeys.

To overcome these challenges, companies have to understand consumers’ behavior and expectations. Hence, companies should put a bigger concern towards consumers’ buying-cycle from awareness to its advocacy. By implementing the concept of Neuromarketing, stereotypes of the communication matters of the marketing basis will be integrated with taste of individual market itself. The more personalized the promotion, the higher the probability that the advertisement will work. It could be done by using big data to allow the company for this huge aggregation of all consumers personal information that they’ve ever revealed to build a precise representation of who they are, now, more than ever before. Data and insight are not delivered to consumers as a whole but individually by delivering the most value to the customers with a very specific scope based on how they think.

In order to win in today’s marketplace, companies must be customer-centered, to the point that ideally, each individual customer’s values are taken into an account to derive the value that they are truly seeking. In essence, by generating consumer reactions, and treating them not as reactionary receptacles of marketing strategies, but as each their own person with differing individual values. Therefore, reinforcing belief is a very important matter for marketers that influences consumers experience. They must deliver superior value to their target customers traditionally and digitally with knowledge of neuroscience marketing strategies combined. Neuromarketing will surely strengthen customer’s contentment of a product itself.