The Warc Blog

A pricing primer from Draftfcb

Posted by: Joseph Clift, Product Manager, Warc

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Getting pricing right is a pretty fraught issue for brand owners. But what should the responsible marketer be doing to make things easier? The Psychology of Price, creative agency Draftfcb's latest Breakfast Club event, held in London this morning, aimed to offer some answers. Behavioural economist Leigh Caldwell, author of a book of the same title as the briefing, and Draftfcb's head of retail Niki Cook both offered their views – and both agreed that price-related decisions go a lot deeper than the actual costs of goods and services.

Of course, proper pricing is an essential concern for consumers. "The world is complicated, and you can't objectively calculate the utility you get from any individual purchase," Caldwell said. "But price gives us a shortcut through all that complication. Price is an artificial neatener - it makes decisions seem simpler than they actually are." And to help make things simpler for brand owners, Caldwell offered seven different marketing tactics for them to add to their repertoires.

26 September 2013, 16:36
ESOMAR Congress: Thinking Big in market research

Posted by: Manfred Mareck, Managing Director, Research Marketing

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The research papers presented at Congress are available for subscribers to read. Non-subscribers can take a trial.

Think Big – that's the theme of this year's ESOMAR Congress. The demand for data keeps increasing and it needs highly trained professionals to help their clients to make sense of today's 'data noise', said Silke Muenster, VP Market Research at Philip Morris and chair of the programme committee.

24 September 2013, 09:29
The power of visual storytelling

Posted by: Lena Roland, Commissioning Editor, Best Practice, Warc

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Yesterday I attended the annual social media breakfast organised by the UK's Direct Marketing Association (DMA), which explored the hot topic of visual storytelling using social media. Held at the London gallery owned by Getty Images, the picture service, the chair, Tim Pritchard, Head of Social Media at media agency ManningGottlieb OMD set the scene by reminding the audience of agency and brand owners that images are a gateway to consumer engagement, and that consumers are increasingly sharing brand images.

Next to take to the floor was Guy Merrill, art director at Getty Images, who offered his own unique perspective on the photography industry. Merrill discussed how social and mobile advances are influencing advertising and marketing.

19 September 2013, 16:47
Point of view: Fight perfectionism

Posted by: Molly Flatt, Social business director, 1000heads

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Do you hesitate to release anything into the public realm until it is exactly right? Do you dread negative feedback online? Do you believe that if you can't do something properly, it's better not to do it at all?

If that attitude sounds familiar, you may well be suffering from what Stanford University psychologist Carol Dweck calls a 'fixed mindset'. First published in the US in 2006, Dweck's book Mindset How You Can Fulfil Your Potential has been garnering some serious attention this side of the Pond following last year's UK paperback release. Dweck defines mindsets as 'beliefs about yourself and your most basic qualities. Think about your intelligence, your talents, your personality. Are these qualities fixed traits, carved in stone? Or are they things you can cultivate throughout your life?'

16 September 2013, 12:23
Ad Research Preview: Marketing's Big Lie

Posted by: Joseph Clift, Product Manager, Warc

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Ever get suspicious that your Facebook friends are having too much fun? That the lives of people you follow on Instagram are too fabulous to be believed? According to Christophe Jouan, CEO of Future Foundation and a keynote speaker at our upcoming Advertising Research conference, held in London on September 25, all of this social media-based bragging should be a crucial concern for the marketing industry. At Ad Research, Jouan will be discussing what he terms the Big Lie of marketing – also the title of a new book from Future Foundation. This Big Lie is a simple human truth: that how we want others to see us is as important a consideration as how we truly feel.

From this perspective, it's pretty obvious why so many are so keen to portray a happy and interest-packed life via Facebook. As Jouan told me, when we talked through his Ad Research presentation in London last week, "in these social networks, you create your own brand – which you want to promote at all times." It follows that marketers need to recognise this performative need to make others view us positively, and tailor their communications accordingly.

10 September 2013, 11:42
Mythbuster: Stereotypes about grandparents

Posted by: Mythbuster, Les Binet and Sarah Carter, DDB

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Les Binet and Sarah Carter get a little bit angry about some of the nonsense they hear around them… like stereotypes about grandparents.

A few months ago, we were talking to some people in qualitative research groups about family holidays. The respondents were bemoaning the industry practice of raising prices when children were off school. They talked about the difficulties of taking time off work to cover the long summer weeks. They exchanged ideas about keeping the children amused and entertained on a budget.

02 September 2013, 14:19
 

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