Competitive Landscape: Neuromarketing Companies

Part
01
of two
Part
01

Competitive Landscape: Neuromarketing Companies A

Nielsen offers the most complete suite of integrated consumer neuroscience tools and holds the largest portfolio of patents in the neurotechnology industry, while Merchant Mechanics call themselves the “Pioneers of Retail Forensics” and are proud of their innovative efforts. All the requested information regarding these companies is provided in the attached spreadsheet. A short brief of the findings is provided below.

Nielsen

  • The company's revenue is $6.5 Billion.
  • Some of its clients are NBC Universal/ Comcast Corporation, The Coca-Cola Company, Nestle S.A., The Procter & Gamble Company, Twenty-First Century Fox, Unilever Group, among others.

Merchant Mechanics

Research Strategy:

Despite our efforts, we were unable to find information about the marketing efforts of Merchant Mechanics. We started our research by looking for campaigns in advertising databases and specialized sites, as well as industry related websites, hoping to find campaigns or ads promoting the company. Unfortunately, the only information we could find were some references to the work done by the company in case studies and some news articles, but even then, information was sparse. We then searched for images and videos of the company, hoping to find any print or digital ad. We found some YouTube videos with the company’s employees as keynote speakers and a Viacom video where the CEO analyzed South Park fans. Next, we searched for press releases, announcements and news articles, hoping to find indications of a campaign or advertisement. We could find some collaborations and news articles mentions, with an analysis provided by the company, which could count as a marketing effort, but there were not a lot of them, and most were from 2011 to 2013. We theorized that the company may conduct their marketing efforts in-person, so we checked their commitments regarding conferences, workshops, symposiums, etc. With this approach, we found several references of the company attending different events, but as far as we could tell, the last one was in 2017. As a last resort, we checked the company’s social media pages, hoping to see some marketing efforts in the form of published studies, interviews, etc. Although Merchant Mechanics’ social media presence is not that strong, they post frequently on Twitter, including their own analysis and studies. Considering the company had/has big clients, such as McDonald’s and Coca-Cola, we assume that the company’s marketing efforts are probably in person, references or individually tailored to the target company, which would not be uncommon for their field, and therefore, not publicly available.

Information found about the details of both companies’ methodology was not very robust, as both ask clients to contact them for further information, probably to maintain a competitive edge. The information available was detailed in the report. Information about clients is also problematic, with the companies providing a list of their clients, but not informing if they are still their clients, or the period that they worked for them. The companies provided for Nielsen, however, are long-term Nielsen clients, and were still their clients in the fiscal year of 2018/2019, according to the company’s 10K form. The company does not disclose the revenue for the neuroscience department, only for the whole company. Merchant Mechanics, on the other hand, as a private and small company, is not obliged to provide public information about their financial business, therefore, we had to rely on third party estimates about the company's revenue.
Part
02
of two
Part
02

Competitive Landscape: Neuromarketing Companies B

The requested details on Olson Zaltman Associates and MediaScience Labs has been entered into rows three through nine, columns F and G of the attached spreadsheet.

OLSON ZALTMAN ASSOCIATES

  • Regarding Olson Zaltman Associates' strategy, the company employs an in-house project support team fluent in multiple languages. It primarily concentrates on comprehending the specific intentions of each client, which they use to tailor their projects through the use of specialized tools constructed by its IAT and ZMET proprietary processes.
  • Olson Zaltman Associates administers its Metaphor Elicitation Technique that elicits unconscious and conscious sentiments, as well as thoughts, by investigating an individual's metaphoric expressions.
  • One of the company's competitive advantages is the 20 years worth of practice operating in the market research segment that benefits it.

MEDIASCIENCE LABS 

Research Strategy:

To provide a competitive analysis of the listed neuromarketing firms, we first explored the official websites of each company. There, we found relevant information on the companies' clients, methodologies, competitive advantage, and strategies.

For revenue data, we searched their websites, annual reports, and financial statements, as well as possible press release statements that could provide information on their estimated annual revenue. Since this information was unavailable through this strategy, we opted to consult credible third-party websites such as Hoovers and ZoomInfo to find revenue data. We were able to locate this information on ZoomInfo and presented it as an estimated annual revenue for the companies.
Regarding the marketing efforts of Olson Zaltman and MediaScienceLabs, we explored reputable industry publications, third-party ad sources, and magazines such as Adweek and Adage, among others. We also searched for any press releases by the companies or interview excerpts from their top officials, but no marketing efforts or campaigns by these businesses were available. Fortunately, on each of the companies' websites, we found social media platforms which we visited to confirm information on their following and activities.
Sources
Sources