How Does Packaging Affect Consumers.docx - Research from 3M Corporation found that the human brain processes visuals 60,000 times faster than written

How Does Packaging Affect Consumers.docx - Research from 3M...

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Research from 3M Corporation found that the human brain processes visuals 60,000 times faster than written content. For social media, a channel many businesses use to engage with consumers, visual content gets, on average, 40 times more engagement than text-heavy posts. Great post. I agree “While businesses typically increase marketing expenditures, company offer sales promotions or expand the size of their sales force to boost their product or services’ market share”. One important lesson in business is that you cannot allow anything in your drive to grow market share to compromise your existing success. Therefore, companies need to be aware of what made their product / service a success so far and ensure that nothing you do will undermine it. According to an article that I’ve read “many organizations find themselves in a mature/ saturated market and to achieve further market share requires a different approach “Mind tools, 2018”. This strategy requires an aggressive promotional campaign, supported by a pricing strategy designed to make the market unattractive for smaller competitors. A good example is the rapid growth of the supermarket chains, which have taken market share from small high street grocers who are unable to compete on price and product range. More recently there has been the introduction of loyalty campaigns, where the supermarkets compete for market share through customer loyalty programs “Management eBook, 2018”.
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