Traditional banks that begin to offer more digital services, such as Fintech will be more competitive, efficient, and profitable. ? ?Will banks begin to use more techn
this is the research question and hypothesis:
· Traditional banks that begin to offer more digital services, such as Fintech will be more competitive, efficient, and profitable.
· Will banks begin to use more technological solutions become increasingly more prevalent in daily life.
· Will traditional banks that implement and use fintech with other users gain more profits, customer satisfaction and less yearly operating costs
· Do banks face more problems than solutions transitioning into Fintech on the long term
· Furthermore, the main research question is how the use of financial technology (fintech) changed the way traditional banks operate, and what does this mean for the future of banking
I need an analysis on the survey answers in 800 words in relation to the hypothesis and research question
+
I need to create a conclusion for the dissertation (600words)( the whole dissertation will be needed to create the conclusion but will upload when agreeing first)
+
I need an executive summary (400 words)
this is the research question and hypothesis:
· Traditional banks that begin to offer more digital services, such as Fintech will be more competitive, efficient, and profitable.
· Will banks begin to use more technological solutions become increasingly more prevalent in daily life.
· Will traditional banks that implement and use fintech with other users gain more profits, customer satisfaction and less yearly operating costs
· Do banks face more problems than solutions transitioning into Fintech on the long term
· Furthermore, the main research question is how the use of financial technology (fintech) changed the way traditional banks operate, and what does this mean for the future of banking
I need an analysis on the survey answers in 800 words in relation to the hypothesis and research question
+
I need to create a conclusion for the dissertation (600words)( the whole dissertation will be needed to create the conclusion but will upload when agreeing first)
+
I need an executive summary (400 words)
Executive summary
This is from the template my uni gave me
This is from the dissertation example i have to make something like that:
Executive Summary
This research covers the use of cognitive neuroscience and neuromarketing in sales
and marketing strategies applied in business environments. The research proposes that
the use of neuromarketing has a direct positive impact on a company’s ability to convert
clients. The study’s literature review covers different neuromarketing tools and techniques such as facial coding, eye-tracking, and cognitive biases and how their use for both research and marketing strategies can help businesses to better understand their segment and how to tailor strategies to improve conversion rates and metrics.
Different case studies have been analyzed and their findings show that when
neuromarketing is correctly applied, companies can benefit from unrevealing powerful
information about their clients as well as improve the effectiveness of marketing and sales strategies.
The primary data collection based on a questionary, interviews, and an empirical study using facial coding software indicates that neuromarketing tools and techniques do have a positive impact on customer perception of the brand and willingness to purchase.
The data also showed that the use of facial coding helps us to better understand the
underlying reasons why customers are likely to present a specific behavior.
Conclusion
This is from the template they gave me from university
This is from the dissertation example i have to make something like that:
Conclusion
All in all, this paper focused on analyzing different studies that have been made in
a few of the major branches of neuromarketing as well as conducting an experiment to
validate and test neuromarketing techniques.
The literature review covered the history of neuromarketing and how this field has
been growing in the past years. Four major neuromarketing tools (facial coding, eye-
tracking, electroencephalogram, and neuroimaging) and different neuromarketing
techniques (use of colors, cognitive biases, heuristics, etc) have been covered and
explored and over 30 practical case studies and their findings have been mentioned and
analyzed. Previous research indicates that although it is hard to quantify the degree to
which neuromarketing can help a company increase sales amounts it does show that the results that come from implementing neuromarketing practices are positive both in marketing and sales performance.
Cases like Astro Pay (Kaminska,2022), Re:member (Hotjar, 2022), and Brand 24
(Hotjar, 2022), have shown that neuromarketing tools like facial coding and eye-tracking
can be used to identify problems and increase companies’ conversion rates. Other
studies have shown that neuromarketing techniques can help companies to better
understand consumer behavior, like how the height of a product in a store affects
customer perception (Van kerckhove, Geuens, and Vermeir, 2015), to predict if a product is likely to perform well in the market (Ullah et.Al, 2022), and predict future sales (Gregory S.Berns and Sara E.Moore, 2011).
The primary research has shown that the use of cognitive biases, heuristics, and colors can have a direct impact on how people perceive a brand. They also allow us to nudge customers and impact their behavior by using their unconscious to induce specific behaviors.
The facial coding experiment has shown that neuromarketing techniques do have
an impact on customers' preferences and are aligned with the findings and assumptions
of previous studies. The experiment showed that the use of colors, cognitive biases,
music, and other techniques can create a better perception from viewers and also showed that this type of analysis helps to understand the underlying reasons for certain customers’ behaviors and perceptions.
Overall, this study has shown that neuromarketing when correctly applied has a
direct impact on a company’s conversion rate, by improving the knowledge about
customers, which allows businesses to develop more effective and efficient strategies
that lead to better brand perception, positive attitude towards the brand, better sales
prediction, improved marketing metrics, etc. One of the advantages that come from83
neuromarketing is the ability that companies can have to predict behavior, adapt
strategies to catch customer attention, and nudge their perceptions and actions (Baños-
González, Baraybar-Fernández, and Rajas-Fernández, 2020).
Limitations
Despite the broad literature review, cases, and empirical research that indicates
neuromarketing does have a positive impact on brand perception, and the ability of a
company to convert clients, there are some limitations to this study.
Firstly, neuromarketing is composed of a broad set of tools and techniques, and this
research focused on understanding some of the major ones. It is important to bear in
mind that although the findings are promising, there are still more techniques and tools
that should be further evaluated and tested.
Secondly, this research aims to identify if neuromarketing techniques do have a direct impact on customer perception and willingness to purchase. The findings of the empiric experiment indicate that the use of cognitive biases, for instance, does influence viewers' perception of the brand and decision-making process. Despite that, the study
was limited to a sample size of 10 individuals, which is not the most appropriate sample
size for higher data reliability. For a strong reliability of the results, it is often necessary to collect a minimum of 50 reactions as explained by both Raquel Fructos and Pablo
Filomeno during our interviews.
Directions for future research
As it was mentioned by the interviewed specialists and other authors, one the
biggest problems the field of neuromarketing faces are the high technology costs and the lack of democratization of such field. It is critical that neuroscience and neuromarketing start to be more present in universities to not only increase awareness but also expand the amount of research and applications of neuromarketing.
It is also recommended that companies start to give more emphasis to
neuromarketing research and knowledge management systems to both develop internal
knowledge about their segments as well as disseminate such knowledge internally. This
would also allow the company to compile historical data on its customers which would
likely improve decision-making and be reflected in the company’s results.
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