Academy of Strategic Management Journal (Print ISSN: 1544-1458; Online ISSN: 1939-6104)

Abstract

Data Mining PPV an Applied Deep Leaning Neuromarketing Tool to the Performance of the Point of Sale Promotion: A Quantitative Study

Author(s): Miguel Magalhaes, Manuel Sousa Pereira, Cristina Costa Lobo, Antonio Cardoso, Frederico DOrey, Teresa Santos Ferreira

The Data Mining Promotion Point of Sale application algorithm is an online digital marketing application, user friendly, economical, interactive, and ecological, capable of transforming "data" in real-time into "knowledge" to allow marketeers to make agile decisions. To respond to the current challenges of the Point of Sale (PPV), Pereira, P. and Magalhães, M. (2019) developed a Deep Learning solution that incorporates Neuromarketing which allows the making of Promotion campaigns at the Points of Sale (PPV) more effective. Through the Data Mining PPV system, the manager of a point of sale will be able to answer the following questions: What is the profile and time of the Consumers who enter the Store? Who are those who see advertising campaigns? How many advertising campaigns were run and attracted Consumers? Can you quantify the time when “impulse sales” were made by consumer profiles resulting from the visualization of the “advertising campaigns” shown? As a methodology we use a Data Mining PPV application implemented in 20 convenience stores, in a company that produces and sells fuels, having its own network, with more than 200 service stations for fuel supply, where there is also, in each station, a convenience store. As a result of the test carried out during 234 calendar days, in 20 convenience stores, with the Data Mining PPV application, it allowed the marketeer to collect and process data in real-time. During the period in question, 3,276,000 visits were recorded and collected through a screen placed above the cashier's location. We saw an increase in “impulse sales” of around 30%, allowing us to display the right “ad”, at the exact “time”, for the right “persona”, allowing us to monitor in dashboards the effectiveness and efficiency of advertising campaigns carried out by a point in terms of volume and sales value. Regarding the limitations of the study, we can mention that this study focuses on a company that produces and sells fuels, with the sole purpose of observing, analyzing, and winning over its customers in its convenience stores. As for originality and value, we can record the use of a sample relevant to the study in question and an efficient and current method to collect and process data in real-time, increasing sales significantly.

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