Neuromarketing: Applications, Challenges and Promises

Abstract

Neuromarketing is a field of marketing research that studies consumers sensorimotor, cognitive, and affective response to marketing stimuli. Consultative selling suggests that a customers shopping experience is managed by the salespersons behaviour and in-store marketing assets, and that the customer gets engaged step by step. The field of neuromarketing provides excellent avenues for reading the consumers mind, interest, preferences and thereby enable the marketers to perform effective targeted marketing. The technology offers a direct peak into the decision-making centres of the brain thereby can positively impact upon the decision-making process towards buying a product. Neuromarketing employs several techniques and tools for analysis of inside\textbackslash{}outside reflexes of the consumers brain and it avails the latest cognitive scanning techniques for analysis. Some of the technology infused neuromarketing inside reflex techniques used includes EEG, MEG, fMRI, PET, Galvanic skin response, TMS, electromyography and cardiovascular parameters. Besides there are also several time-tested conventional techniques of outside reflex detection techniques such as body language, emphatic design, facial coding, eye tracking is also employed in neuromarketing. The concept of neuromarketing is bound to make a deep impact in the emerging economies like India with their rapidly increasing consumer population and consumer buying potential. Biomedical Journal of Scientific & Technical Research Cite this article: Pravin Raj Solomon. Neuromarketing: Applications, Challenges and Promises. Biomed J Sci & Tech Res 12(2)-2018. BJSTR. MS.ID.002230. DOI: 10.26717/ BJSTR.2018.12.002230. Volume 12Issue 2: 2018 9137 can tweak the next generation of smart customers and highly competitive consumer market. Neuromarketing technique is the latest and advanced tool used by marketing researchers to study and understand the consumer behaviour patterns [3]. Neuromarketing uses cutting edge techniques in brain scanning to understand the nuances behind the psychological decision-making process of the customer [4]. Measurement of the brainwaves may ideally reveal consumers subconscious responses to marketing stimuli [5-9]. By Neuromarketing one can positively single out the element of an advertisement that creates a feel-good effect in the minds and memories of the customer [10-12]. This can help with the selection and timing of visual and audio features for an effective advertisement [11]. This will affirmatively help in the creation of brands, brand research and its effect on decision-making process of the customer [13]. Neuromarketing opens avenues to study and identify the causes of compulsive purchasing disorders and offers its potential use in effective marketing [10,11,14,15]. Neuromarketing is a unique technique than can procure information above and beyond the level of human cognition and perception because purchasing is largely a subconscious process [8,11,13,16-18].