Unveiling the Consumer Mind: Neuromarketing Insights for Strategic Engagement

Dr. Ch Siddharth Nanda, Associate Professor, School of Business, Woxsen University
C0012

Feb2024

Introduction

Neuroscience is concerned with nervous system anatomy and brain function, whereas neuromarketing is a blend of neuroscience and marketing that recognizes the emotional connection between brand name and helps to organize, build, and market campaigns. Neuromarketing is the study of how advertising and branding affect the brain.
Various technologies, including FMI and electroencephalography, are used to detect brain activity in advertising messages. This data enables businesses to better understand and motivate the consumer decision-making process.
Eye tracking is also used to detect attentiveness, as is intriguing facial coding that may monitor the movement of the face's muscular tissues.

What approaches in neuromarketing are used to neuroscience?

Neuroscientific approaches and procedures encompass a wide range of tools and techniques for measuring, mapping, and analyzing our brain's responses to diverse sensorial inputs. The following methodologies give emotional, cognitive, and behavioral data. Neuromarketing studies, however, do not represent all neuroscience methodologies. Neuroscientific approaches in business and advertising research may be divided into three categories:

  • Brain activity recording techniques.
  • Techniques for recording additional actions.
  • Other methods for recording conduct and behaviour.

Numerous uses of Neuromarketing

  • Sales point analysis involves analysing consumer behaviour and experiences at a store or mall.
  • Animation evaluates experiences such as museum trips, TV shows, films, virtual reality, and video game play.
  • Industrial design evaluates product designs for utility and attractiveness.

Brands Using Psychology in Social Media Marketing

  • Coca-Cola undertook neuroimaging research to better understand how customers react to its brand and packaging. Brain activity was measured using Functional Magnetic Resonance Imaging (fMRI) scans while participants looked at various Coke can designs. The findings assisted Coca-Cola in refining its packaging to better connect with customers on a subconscious level. 
  •  Retailers employ neuromarketing to improve the in-store experience. They use eye tracking technology to discover the most visually attractive product placements and shop layouts. This contributes to optimizing shop design in order to encourage longer consumer stay periods and enhance the possibility of sales. 
  •  Ford used electroencephalography (EEG) to investigate how people perceive and respond to automobile designs. By studying brainwave patterns, Ford got information into potential purchasers' emotional responses to various automotive characteristics. This knowledge informed design decisions, resulting in automobiles that resonated more successfully with customers.

Conclusion

Neuromarketing is at the forefront of a paradigm change in how organizations perceive and communicate with their customers. This multidisciplinary subject, which draws on neuroscience ideas, provides a unique viewpoint on the complex world of consumer decision making. Neuromarketing has a wide range of uses, including product development, advertising, retail, and bringing in an entirely fresh phase of data-driven, scientifically informed marketing. Neuromarketing has its share of difficulties and moral dilemmas. Privacy concerns, the interpretation of neuroscientific data, and the responsible application of discoveries must be given serious consideration. Maintaining customer trust and guaranteeing the ethical development of neuromarketing will require finding a balance between technology breakthroughs and moral behaviour.

References:

  1.  Inside the Consumer mind, What Neuroscience can tell us about Marketing by Wendy Melillo Adweek, Commercial alert, January 16th, 2006. 8. Decision Neuroscience by Baba Shiv, Ale Smidts, Susan. J. Grant, A. Peter McGraw, Antonie Bechara, Irwin Levin, Joseph.W.Alba, James R. Bettman, Laurette Dube, Springer science, 2005
  2. Neuromarketing: What‟s www.sutherlandsurvey.com) it all about? By Max Sutherland
  3. Neuromarketing could make mind reading the ad-man‟s ultimate tool by Nick Carr, the Guardian, 3 rd April 2008.
  4.  https://www.bitbrain.com/blog/neuromarketing-examples-applications
  5.  Neuromarketing in the making Enactment and reflexive entanglement in an emergin by Schneider-2015
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