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ISSN (ONLINE): 2250-0758, ISSN (PRINT): 2394-6962


Volume-6, Issue-5, September-October 2016
International Journal of Engineering and Management Research
Page Number: 13-15

Neuromarketing: Identifying and Satisfying Consumers Latent Wants


A Review
K. Hari Krishnan1, Joseph Jeya Anand2, Saju B3
1,2,3
VIT Business School, INDIA

ABSTRACT
Possessing the state of the art technology, superior
products, excellent service and best marketing do not assure
companies that the prospects will always buy their products.
Recent years have witnessed advances in Neuromarketing to
a great extent that application of neuroscience in marketing
termed as Neuromarketing emerged as novel academic and
commercial disciplines.
In this article we review the current and past
research in the field of Neuromarketing and critically analyze
the neuroscience tools and methods used to study directly the
intensity, spot in brain and instance of brain activity with
great degree of precision and applied for strategizing
Neuromarketing. Thus this studyidentifies the potential of
Neuromarketing in the field of consumer behavior
applications and attempt to envision the scope of
Neuromarketing to wider conceptualization of marketing
science. This article also suggests future research directions
and commercial scope of Neuromarketing.

Keywords--- Consumers, Equipment, Commercial

I.

INTRODUCTION

People are fairly good at expressing what they


want, what they like, or even how much they will pay for
an item, but they arent very good at accessing where that
value comes from, or how and when it is influenced by
factors like store displays or brands. Neuroscience can help
to understand those hidden elements of the decision
process (Nobel, 2013; Karmarkar, 2014).
Neuromarketing is an emerging branch of
neuroscience in which researchers use medical technology
to determine consumer reactions to particular brands,
slogans, and advertisements. By observing brain activity,
researchers in lab-coats can predict whether you prefer
Pepsi or Coke more accurately than you can (Phan, 2010).
The application of neuroscience in Neuromarketing and in
particular to the consumer psychology has emerged as

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Neuromarketing (Plassmann et al, 2012). The advancement


in neuroscience technology and tools such as eye tracking, brain scanning and imaging equipment towards
understanding how consumers brains are responding to
products, services, apps, advertisements, buying
experiences and brands offered by marketers are being
tested and understood with high accuracy. These accurate
understanding of consumer psychology and behavior at its
origin (brain) through neuroscience tools and methods and
applied strategically for marketing has emerged as
exponentially growing Neuromarketing field.
Neuroscience research encompasses studies of
single brain cells to studies on different parts of brain
areas. Plassmann et al. (2014) opine that due to complexity
of consumer behavior, insights from system neuroscience
are crucial for consumer neuroscience thereby for
Neuromarketing. The term Neuromarketing was coined by
Erasmus University Professor Ale Smidts in 2002 and the
general premises of the research in the field of
neuroscience applied to Neuromarketing was not widely
recognized until first Neuromarketing conference in 2004.

II.

OBJECTIVE

The objective of this study is to provide an


overview of the recent and the past research in the area of
neuroscience applied to Neuromarketing. Also to provide
our view on future scope and potential of Neuromarketing
thereby widening the boundaries of Neuromarketing in
commercial terrain.

III.

METHODOLOGY

This research article systematically reviews,


identifies, apprises and synthesizes research evidence and
perspectives from individual studies and on a strict
protocol and consequently makes a valuable source of
information. This rigor approach ensures all important and

Copyright 2016. Vandana Publications. All Rights Reserved.

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ISSN (ONLINE): 2250-0758, ISSN (PRINT): 2394-6962

relevant research bases have been considered and a valid


analysis of the original studies has been made, minimizing
the risk of bias, providing a transparent study enable for
replication.
This article takes cognizance of the analysis and
findings of the research works published in the reputed
scholarly journals, magazines in various mediums. Studies
pertaining to Neuromarketing in various laboratories are
compiled, reviewed and discussed in this article.

IV.

OLD BRAIN THE DECISION


MAKER

Renvoisand Morin ( 2007), report that brain can


be categorized into three distinct parts that act as separate
organs with different cellular structures and different
functions. According to Renvois and Morin( 2007),
although these three parts of the brain communicate with
each other and constantly try to influence each other, each
one as specialized function.The new brain thinks. It
processes rational data.The middle brain feels. It processes
emotions and gut feelings. The old brain decides. It takes
into account the input from the other two brains, but the
old brain is the actual trigger of decision.
The old brain, in addition to processing input directly from
the new brain and the middle brain, responds only to six
very specific stimuli, which, if mastered, give you the key
to unlocking the decision-making process. 1) SelfCentered; 2) Contrast ; 3) Tangible Input ; 4) The
Beginning And The End; 5) Visual Stimuli and 6)
Emotion.

V.

BRAIN IMAGING
TECHNOLOGIES

Each second we are exposed to an estimated 11


million bits of information that reach us through all our
senses, yet humans are capable of processing only around
50 bits of that information, letting most of the input go by
unnoticed (Wilson, 2002).
There are multiple types of brain-imaging
technologies used in current Neuromarketing studies:
fMRI (functional magnetic resonance imaging), QEEG
(quantitativeelectroencephalography),
and
MEG
(magnetoencephalography). All three imaging techniques
are non-invasive and therefore can be used safely for
marketing research purposes. That is why they constitute
the bulk of studies that have been published in the last five
years. Each method has its pros and cons.
However, the fMRI method is currently the most
popular amongst marketing companies, since it utilizes
mainstream technology to produce clear images of realtime brain activity (Bridger and Lewis, 2005). As an
imaging technique, the process also translates results more
easily into laymans terms: rather than presenting data in

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strings of incomprehensible numbers, fMRI technology


gives people the opportunity to actually visualize the
activity patterns in their brains (Bloom, 2006).
FMRI works by gauging amounts of hemoglobin,
the oxygen-carrier on red blood cells, in certain parts of the
body. For mental imaging, the machine measures the
amount of oxygenated blood throughout the brain and can
pinpoint an area as small as one millimeter (Lindstrom,
2008). The harder a specific area of the brain is working,
the more oxygen it requires; so when the fMRI machine
scans the brain, it picks up on the areas with concentrated
amounts of hemoglobin and displays them as regions of
high mental activity on the computer screen. These
computer images are what researchers use to identify the
parts of the brain being utilized. The key element for a
marketing researcher to understand is the contrast of the
BOLD signal measured by the fMRI. BOLD is an acronym
for Blood Oxygen Level Dependant (Morin, 2011).

VI.

NEUROSCIENCE TECHNOLOGIES
AND NEUROMARKETING

For neuromarketing, scientists use fMRI to


observe areas of the brain that respond to consumer-based
stimuli, such as particular brands, price ranges, and even
taste preferences (Bridger
and Lewis, 2005). The
researchers have found that the regions in the brain
corresponding to the prediction of gain and loss (the
nucleus accumbens and the insula, respectively) are
indicators of behavior and reaction to finances and
economics (Schnabel, 2008 ). In other words, we make our
decisions based on cursory judgments of whether we will
gain or lose money when purchasing a product.
According to Hannaford, ( 2013) the neuromarketing
industry isnt just interested in what makes shoppers
choose the products they do in the supermarket. Much of
their work is done before theyve even walked through the
door.
Karmarkar (2014) reports that when tracking
brain functions, neuroscientists generally use either
electroencephalography (EEG) or functional magnetic
resonance imaging (fMRI) technology. EEG measures
fluctuations in the electrical activity directly below the
scalp, which occurs as a result of neural activity. By
attaching electrodes to subjects heads and evaluating the
electrical patterns of their brain waves, researchers can
track the intensity of visceral responses such as anger, lust,
disgust, and excitement.
Lee et al (2006) suggest that applying
neuroimaging to marketing research problems should
allow us to understand far more clearly the impact of
marketing techniques, as well as gain insight into key
problems concerning business relationships, answers to
which have previously remained elusive.

Copyright 2016. Vandana Publications. All Rights Reserved.

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ISSN (ONLINE): 2250-0758, ISSN (PRINT): 2394-6962

VII.

CONCLUSION

The body of knowledge in the field of


neuroscience and Neuromarketing which are endowed by
continuous studies and experiments conducted worldwide
have given impetus to commercial application of
neuroscience in novel, reliable and valuable solutions for
marketing thereby establishing strong foundation for
Neuromarketing. Neuro prototyping solutions are provided
by professionals using neuroscience to select individuals,
build creative teams and improve creative potential.
Neuroscience is applied for creative ideation and for
prototype development. Neuroscience tools and theory are
applied to measure and understand consumers responses
to the new solutions.
Virtual Reality and augmented
Reality techniques of Neuromarketing are applied for
product testing to assess the consumers perception prior to
launch of products on commercial basis. High tracking,
heat map techniques of neuroscience are used to test
advertising success across different media and channels.
This article reinforces and emphasis the wide application
of Neuromarketing and its enormous scope and potential in
the field of marketing activities of business world.

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