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Neuro-Marketing Theory Of Marketing

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The economy has started to study the consumers in more detail. Introducing new methodology in marketing, is now changing the way an individual choose to spends his time & money into things related to purchase i.e. what, where and the frequency of it. The key assumption, which is the basic marketing concept, lies on the premise that a supplier shouldn’t sell a product that he has created rather should create a product that can be sold to the consumer reading the liking the consumer is having. Thus this is the reason why objects of marketing research are the desires and needs of consumers. Although there is a huge disproportion between what the consumers say they think and what they actually think, the seller can develop a more effective marketing …show more content…

Increasing sales of products, a company can make every marketing promotion measurable, by using a quantitative method of testing the direct influence of certain advertising campaigns on subconscious of a consumer. Scientific research in neuroscience and marketing indicates that neuromarketing will cause a revolution, enabling us to see the differences below the …show more content…

Thus all the decisions are basically from the sub-conscious part of the brain known as reptilian brain. Therefore, we can say that neuro-marketing begins in the brain and perception of the consumer and where the traditional marketing research of consumer behaviour ends.

Methods used in Neuromarketing

Methods generally accepted in generating neurological visualization can be divided into three categories:

1. BIOLOGICAL METHODS
• FMRI – visualizes the specific neural activities in the brain during the decision making.
• EEG – by recording the data sent by brain in electric signals when a consumer decides to buy a product.
• MEG – it is used to measure magnetic field around the electric signals of brain which are produced when the final decision in in process.
2. ECONOMIC METHODS
• Game Theory – simulated situations for detecting the individual’s behavior, where success depends exclusively on the choice of another individual
3. PSYCHOLOGICAL METHODS
• Different behavioural studies and analyses

These neuroscientific methods analyse the human behaviour with the aim of finding out what happens on a structural and functional level of a human brain. There are three wide components used for conducting neuro-marketing research of consumer

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