October 5, 2020
Neuromarketing - A marketing of future
Neuromarketing is a field of marketing which aims to study brain responses to various marketing stimuli using technologies such as fMRI, EEG, eye tracking, facial coding, biometrics. It includes the direct use of brain imaging, scanning, or other brain activity measurement technology to measure a subject's response to specific products, packaging, advertising, or other marketing elements. Neuromarketing is a recent emerging disciplinary field in marketing.
Overview of Neuroscientific methods
1. More efficient and effective marketing campaigns and strategies.
2. Fewer product and campaign failures.
3. Manipulation of the real needs and wants of people to suit the needs and wants of marketing interests.
HOW DOES IT WORK?
The concept of neuromarketing combines marketing, psychology and neuroscience. Researchers investigate and learn how consumers respond and feel when presented with products and/or related stimuli. Observations can then be correlated with a participant's surmised emotions and social interactions. Market researchers use this information to determine if products or advertisements stimulate responses in the brain linked with positive emotions.
4. Digital surrounding
5. Other applications
To run a complete marketing research, the usage of both neuromarketing and traditional marketing experiments are necessary. Neuromarketing is also limited by the high costs of conducting research. Research requires a variety of technologies such as fMRI, EEG, biometrics, facial coding, and eye-tracking to learn how consumers respond and feel to stimuli. However, the cost to rent or own these technologies and even then a lab may be needed to operate the aforementioned technologies.
1. Frito Lay
Frito-Lay has used neuromarketing in both their TVCs and package designs. A few years back prior to a product launch in the potato chips segment, they did some product design testing and the result yielded some crucial findings. They discovered that shiny bags with pictures of chips triggered negative responses compared to bags with a matte design. In conjunction with in-depth interviews, these findings eventually resulted in changes regarding to color, typing, imaging etc. This became the end of shiny Frito-Lay bags in store shelves.
Hyundai and their prototype tests is another famous case regarding the use of neuromarketing in design. Hyundai used EEG technique to evaluate design. While letting consumers examine car prototypes, Hyundai used the EEG to understand preferences and what kind of stimulation that can lead to purchase decision. Hyundai later did some exterior design adjustments according to the findings.
1. Breaking through the clutter has proved to be an increasingly difficult task in this day and age, and marketers are always searching for an advantage.
2. Understanding the most basic roots of human emotion is vital in comprehending a consumer's’ purchasing behavior.
3. The beauty of neuromarketing is its ability to integrate into both your outbound and inbound marketing strategies.
4. Awareness of the marketing tactics that could impact your efforts will be the best way to get better results with less money.