nNeuromarketin1.doc - Neuromarketing Towards a better understanding of consumer behavior Keshav Bhatia Assistant Professor GL Bajaj Institute of

nNeuromarketin1.doc - Neuromarketing Towards a better...

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Neuromarketing: Towards a better understanding of consumer behavior Keshav Bhatia Assistant Professor, GL Bajaj Institute of Management & Research Abstract In recent years, long-standing science, advanced technology, and complex management have come to a common ground that researchers and marketers are able to map science to marketing. Neuromarketing is an important development in the field of understanding how the subconscious mind helps the consumer to take decisions. Marketers sublimely attract the customer towards their product. For this ground breaking research has taken place in various areas of studying the human brain. Innovation in techniques is taking place by neuroscientists, and the field of neuroscience is being tapped into extensively. Consumer behavior is impacted creatively so that the customer gravitates towards the desired product. Neuromarketing is expected to be used extensively by marketers as knowledge about this grows. Neuromarketing is believed to provide more accurate insight into people’s psychological reactions to these stimuli and, hence, their actions in buying situations because people can’t always verbalize their feelings and thoughts in accurate, unambiguous ways. Key words: Neuromarketing, Consumer Behaviour, Marketing, Research, Neuroscience, Advertising, Emotions, Decision Making, Body language, Neuroscience: The application of neuroscience to marketing has gained increasing popularity over the last decade. The birth of the nascent field of consumer neuroscience generated wide–ranging, ongoing debates what benefits they take. (Ariely & Berns, 2010, Ariely et al 2005, Kenning & Plasmann 2008; Lee, Broderick & Chamberliain, 2007) It is worth noting, that the term neuroscience, while used regularly in this field, is too broad for the study of consumer behavior. A primary and critical distinction is between “consumer neuroscience” should be understood as the scientific study of biological bases of cognitive and affective processes underlying consumer behavior. A primary, and critical distinction is between “consumer neuroscience, which refers to academic research at the intersection of neuroscience, psychology and marketing” and “Neuromarketing, which refers to practitioner and popular interest in neurophysiological tools-such as eye tracking, skin conductance, electroencephalography (EEG) and functional magnetic 1 | P a g e
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resonance imaging (fMRI)”- to conduct company specific market research. Neuromarketing has received considerable attention in the corporate world. Neuroscience is in general the study of the nervous system. Neurology denotes the study of brain disorders and their effect on cognition, emotion and behaviour. We should divide in “cognitive neuroscience” and “affective neuroscience”. Cognitive neuroscience describes the scientific study of biological substrates of cognition (attention, memory, problem solving) and affective neuroscience is the study of the brain bases of emotions and feelings. Together they imply “consumer neuroscience”.
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