Neuromarketing is a phenomenon that combines the psychological components and neuroscience to determine how marketing campaigns affect people. So instead of consumers telling us what they think about the advertisement, neuromarketing is more of a scientific factor into what consumers may not verbally tell us about the advertisement. This can be a better way or a good supplement to a traditional survey to measure people’s feelings towards a marketing campaign because people can lie, intentionally or unintentionally, and inform the company what they think the company wants to hear. If the consumer does not offer truthful feedback about the product or service, the company may never know how to improve a problem or fix a problem. Simple measuring techniques to neuromarketing include dilation of the pupils, muscle movement, and temperature of the skin.
Neuromarketing can assist with finding out when people are excited about certain products, but will this really help to forecast the purchasing power of consumers?
The Times online article states that in 2006, Big Business spent a cool $8 million on marketing strategies including figuring out customers potential spending habits and advertising products and services. Now that it’s 2010, I am almost certain that companies are spending more on marketing and may now include neuromarketing (with the acknowledged participant being compensated).
Neuromarketing will help companies and it is very beneficial; however, there are other factors that companies must think about like consumer preference, price, and geographical locations among others. Basically, although a potential consumer may have a positive feeling (proven from neuromarketing) towards a product or service, other reasons can prevent the consumer from purchasing.
Think about it,
Jefo
