By Leigh Andrews
Roger Dooley of the Neuroscience marketing
blog describes neuromarketing as the place ‘where brain science and marketing meet.’ Wikipedia defines neuromarketing as a new field of marketing, as the term was only coined in 2002 by Ale Smidts. It involves the study of consumers' sensori-motor; cognitive; and affective responses to marketing stimuli. Researchers use technologies such as functional magnetic resonance imaging (to measure changes in activity in parts of the brain); EEG scans to measure activity in specific regional spectra of the brain response; as well as sensors to measure changes in one's physiological state, such as heart rate; respiratory rate; or galvanic skin response. This is thought to explain why consumers make the purchase decisions they do, and what part of the brain is responsible for this action. Wisegeek
adds that while there are concerns about the use of neuromarketing, the information gleaned from such research is intended to provide deeper insight into the human brain for purposes such as more effective advertising and brand loyalty campaigns.
Wikipedia feels that marketing analysts will use neuromarketing to better measure a consumer's preference, as the verbal response given to the question, ‘Do you like this product?’ may not always be the true answer, due to cognitive bias. This knowledge helps marketers create products and services that are more effectively designed, and marketing campaigns that are more focused on the brain's response. Neuromarketing
assists marketers in determining what specific element of the product the consumer reacts to, whether it is the colour of the packaging; the sound the box makes when shaken; or the idea that they will have something that their co-consumers will not.
Neuromarketing is the latest buzzword around the globe since Martin Lindstrom's book,
Buyology: truth and lies about why we buy. Lindstrom was recently
voted by Time magazine as one of the world’s 100 most influential people of 2009. Lindstrom feels that the accuracy of neuromarketing results depends on “good planning and thoroughly considered processes in order to elicit meaningful data from… observed brain activity.” Kevin Randall of the Fastcompany
blog feels that while Nielsen's recent investment in researcher, NeuroFocus, has increased the influence and credibility of neuromarketing; the “field is young and a bit like the wild west.” He says that many feel traditional market research is flawed because consumers often simply don't know the answer; can't articulate it properly; or will even lie in a focus group about their purchase motivations. He adds that neuromarketing research removes subjectivity and ambiguity, by going right to measuring observable brain behaviour. Respondent attention level; emotional engagement; and memory storage are common metrics used to analyse the impact of market research.
On the BusinessKnowHow
blog, Denise Corcoran states that neuromarketing can be helpful in determining why even the highest priced or lowest quality products sometimes outsell their competitors; why and how your prospects buy the products or services they do, even if their choices seem irrational or impractical; and why some brands have a devoted cult-like following while others have zero loyalty.
Corcoran adds that while neuromarketing is still in its infancy, “it has the potential to revolutionise the way we market our products/services. The most important point is to use it for the right reasons. That is, as a way to better understand your customers and ultimately to better serve them. When used in this way, it can have a dramatic impact on your bottom line.”
Randall concludes that neuromarketing is only poised to grow in use and influence. But, he states, “as the practice makes its way out of the lab and into the real world, at the grocery aisle, onto your computer perhaps... a debate, well beyond marketing, will rage.”
For more on neuromarketing and Buyology, click
here.
What do you think the implications of neuromarketing will be? Feel free to post your comments on our blog.
Caption: A sensor helmet as used by neuromarketing company, Mindmetic.