Neuromarketing
Chapter from the book:
Yılmaztürk,
Y.
&
Akdoğan,
Ç.
(eds.)
2023.
Selected Topics in Marketing: Concepts and Studies.
Synopsis
Neuromarketing is an important study subject that combines neuroscience techniques with marketing and consumer behavior and opens new research areas in the field of marketing. Neuromarketing is a powerful tool to understand the connection between brain activity and consumer behavior, to understand the conscious and subconscious decision making processes of consumers, to explain consumers' preferences, motivations and expectations, and to predict consumer behavior. It uses techniques and tools used in neuroscience and medicine to measure the reactions of the minds of consumers to marketing stimuli, which is especially impossible with traditional marketing methods. One of the main benefits of neuromarketing is its potential to measure accurate, objective data that can be used to make informed decisions about marketing problems and research.
Neuromarketing is a new area of research with enormous potential. With technological developments and advances, like making the tools used in neuromarketing more cost-effective, more portable and usable, will contribute to an increase in the number of researches, especially considering that the world advertising market is over 400 billion dollars. However, neuromarketing should not be thought of as the answer to every question, like a magic wand. As a new field, research costs are high and there is no standard for analysis. From an ethical point of view, it also causes reservations such as neuromarketing can control the free thinking and purchasing processes of the human brain.
In this cheapter, firstly, the basic concepts of neuromarketing and neuroscience and basic information about how the brain structure works are presented. Then, the tools used in neuromarketing, the areas where neuromarketing applications are used in the field of marketing and finally ethical concerns are mentioned.