Neuromarketing is helping businesses save time and money while reducing risk in a number of areas. Read below how...
Consumer neuroscience (the most recent term used to describe neuromarketing) is a powerful tool that provides meaningful insights regarding the non-conscious processes that underlie consumer behavior and decision-making. It allows marketers to measure people’s emotions while they are interacting with a brand or product. It also shows whether the brand’s promise is credible, as well as whether or not consumers believe competitors’ claims.
While the term neuromarketing may sound foreign to many marketers, its basic premise should not be. It was established among marketers in the 1970s and championed by Al Ries and Jack Trout1, who emphasized the importance of the mind in predicting the success of a product. They maintained that, “Positioning is not what you do to a product. Positioning is what you do to the mind.” In fact, they named their landmark 1981 marketing strategy book Positioning: The Battle for your Mind. If the brain is indeed the battleground, then neuromarketing illuminates the terrain.
Neuromarketing is helping businesses save time and money while reducing risk in a number of areas. It does so by identifying emotional and non-conscious triggers that drive brand preference and purchasing behavior. Research shows that consumer behavior relies heavily on automatic actions and evaluation processes that happen below the conscious level. These processes cannot be detected by traditional research methods that rely on peoples’ declarative claims. Hence, the added value that neuromarketing brings to businesses and market research stems from its ability to pinpoint those subtle reactions and interpret them in the business context.
To find out all about Neuromarketing Applications (new product development, entering new markets, assessing current marketing efforts, predicting in-store behaviour) and the Processes needed to get end-results, read the rest of this article here.