The Application and Efficiency of Neuromarketing Tools in Marketing Research: A Comprehensive Review and Future Research Agenda

Elena Goga, Mihai Cristian Orzan, Camelia Goga, Claudia Cristina (BIZON) Stan and Danut Trifu
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Elena Goga: Bucharest University of Economic Studies, Bucharest, Romania
Mihai Cristian Orzan: Bucharest University of Economic Studies, Bucharest, Romania
Camelia Goga: Université de Franche-Comté, Besançon, France
Claudia Cristina (BIZON) Stan: Bucharest University of Economic Studies, Bucharest, Romania
Danut Trifu: Bucharest University of Economic Studies, Bucharest, Romania

PROCEEDINGS OF THE INTERNATIONAL CONFERENCE ON ECONOMICS AND SOCIAL SCIENCES, 2024, vol. 6, issue 1, 1040-1049

Abstract: Neuromarketing, with its automated and implicit processes, has a profound impact on understanding customer decision making and unveils concealed insights into consumer behaviour. There is an increasing interest among researchers in exploring how consumers' brain responses influence their decision-making processes. A primary goal in today's market is understanding what motivates consumers to choose one product over another. Although neuromarketing positions itself as a key research field to achieve this goal, it remains a relatively young and rapidly evolving discipline. Therefore, it is useful to present a comprehensive review of the scientific studies concerning the application of neuromarketing, with special attention to its diverse tool and outlining the distinct benefits that ensure the rigorous execution of high-quality neuromarketing research. The purpose of the present study is to provide a “comprehensive overview of the application of neuromarketing tools - classification of neuroimaging and physiological tools” - on the practice of marketing research. Thus, literature review was covered aiming academic papers, scientific articles and relevant sources in this field and using the methodology text-mining. The papers were selected between 2010 and 2023 using the search for “neuromarketing tools” in valid databases. Valuable results are provided especially for the use of “electroencephalography” (EEG) and “functional magnetic resonance imaging” (fMRI) regarding cost efficiency.Overall, this paper seeks to serve as a valuable resource for understanding the array of neuromarketing tools available and their advantages, achieved through bibliometric and content analysis studies. What distinguishes this research is its up-to-date review of neuromarketing tools and their proven effectiveness in targeted domains. Consequently, it provides valuable insights and guidance for both academic and business endeavours, aiming to enhance efficiency in marketing research and inspire future investigations.

Keywords: consumer behaviour; decision-making process; neuromarketing; “electroencephalography” (EEG); “functional magnetic resonance imaging” (fMRI). (search for similar items in EconPapers)
JEL-codes: M31 O32 (search for similar items in EconPapers)
Date: 2024
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