NEUROMARKETING – SCIENCE AND PRACTICE

Martina Hedda Šola

FIP - Journal of Finance and Law, 2014, vol. 1, issue 1, 25-34

Abstract: The excessive number of brands on the market leads to information overload. Technical specifications on most products prevent a regular consumer from determining the product’s real value. Urbanisation of a modern society creates an environment with too many shops offering similar products. This is precisely why it is essentially important to explore the methods of a neuroscientific discipline, in order to find out whether marketing choices that have been made lead to maximum consumer satisfaction. Neuromarketing, as a scientific discipline in the field of marketing research, represents an implementation of neuroscientific methods, with a purpose of a better understanding of human behaviour. As a sublimation of two scientific disciplines-consumer behaviour and neuroscience - neuromarketing replaces the traditional types of marketing research. The purpose of this article is to introduce the postulates and the methodology of neuromarketing application, from the scientific and professional point of view. Therefore, it offers an overview of empirical research, analysis of techniques used in practise while conducting neuromarketing research, and the effect of their mutual interaction on the economy. With a comparative analysis of the influence neuromarketing has on the promotion of a marketing campaign, this paper determines the technological and general limitations in doing research, which have a direct influence on: product development, graphic design, distribution and promotion of products/services in general. In conclusion, we could claim that neuromarketing is a discipline that represents a quality addition to marketing research, in which the provided data analyses can be used in a way for companies to produce and sell products in accordance with consumer preferences.

Keywords: neuromarketing; marketing research; consumer behaviour (search for similar items in EconPapers)
JEL-codes: D03 M30 M31 (search for similar items in EconPapers)
Date: 2014
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