Every new product launch campaign requires adequate market research, advertising, product design and pricing. But not all products launch campaigns are successful in grabbing consumer attention. Guess work plays a very important factor in determining product’s success. Removing this guesswork can be dream of every marketing firm. However with NeuroMarketing this dream has become a reality. This new field of marketing extends well beyond traditional marketing technique.
NeuroMarketing is a new field in marketing which applies human brain mapping, eye tracking and skin conductance mechanism to understand human behavior. This new brain mapping techniques can help understand human subconscious mind and how it influences your buying decisions. Companies are using this technology to determine the consumer’s reaction to their product and trying improving their products accordingly. For example one of the major publishing house “New Scientist magazines” used this technology to compare three different magazine cover. They wanted to find out the subconscious response of human brain to theses covers. They also used eye tracking to determine which part of magazine cover grabs maximum attention of consumers and engage consumers to their magazine. This data helped “New Scientist magazine” to redesign their cover and improve their market share significantly. Can Neuromarketing Research Increase Sales?
Many people argue that NeuroMarketing is unethical. It subjugate human mind and manipulate it for personal l benefits. It will violate personal privacy and influence human decision process. Secondly it favors big corporation like Nike, Reebok, Coke, and Pepsi which can afford this technology and help them to market their product. This will curtail competition and small players in market would not be able to compete their products even though they products have better or same quality and price. Personally I don’t buy any of these arguments against NueroMarketing but I do feel it make inroads into our personal space and influence our decisions.
I strongly feel that we still have long way to go to truly understand the potential of neuroscience and NueroMarketing. How this can benefit people and society as a whole? The scope of this new technology is not just limited to marketing but can be extended to so many new verticals for both profit and nonprofit organizations. For example it can help governments to engage people and convey valuable information. It can also be used in Designing health campaigns or public information campaign to engage local public. Understanding the Potential of NeuroMarketing.
Maybe, I am in favor of this technology and trying to influence your decision but it’s totally up to you to decide and comments ;)
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