WHAT IS NEUROMARKETING?
Neuromarketing is a new field of marketing that uses neuroscience, psychologyand other cognitive science techniques to study consumer responses to marketing stimuli.Some of the responses measured include eye tracking, heart rate, electroencephalography -EEG, functional magnetic resonance imaging - fMRI, galvonic skin responses and more.For example, neuromarketing research can tell a seller what a buyer really doeslike about a package. Does a sexy packaging really stimulate young men in the way it was planned? Neuromarketing research can help answer that. Neuromarketing research can tella seller if a potential buyer has increased brainwaves in areas of the brain the seller maywant to stimulate, such as the amygdala, an important brain structure heavily involved inhuman emotions.Many of the top companies in the world have already turned to neuromarketingresearch to gain an advantage in the advertising world. Much of the rush onneuromarketing occurred following an article published in the 2004 edition of Neuron.This study involved the “Pepsi Challenge.”During a taste test between Coca-Cola and Pepsi, 67 people had their brainsscanned. After studying results showing stronger responses in the brain’s ventromedial prefrontal cortex after tasting Pepsi, and the lateral prefrontal cortex and the hippocampusresponses after told they were drinking Coke, an interesting conclusion was drawn.What neuromarketing research showed is that the taste of Pepsi alone should haveallowed it to share about 50% of the market share, but it didn’t. People were choosingCoca-Cola based on their personal experiences with the Coca-Cola brand name. This couldallow Pepsi to divert money that would have gone into improving taste, into increasing the positive impression the Pepsi brand has on people