What is Neuromarketing?
Neuromarketing studies which emotions are relevant in human decision making and uses this knowledge to improve marketing's effectiveness. The knowledge is applied in product design, enhancing promotions and advertising, pricing, store design and the improving the consumer experience in a whole.
The field is on the intersection of marketing, neuro-economics, neuroscience, consumer neuroscience and cognitive psychology.
Neuromarketing in different areas of marketing
Neuromarketing in Market Research
The vast majority of companies under the umbrella of neuromarketing are active in the market research domain. These companies are experts in evaluating commercials, ads, new products, or even measure audience responses to media like broadcasting or movies.
Neuromarketing in Product Design and Packaging
How a product looks, feels and functions is affecting the consumer experience in a whole. Applying neuromarketing principles and neuromarketing testing can provide insights on the emotional effects of design choices.
Neuromarketing in Pricing
Marketers know for a very long time, that price is an important variable in the success of product and service. Knowledge on how price information is perceived and processed is the added value of neuromarketing in this part of the marketing process.
Neuromarketing in In-store Design
If every in-store decision was taken rationally, your weekly groceries would take up to eight hours. The success of retailers depends on how consumers experience their stores and services, how easy they can navigate and how products, price and promotions are presented (and perceived). Shopper marketing can be enriched by real time measurements of participants’ emotions in a lab or in-store situation. Retailers can also apply the scientific principles of neuromarketing in their retail environments.
Neuromarketing in (Professional) Services
The (professional) service industry depends largely on human interactions. How (B2B) consumer experience the quality of these services is basically an emotional process. This explains why the best offer for the best price does not always win the quote. Neuromarketing brings in some heuristics on how to act for a better quality. Or for a better perceived quality, because most of the time the decision is taken before the service is delivered.
Neuromarketing applied to advertising uses neuromarketing principles to develop ads and campaigns. While advertising is mainly a creative process, neuromarketing can add value by a better understanding the effects of ads on human beings. Neuromarketing is well developed in ad-testing on effectiveness. Predicting how well it is related to likability and sales.
Neuromarketing is currently looking for ways to apply the knowledge around to apply knowledge on ad effectiveness in an earlier stage of the creative process. Neuromarketing in Consultancy Neuromarketing consultants use their knowledge from consumer neuroscience and apply it in consultancy jobs in the different areas of marketing. Neuromarketing in 'Business to Business' it is rather unusual to state that purchase decisions in B2B environments are (at least partly) emotional. But these purchase decisions are made by the same brains as consumer decision making and it is unlikely that the principles for consumer decision making suddenly disappear once entering the office. Although there is currently not so much research around on this topic, it is expected that neuromarketing in B2B will grow in this area too.