Neuromarketing: You think it, They know it

When it comes to the classic question of "If you could have any superpower, what would it be?", a marketer's answer would understandably be "mind reading". The consumer mind has always been a dark, mysterious place that marketers are constantly trying to tap into.  Through different forms of research like surveys and focus groups more data has become available, but there is always that gap of what the consumer says and what the consumer feels and feelings are what drives buying decisions.  So how have marketers done the impossible? Drum roll, please.  They call it Neuromarketing! The use of neuro technology for marketing.  The following are some techniques used by neuromarketers to gain information on consumer responses: Functional Magnetic Resonance Imaging (FMRI) which shows neural changes in blood flow, Steady State Topography (SST), Electroencephalography (EEG) which records the brains electrical activity due to a stimulus, Eye Tracking, and Galvanic Skin Response which shows the body's topical response. Now that a lot of big words were just thrown out the basic principle is that Neuromarketing practices give marketers a realistic, real time breakdown of a consumer response to a stimulus. In this video Jack Bush walks us through the basics of using Neuromarketing techniques.

Feeling exposed? It is safe to say that this practice is something that can be argued both ways, but let's try and concentrate on whats important. Money. More effective ads mean more dollars in their pockets and less in ours. The trade off? We get products that we think we need! Companies like Frito-Lay and The Weather Channel have already used Neuromarketing to attempt to crack the code of consumer decisions. In Frito-Lay's attempt to appeal more to woman they studied the female brain. Their findings showed that they should focus more on "healthy" associations. The Weather Channel used eye tracking and EEG to gain knowledge on reactions to pitches of possible programming. With these techniques companies get the kind of information they've been scratching their heads about for years.

It is clear that this type of research won't lose momentum anytime soon. Neuromarketing will continue to shine light on consumer decision drivers and for consumers these techniques will lessen the gap between the marketer and your wallet.

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In my attempt to implore my thoughts about business and marketing I hope to be both entertaining and insightful. Marketing drives you and I into the belief we need something and by marketing to you, I will attempt to make you feel you need my blog. I am up to the challenge. I'm a full believer in the wonders of Marketing and look forward to reflecting upon different topics that come our way. Thank you for reading - happy blogging!!