What is Neuromarketing?

Neuromarketing is one of the new marketing strategies in play today. It involves use of medical technologies like functional Magnetic Resonance Imaging (fMRI) to analyze how the customer’s brain responds to the marketing changes. With this study, researchers try to measure some changes in the activity of the brain with an intention of understanding why the customers make the decisions they make and which part of the brain instructs them to do so. The main reason why marketing analysts conduct neuromarketing is to provide better means of measuring customers’ preferences. Traditionally, questions like “What is your take on this product?” or “Do you like this product?” are used but many customers do not give their honest opinion in many cases. With the knowledge obtained through this new strategy, marketers are able to design products and services more effectively and focus marketing campaigns on the customer’s brain response. This is because the technology will enable these marketers understand well what really triggers the interest of the customer; whether it is the color of the packaging used, the shape of the product or any other aspect. If there is any aspect of the product which doesn’t appeal the customers, the markets will also know and eliminate in the future design. Neuromarketing can be further explained by focusing on the following aspects: Understanding Your Customers  Neuromarketing just like neuroscience is usually focused on understanding the behavior of human beings. As a marketer, it is important to understand the behavior the potential customers in your target market. This is the best way of increasing your engagement levels with them which can help you influence their buying behavior. This is always the dream of every marketer. If you fully understand the buyer’s behavior, you will have an easy time in advertising campaigns, branding and your product designs as they all depend on it. Buying is More Emotional than Rational Reports given by neuromarketing researchers show that customers are controlled by emotional aspects when buying a product. These scientists are still digging deeper to understand how the emotional state of customers is important to the buying process. In most cases, when we make decisions, we are always tempted to believe that they were logical, balanced and well-considered but it is not the case. They are always emotionally driven. Studies conducted recently have shown that the emotional state is a customer is particularly crucial in following cases: 1. When purchasing products with primary biological or social need like safety, food or financial security 2. The customer is under stress when making the decision Understanding Customer Anthropology Customer anthropology is the study of customers in their buying environment or their natural habitat. To understand it fully, it is important to first ask yourself the following questions: 1. How do customers make their buying decisions? 2. Why do they decide to choose one product over another similar product? 3. How do they currently interact with products you are offering? Beyond these simple questions, there are more searching questions which really reveal the emotional drives which lead to making of the purchase decision according to neuromarketing experts. Examples are? 1. What aspects of the product arouse the interest of the customer? 2. How does a certain product or service blend well with customer’s unique world view, values, goals and aspirations? 3. How can you design a product in the best way to fit customer’s needs, wants and desires? 4. How can you input more input more influence on the customer’s behavior? These are the kind of questions more successful companies in the world deal with so as to increase their influence on customer’s behavior and are the same questions which neuromarketing researchers focus on on their studies.