Neuromarketing

Power and limits in the knowledge of the market

Authors

DOI:

https://doi.org/10.33571/teuken.v13n20a9

Keywords:

neuromarketing, marketing, purchase decision, market research, consumer

Abstract

Neuromarketing uses neuroscience to reveal subconscious consumer decision-making processes. Like neurology, neuromarketing studies brain and biometric responses, as well as behavior, to understand how consumers feel, think, and act. This work aimed to use various bibliographical sources to better understand the concept of neuromarketing and assess its implementation advantages. The paper shows that neuromarketing is advantageous because it does not rely on consumers to report emotions. It can accurately tie physiological reactions to a specific part of an ad or message. However, it is crucial to keep in mind that there are limitations, such as the high cost of applying neuromarketing. Also, since brain science is still evolving, there is yet to be a reliable way to connect marketing stimuli to the emotions triggered.

Author Biography

Gloria Leticia López Salazar, Universidad de Guanajuato

Doctora en Dirección y Mercadotecnia de la Universidad Popular del Estado de Puebla, Maestra en Administración de Negocios de Instituto Tecnológico y de Estudios Superiores de Occidente y Licenciada en Contaduría Pública. Actualmente es Profesora Investigadora en el Departamento de Finanzas y Administración de la Universidad de Guanajuato.

References

Alonso, M. (2015). Neuromarketing: la revolución de las emociones. I&M, 129, 24-26. http://www.clustercomunicacion.gal/download/marketing/Neuromarketing_a_revolucion_das_emocions.pdf

American Marketing Association [AMA]. (2019, 02 de enero). Definition of Marketing. https://www.ama.org/the-definition-of-marketing2/

Ariely, D., & Berns, G. S. (2010). Neuromarketing: The hope and hype of neuroimaging in business. Nature Reviews Neuroscience, 11(4), 284-292. https://doi.org/10.1038/nrn2795

Baraybar-Fernández, A., Baños-González, M., Barquero-Pérez, O., Goya-Esteban, R. y de la Morena-Gómez, A. (2017). Evaluación de las respuestas emocionales a la publicidad televisiva desde el neuromarketing. Revista Científica de Educomunicación, Comunicar, (XXV)52, 19-28. https://doi.org/10.3916/C52-2017-02

Blanco, G. (2016). Neuromarketing Vs. marketing tradicional. Entrepreneur. https://www.entrepreneur.com/article/278652

Braidot, N. (2005). Neuromarketing. Neuroeconomía y Negocios (2.ª ed.). Puerto Norte-Sur.

Borch, F. J. (1957). The marketing philosophy as a way of business life. The marketing concept: Its meaning to management, 3-16.

Caldeira, J. & Giraldi, J. (2017). What is Neuromarketing? A Proposal for a Broader and more Accurate Definition. Global Business and Management research: An International Journal, (9)2, 19-29. http://www.gbmrjournal.com/pdf/vol.%209%20no.%202/V9N2-2.pdf

Calvert, G. (2018). Brands on the Brain. How Neuroscience is Revealing the True Mind and Motivations of the Consumer. Innovation. The Singapore magazine of research, technology and education. http://www.innovationmagazine.com/volumes/v12n1/coverstory2.html

Dos Santos, R. D. O. J., de Oliveira, J. H. C., Rocha, J. B., & Giraldi, J. D. M. E. (2015). Eye tracking in neuromarketing: a research agenda for marketing studies. International journal of psychological studies, 7(1), 32-42. 10.5539/ijps.v7n1p32

Flores, J., Baruca, A. & Saldivar, R. (2014). Is Neuromarketing Ethical? Consumers say Yes. Consumers say No. Journal of Legal, Ethical and Regulatory Issues, (17)2, 77-91. https://digitalcommons.sacredheart.edu/wcob_fac/379/

Garcia, J. & Saad, G. (2008). Evolutionary neuromarketing: Darwinizing the neuroimaging paradigm for consumer behavior. Journal of Consumer Behaviour: An International Research Review, 7(4‐5), 397-414. https://doi.org/10.1002/cb.259

Georges, P., Bayle-Tourtoulou, A-S. & Badoc, M. (2013). Neuromarketing in Action: How to Talk and Sell to the Brain (1.ª ed.). Kogan Page Publishers.

Grajdieru, E. (2017). Neuromarketing and its internal marketing Applications. Bulletin of the Transilvania University of Braşov. Special Issue Series V: Economic Sciences, (10)2, 17-24. http://webbut2.unitbv.ro/Bulletin/Series%20V/2017/BULETIN%20I%20SI/03_GRAJDIERU.pdf

Hubert, M. & Kenning, P. (2008). A current overview of consumer neuroscience. Journal of Consumer Behaviour. 7(4-5), 272-292. https://doi.org/10.1002/cb.251

Hurley, R., Ouzts, A., Fischer, J. & Gomes, T. (2013). Effects of private and public label packaging on consumer purchase patterns. Packaging Technology and Science, (26)7, 399-412. https://doi.org/10.1002/pts.2012

Kahneman, D. (2011). Thinking, fast and slow (1.ª ed.). Farrar, Straus and Giroux.

Kenning, P. (2008). What advertisers can do an cannot do with neuroscience. International Journal of Advertising, (27)3, 474-473. 10.2501/S0265048708080086A

Kerin, R., Hartley, S. & Rudelius, W. (2014). Marketing (11.ª ed.). McGraw-Hill.

Kerin, R. & Peterson, R. (2007). Strategic marketing problems. Cases and comments (11.ª ed.). Pearson/Prentice Hall

Kumar, H. & Singh, P. (2015). Neuromarketing: An emerging tool of market research. International Journal of Engineering and Management Research, 5(6), 530-535. https://goo.gl/oYH0tU

Khushaba, R., Wise, C., Kodagoda, S., Louviere, J., Kahn, B. & Townsend, C. (2013). Consumer neuroscience: Assessing the brain response to marketing stimuli using electroencephalogram (EEG) and eye tracking. Expert systems with applications, 40(9), 3803-3812. https://doi.org/10.1016/j.eswa.2012.12.095

Lindstrom, M. (2008). Buyology. Truth and Lies About Why We Buy (1.ª ed.). Random House Business Books.

Martínez, P. (2011). The consumer mind. Brand perception and the implication for marketers (1.ª ed.). Kogan Page Publishers.

Matukin, M., Ohme, R. & Boshoff, C. (2016). Toward a Better Understanding of Advertising Stimuli Processing Exploring the Link between Consumers’ Eye Fixation and Their Subconscious Responses. Journal of Advertising Research, (56)2, 205-216. 10.2501/JAR-2016-017

McClure, S., Li, J., Tomlin, D., Cyper, K., Montague, L. & Montague, P. (2004). Neural correlates of behavioral preference for culturally familiar drinks. Neuron 44(2), 379-387. 10.1016/j.neuron.2004.09.019

Melgar, J. (2016, 5 de agosto). 5 marcas que ya aprovechan el neuromarketing en Latinoamérica. Neuromarketing.la. https://neuromarketing.la/2016/08/5-marcas-aprovechan-neuromarketing-latinoamerica/7

Monge, S. y Fernández, V. (2011). Neuromarketing: Tecnologías, Mercado y Retos. Pensar La Publicidad. Revista Internacional de Investigaciones Publicitarias. (5)2, 19-42. http://dx.doi.org/10.5209/rev_PEPU.2011.v5.n2.37862

Page, G. (2012). Scientific realism: what ‘neuromarketing’ can and can’t tell us about consumers. International Journal of Market Research, (54)2, 287-290. https://doi.org/10.2501/IJMR-54-2-287-290

Perrault, W., Cannon, J. & Mccarthy, J. (2008). Basic Marketing. A Marketing strategy planning approach (16.ª ed.). McGraw-Hill/Irwin.

Randall, K. (2009, September 15). Neuromarketing hope and hype: 5 brands conducting brain research. Fast Company. https://www.fastcompany.com/1357239/neuromarketing-hope-and-hype-5-brands-conducting-brain-research

Reimann, M., Schilke, O., Neuhaus, C., Weber, B. & Zaichkowsky, J. (2011). Functional magnetic resonance imaging in consumer research: A review and application. Psychology & Marketing, (28)6, 608-637. https://doi.org/10.1002/mar.20403

Robison, J. (2006, January 12). Is That a Neuromarketer in Your Brain? Gallup Business Journal. https://news.gallup.com/businessjournal/20785/neuromarketer-your-brain.aspx

Salazar, C. (2011). La Neurociencia del consumidor Como horizonte de Investigación, conceptos y aplicaciones. Un Enfoque Paradigmático. Revista Universidad y Empresa, (13)21, 143-166. https://revistas.urosario.edu.co/index.php/empresa/article/view/1906

Solomon, M. (2013). Comportamiento del consumidor (10.ª ed.). Pearson.

Stipp, H. (2015). The Evolution of Neuromarketing Research: from novelty to Mainstream. Journal of advertising research, 55(2), 120-122. 10.2501/JAR-55-2-120-122

Valenzuela, L., García, J. y Blasco, M. (2006). Evolución del marketing hacia la gestión orientada al valor del cliente: revisión y análisis. Theoria. Ciencia, arte y Humanidades, 15(2), 99-105. http://www.ubiobio.cl/theoria/

Wedel, M. & Pieters, R. (2008). Visual marketing. From attention to action. Psychology Press.

Zaltman, G. (1997). Rethinking market research: putting people back in. Journal of Marketing Research, (34)4, 424-437. https://doi.org/10.2307/3151962

Zurawicki, L. (2010). Neuromarketing. Exploring the Brain of the Consumer (1.ª ed.). Springer Science.

Published

2023-06-02

How to Cite

López Salazar, G. L. (2023). Neuromarketing: Power and limits in the knowledge of the market. Teuken Bidikay - Revista Latinoamericana De Investigación En Organizaciones, Ambiente Y Sociedad, 13(20), 171–186. https://doi.org/10.33571/teuken.v13n20a9

Issue

Section

Artículos