Neuromarketing

Neuromarketing is a powerful and relatively new method, which involves the study of brain activity and physical responses to determine the effectiveness of brands and advertisements to help refine marketing techniques.

While presenting individuals with images or products, researchers can monitor brain activity using magnetic resonance imaging (MRI) scans or EEG scans.  The resulting data can then be used to give a clear indication of the strength and type of emotions that are associated with a particular product.

The benefit of Neuromarketing is that it provides a very objective analysis and an insight into unconscious desires.  Many associations that people make with particular brands or products are on an unconscious level.  This means that traditional forms of market research, such as questionnaires and interviews are likely to produce inaccurate or superficial results.  Neuromarketing does not have this problem.

One of the most famous Neuromarketing studies investigated brand awareness of Coke and Pepsi.  Interestingly, the results showed that drinking Pepsi gave a slightly stronger response in the reward centers of the brand.  However, thinking of the Coke brand gave stronger memory associations.  The conclusion of the study was that although the products were extremely similar, the dominant market position of Coke was due to the strength of the brand rather than the quality of the product.

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