Neuromarketing is a new marketing tool used to measure consumer's brain waves, eye-tracking, and skin responsiveness to determine what a consumer is thinking. In addition to understanding external consumption behaviors, marketing is evolving to include study effects on individuals' sub-conscience. Many scientists are persuaded this new technology will change the way organizations conduct marketing research in the future.
After purchasing the machine for over "$5 million," one might first ask if neuromarketing can accurately understand "consumer's propensity to purchase?" Accurate tests on brain waves might be beneficial to some, but neuromarketing fails to address cultural differences among individuals. A person's background, financial status, and environmental upbringing are never included in this research tool. Another question one must consider is if neuromarketing will be seen as a manipulative instrument used to control consumer's purchasing power. If organizations can accurately understand your psyche and persuade television ads without you knowing, couldn't that be considered brainwashing and even obtrusive? I thought this was a free market, where consumers had a choice in what they buy.
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ReplyDeleteI agree with your opinion that tradititonal marketing is still very important. Although neuromarketing will enable marketers to measure some consumer preference through physiological data, it does not tell how consumers behave. It is like polygraph test because physiological test may tell truth, but we can’t rely on its result since there is no evidence.
ReplyDeleteThere is often discrepancy between behavior and value/belief. Even though neuromarketing measures some consumers’ preference, a lot of external environment factors affect consumers’ behaviors. Since neuromarketing does not take into account any external factors such as cultural difference and economic condition, it is very hard to tell how effectiveness of neuromarketing.
Consumers’ behavior depends on how they solve their cognitive dissonance. According to an article, they solve their dissonance in three ways:
1. Change their behavior
2. Justify their behavior by changing the conflicting cognition
3. Justify their behavior by adding new cognition
As we can see, it is very difficult to predict consumers’ behavior because their behaviors always change in different situation. I believe that neuromarketing works. However, marketer must conduct traditional marketing to pay close attention to consumers.
Source:
http://changingminds.org/explanations/theories/cognitive_dissonance.htm
Great Post Tovah. The free market IS being threatened in one sense when it comes to the invasion of a consumer's subconscious. Free will means you are in control or your own destiny without unknown forces influencing you behavior. However I believe that many large companies utilize neuromarkeing techniques to hedge their bets when they launch new marketing campaigns or new products. Simply using focus groups and surveys to predict consumer behavior has become too risky for these large businesses especially considering the large investments they make. Neuromarketing makes the process of market research even more scientific and precise in its effectiveness.
ReplyDeleteGreat point that Neuromarketing failing to address factors such as prosperity, cultural differences, and morals/values. I also agree that the end-user should be the ones making there decision to buy in a free market place.
ReplyDeleteNevertheless, the potential for Neuromarketing is great. Companies can expedite their respective marketing approach for new ad campaigns and new products/services. The use of neuromarketing can provide businesses with a tool that can achieve new data that old marketing processes could never attain.
Not taking advantages of the new technology is going to be the difference between a company who is going to be successful and a company who is going Bankruptcy.
ReplyDeleteWe all agree that the goal of any business is to be profitable. Sometime reaching that goal requires manipulating people. And if you think they are not doing this, I’m sorry to say that but you have been manipulated as well!! But you are not alone.
Media is already brainwashing people, and it’s not something recent. It’s something that exists since the known history of mankind. Socrates talked about it in his masterpiece Allegory of the Cave. (http://www.associatedcontent.com/article/22696/platos_allegory_of_the_cave_analysis.html)
They are just developing a new technology to something that has been already there and finding a better way to manipulate people and control them.
Is it wrong? Is it unethical? Well, that a different story. And to most companies it doesn’t even matter as long as it’s profitable.
I don't think that neuromarketing will have a huge impact on the company's success. As You mentioned Tovs, it fails to address cultural differences, various backgrounds and personalities. Moreover, it is conducted on rather small groups which don't really represent the whole. Because everyone is different and there is no common formula to apply, I don't consider neurmarketing an important tool from the company perspective.
ReplyDeleteWhile there are traditional marketing tools that have been effective in the past, none of those have the potential that neuromarketing does. I disagree with p. lakomski because companies already know their target audience and most frequent buyers. It does not take an exorbitant amount of individuals to gage the interest companies seek in customers because of the accuracy neuromarketing provides. As the technology further develops and becomes cheaper, consumer products companies will likely find that neuromarketing is a necessary strategic tool.
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