Neuromarketing scientist Ale Smidts introduced the term ‘neuromarketing’ in the Netherlands, in the year 2002. He explained how EEG and fMRI methods of research could help to predict and interpret consumer behaviour. He also explained how these methods could collect insights into how consumers process commercials and how impactful commercials may be.
Neuromarketing essentially means applying neuroscience methods of research to collect data and insights about a variety of marketing questions. For example, EEG and fMRI methods are utilised to analyse advertising and marketing campaigns.
The quality of a society depends largely on the quality of its governing bodies. More effective the governments and the ministries, the higher the quality of life of its residents. As such, there is an increasing focus on innovations and programs to devise creativity and changes in governing bodies, with the aim of improving the quality of their public service and duties.
However, in the process of moulding civil servants into more efficient risk takers and creative inventors, there are several challenges associated with applying behavioural economies.
Neuromarketing research is based on deep-diving into a consumer’s brain and producing insights that can be converted into immediate action points. Many successful brands have found success with this branch of research and can be applied in different settings.
Is Neuromarketing usability research suitable for every brand?
Neuromarketing research need not be applied by every brand, despite the benefits over traditional marketing research processes. There are a few basic requirements to evaluate usability, the foremost of which is – there should be an exact research question. For example, do you want to know if your brand or company website connects with your consumer or is it confusing?
While you try to answer the above question, you may discover that a traditional research method may actually be more suited for you.
While covid-19 brought the world to a standstill, post-covid times changed market landscapes and forced businesses to revisit their business strategies. While some have had to struggle just to stay afloat, some others have had to tweak and adjust their offerings to realign with the new normal.
Are the changes permanent? We can’t know that yet; suffice it to say that businesses have to tap into the changing market opportunities and adapt if they don’t want to be left behind in the current noisy environment.
To an industry insider, marketing tactics may seem manipulative as they are designed with the specific aim of making consumers feel the want for a product and nudging them to buy it. Behavioural economics and neurosciences aid in this very process by helping to understand consumers more and decode their purchase decisions.
While on the outside, it may seem like the public sector would make better use of behavioural science for research methods, the truth is quite the opposite. Private or corporate sectors are more diligent about understanding their consumers better and giving them better experiences in order to avoid alienating them.