Tuesday, September 15, 2009

What is Neuromarketing?

From FastCompany - Neuromarketing Hope and Hype

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Neuromarketing is the practice of using technology to measure brain activity in consumer subjects in order to inform the development of products and communications--really to inform the brand's 4Ps. The premise is that consumer buying decisions are made in split seconds in the subconscious, emotional part of the brain and that by understanding what we like, don't like, want, fear, are bored by, etc. as indicated by our brain's reactions to brand stimuli, marketers can design products and communications to better meet "unmet" market needs, connect and drive "the buy".

It is commonly accepted that traditional market research is flawed because consumers don't know, can't articulate, or will even lie in a focus group about their purchase motivations. Neuromarketing research removes subjectivity and ambiguity by going right to measuring observable brain behavior. Respondent attention level, emotional engagement and memory storage are common metrics.