Advances in neuroscience and marketing: analyzing tool possibilities and research opportunities

Abstract

PurposeThis study aims to illuminate the contribution of neurophysiological techniques in the field of marketing and consumer decision-making and to highlight avenues and research questions that marketing researchers can take advantage of from neuroscience and psychology to inform marketing phenomena.MethodologyThe authors first reviewed the roots and definition of consumer neuroscience. Then, the authors outlined the main characteristics of the most commonly used neurophysiological tools (namely, skin conductance, facial electromyography, electrocardiogram, eye-tracking, electroencephalography, functional magnetic resonance imaging, functional near-infrared spectroscopy, magnetoencephalography and transcranial magnetic stimulation) with a special emphasis on their advantages and weaknesses. Finally, the authors propose the development of research lines that could be implemented by marketing researchers with an appropriate application and understanding of tools and theories of neuroscience and psychology.FindingsThe authors propose research questions to be addressed within four thematic areas: opportunities in product decisions (predicting product purchasing decisions, consumer responses to branding efforts and packaging), pricing, communication and retailing scenarios. The authors also incorporate insights into the complementarity of neurophysiological tools to traditional ones and situations in which these tools are useful for enhancing marketing theory. The authors finally shed light on the moral–ethical criticisms of this new branch of marketing.ValueTo the best of the authors’ knowledge, this research constitutes the first study in identifying the research opportunities that marketing researchers could take advantage from neuroimaging and physiological tools to inform marketing theory and practice.