Impact of Neuromarketing on Consumer Psychology in Digitally Connected Networks

Abstract

This study aims to explore and explain the history of neuromarketing, techniques, examples, pros and cons of neuromarketing, major limitations, as well as its major findings and draw conclusions for its future development. This is a theoretical chapter. An extensive literature research was done for its goals. Additionally, to provide more clarity on the influence of neuromarketing, researchers employing neuromarketing technologies combined existing information from multiple literatures. In this study, the authors realized that the consumer's psychology has been and is still being affected by the digital world where neuromarketers manipulate consumer's choosing capacities towards a product through digital network advertising. However, it has been discovered that researchers are still working on it, to figure out a significant scientific solution to the existing problems, such as privacy and price of equipment(tools) to be used. This chapter might be useful for neuroeconomics theorists and practitioners who wish to learn more about neuromarketing technology.