Neuromarketing as a tool of marketing research and implementation of consumer relationship strategy

Abstract

Neuromarketing is a discipline that connects the study of consumer behavior with neuroscience by examining the impact of marketing on consumers, by observing and interpreting their emotional reactions to various marketing stimuli. By using methods such as functional magnetic resonance imaging (fMRI), electroencephalography (EEG), eye tracking (ET), galvanic skin response (GSR) and facial coding (FC), neuromarketing can help companies understand how consumers make decisions and what they really feel, think and want on an UN-conscious level, which later becomes a more reliable indicator of their behavior when buying products and services. Apart from being a marketing research tool, neuromarketing can also be seen as a strategy for improving companies' communication and relationships with consumers. The purpose of this paper is to understand the importance of neuromarketing for understanding the subconscious processes in the consumer's brain, and for noticing the impact of these processes on consumer behavior. This will ultimately contribute to better strategic positioning of companies and their products on the market.