Neuromarketing: What You Need to Know

The field of neuromarketing, sometimes known as consumer neuroscience, studies the brain to predict and potentially even manipulate consumer behavior and decision making. Over the past five years several groundbreaking studies have demonstrated its potential to create value for marketers. But those interested in using its tools must still determine whether that's worth the investment and how to do it well. "Neuromarketing" loosely refers to the measurement of physiological and neural signals to gain insight into customers' motivations, preferences, and decisions. Its most common methods are brain scanning, which measures neural activity, and physiological tracking, which measures eye movement and other proxies for that activity. This article explores some of the research into those methods and discusses their benefits and drawbacks. Potential users of neuromarketing should be cautious about partnering with specialist consulting firms--experts warn that the field is plagued by vendors who oversell what neuromarketing can deliver. One neuroscience and business professor suggests using a checklist: Are actual neuroscientists involved in the study? Are any of the consultancy's methods, data, or tools published in peer-reviewed journals? Is its subject pool representative?--a question that is particularly important for global brands. Do the consultants have marketing expertise along with scientific knowledge? Do they have a track record of success? And can they prove when challenged that they will offer insights beyond what can be gleaned through traditional methods?

• Marketing
• Neuroscience
• Business ethics
• Consumer behavior