How often do you find yourself standing in a store thinking that you absolutely have to have a certain product? Nine times out of ten, the product we’re contemplating to buy is something we want, not something we need. Have you ever thought what actually triggers your mind to buy a product? Have you ever experienced emotional connections to a commercial that lead you to buy the product?
In many instances ,quality of a product matters but not the price. We tend to take time and take a precise decision to purchase the “better” product. Let it be as simple a product as dish soaps or shampoos ,we think thoroughly before deciding to buy it.
Do you ever find yourself in a dilemma whilst deciding to purchase a certain product over the other products? Or going into a store for milk and coming out with a long receipt and a carton of other purchases? Why is that we tend to go with the emotions attached to the things we buy? What pushes companies to crop up with offers such as “Buy one get one free”? Why do companies come up with certain specific color codes for packaging materials?
All of the above instances are perfect examples of how emotional marketing worked time and time again. Neuromarketing is the process of researching consumer brain patterns, to understand buying decisions and/or responses to specific ads. It is an ongoing trend that is the most successful form of marketing to consumers.It gives a better picture of consumer behavior and the recent trends . Conventionally, marketers and advertisers used consumer group test bases and research as a means of finding out the positive reaction and success of products.
How important is a strong brand image? A new study presented by RSNA shows that people presented with known brand images, processed them in areas of the brain associated with positive emotions.while unfamiliar brands took more effort for the brain to process and activated areas of the brains associated with negative emotions. Marketers now are constantly making efforts to improve the brand image as branding plays a vital role in today’s life.
As science and technology is processing rapidly, we are now able to accurately pinpoint what causes the emotional part of our brain to respond and decide what we do, based on the feelings we have, by using something called as Functional Magnetic Resonance Imaging (FMRI). When using an MRI to notice the blood circulation and neural activity, scientist found out by simply looking at the brains for an emotional response instead of asking people or test subjects if they liked a product.In fact it is observed that in future Neuromarketing can even replace our conventional surveys for reading customers mind.
Neuromarketing puts marketers at an extreme advantage because now they have the ability to use all of our emotional senses to get us hooked to buy the product. Typically, we think we buy a product simply for joy or pleasure. But in actuality, the biggest emotion that marketers utilize is FEAR. Fear is the most accessible and important emotion we have as a means of survival. Marketers do this by claiming that problems will be encountered if you do not buy their products. Guilt is another huge emotion that marketers play on — you may feel guilty for not being home with your kids very often, but you do the best you can by filling that void of absence with toys or electronics.
Implementation of Neuromarketing will be a block for many companies because FMRI is very expensive.There are no studies comparing to the economic value of FMRI with the traditional market assessments.Neuromarketing still in its initial stages,interpreted that increased brain activity is still subjective and needs continued study.Researchers had identified about the activity occurred in the brain;however it is unknown how to apply such information so that it is effective in the marketing Industry.
Neuromarketing being very innovative has also attracted lots of controversy.Anti-marketing advocacy groups have spoken against the practice of neuromarketing and have even tried approaching the government for completely stopping it.They claim hoe the unconscious mind works will lead to consumer manipulation and influencing ability to buy a product.
Companies need to determine whether neuromarketing will yield them a better ROI than the traditional market assessment tools.It can be a larger experiment for smaller companies to invest in this kind of market assessment. Whether designing movie teasers, campaign ads or any product advertisements ,the ability to determine consumer decision making process is very interesting.It has enlightened our understanding about our brain immediate gratification with immediate results.
It can be noticed that in the long term neuromarketing will be far more social benefited application like safety messages and persuading people to give up smoking. As neuromarketing in its initial stages it needs come up with various new strategies to attract corporate and that will be their biggest challenge