A study of neuromarketing techniques for proposing cost effective information driven framework for decision making

Abstract

Neuromarketing has brought a revolution in the field of marketing. The adoption of Neuromarketing has resulted in better understanding of consumer behaviour. The thrust for increasing business and branding through brains has a great impact to marketing. Neuromarketing, being an interdisciplinary research area has emerged as a solution for achieving better understanding of consumer behaviour. For sustainable future and increased business, neuromarketing techniques need sincere attention. Although it is an active research area and there are many solutions for achieving efficiency, existing approaches ignore the integrated framework for understanding neurometric data. The real challenge is to maintain a satisfactory performance level without raising costs. The current study provides a wide-ranging study of literature. The literature highlights that there is very less research being carried out using an integrated framework. An optimal framework that simultaneously handles performance and maintains low cost is required as foremost thing for advertisers. In the present research work, efforts will be made to propose towards cost efficient framework for understanding advertisers’ perspective.