Looking at Consumer Behavior and Decision-making From the Point of View of Neuromarketing

Abstract

Business revolves around marketing, and marketing's principal function is to disseminate the company's offerings to consumers. However, the failure of some marketing strategies can be traced back to the designers' disregard for buyers' underlying mental processes at the time of purchase. This is due to the fact that when customers spend money, their conscious mind focuses on the known object, but they have no idea why they are doing it. Since just around 10% of the brain is responsible for making decisions, most of the money marketers spend goes to waste. This paper's goals are to summarize the existing research on Neuromarketing as it relates to consumer behavior. In this work, we examine research on consumer habits that follows the guidelines of Neuromarketing. Marketers need a reliable approach to deduce consumers' true motivations before making any claims about their products. Neuromarketing is a cutting-edge technique for researching how marketing influences consumers' decisions without them even realizing it. Using neuromarketing, businesses will gain insight into their customers' habits that was previously unavailable. Consumers' actions and choices can be verified, reshaped, and enhanced through the use of neuromarketing.