Neuromarketing and Improved Understanding of Consumer Behaviour through Brain-Based Neuro Activity

Abstract

Over the past three decades, there has been a growing interest in studying consumer behaviour directly through non-traditional, brain-based, approach using the basic knowledge of human neuroscience. This multidisciplinary approach has evolved into a new marketing branch, known as Neuromarketing, which goes inside the human brain to improve our knowledge of consumer behaviour. Neuromarketing traces neural circuit activities inside the brain using Magnetic Resonance Imaging (MRI) technology. This paper explores the existing literature on Neuromarketing to provide insights into the potential for improving our understanding of consumer behaviour. The paper concludes that Neuromarketing can offer a valuable opportunity to increase precision and validity of measuring consumer reactions to marketing activities, thus improve marketing knowledge of consumer choice behaviour. The paper also addresses the main ethical issues raised by critiques on the unprecedented access to consumers’ mind, and how advocates looked at such criticisms.