The Contributions of Neuromarketing in Marketing Research: Introduction

The Contributions of Neuromarketing in Marketing Research: IntroductionDespite centuries of continuous research on human nature, we still seem to understand so little about ourselves. People have always believed that there is more to the human spirit than flesh and blood. Scientists and researchers hold more questions than answers regarding the functioning of the human mind and have struggled to access the processes that occur in the mind in order to decode the outcome of what we see or hear. The science that inspects these facets of the human mind at a biological and theoretical point is neurology. Neurology and marketing have recently come together in a wide range of studies and have provoked an interest, as well as a desire for knowledge, leading to the birth of “neuromarketing”.
Recent years have seen considerable progress in neuroimaging, especially functional magnetic resonance imaging (fMRI). Researchers and neuroscientists are starting to comprehensively examine the frequency, location, and timing of neuronal activity to an extraordinary degree to help marketers better understand customers and reduce the millions of dollars spent on conventional marketing tools that show limited results and cannot explain some hidden patterns in human behavior. Payday Loans Online

Marketing science is still mostly unaware of the colossal potential concerning such advancement and has not yet adopted neuroimaging as a standard technique for prospective marketing research as a way to predict consumer behavior. Marketing scientists have been too slow to weigh the tremendous advantages of imaging methodologies despite its significant benefits in reflective decision making. The exploitation of neuroimaging in market research, or what has come to be called neuromarketing, has recently elicited significant controversy among neuroscience circles, especially when it comes to ethical issues and privacy. The purpose of fMRI and other neuroimaging technologies for neuroimaging is mainly to explore the underpinnings of emotions and social interactions that drive people to make specific choices.
During the last decade, innovation in neuroimaging techniques have shown considerable advances and was successful to spread its usability in different branches. But social sciences and especially marketing are still lagging behind because of many reasons that this article will try to answer. The present review strives to give an academic perspective on the emerging field of neuromarketing and provide a detailed description of the technologies used in this promising science, especially fMRI, which is currently the most employed functional brain imaging technique in marketing. Subsequently, we intend to discuss not only the challenges and limitations of these technologies but also the ways in which these new experimental techniques will allow us to gain a better understanding of consumer behavior. These challenges and limitations are aimed to highlight the restrictions that neuroimaging technologies face in order to gain success in marketing research. Our main purpose is to draw attention to neuromarketing, as well as to increase our knowledge in its fundamental implications with marketing and management.