Neuromarketing: A Future Step In Market Research
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In order to market a product, service, or build a brand name successfully, there must be an accurate understanding of the consumer’s desires for efficient marketing. For this reason, companies greatly depend on the utilization of market research to help acquire consumer knowledge. Over the years, companies have become complacent using market research techniques such as conducting focus groups, telemarketing, communicating through social media, and surveying to obtain such information. Though useful techniques, they all strictly rely on verbal feedback from consumers that may or may not be credible information. This paper offers an alternative approach to market research through the field of neuromarketing, a newer, innovative branch of market research that uses the technology of neuroimaging to study the response of an individual’s brain under the presence of marketing stimulus. It additionally offers a critical view on the whole field of market research and offers suggestions to help it advance.