Book Title: Innovations in Management: Emerging Trends and Practices
Editor: Dr. Dattatraya Pandurang Rane
ISBN: 978-81-987266-7-4
Chapter: 7
DOI: https://doi.org/10.59646/imC7/358
Author: Dr. Amol Ranadive, Associate Professor, Balaji Institute of Management and Human Resource Development, Sri Balaji University,Pune, Maharashtra, India
Abstract
Neuromarketing is an interdisciplinary field that studies consumer decision-making by bringing together marketing, psychology, and neuroscience. The goal of neuromarketing is to help businesses better understand their customers’ wants, needs, emotions, and buying habits by tapping into these hidden mental processes. Biometric technology, electroencephalography (EEG), and functional magnetic resonance imaging (fMRI) are some of the tools used to do this. This chapter provides an in-depth look at the science behind neuromarketing and explains how it might enhance marketing strategies by uncovering the true elements that drive consumer actions. This chapter takes a look at the many ways that brain response decoding works, how it’s being utilized in advertising, branding, and product design, and what the ethical considerations and practical challenges are in this emerging field. More targeted and emotionally engaging advertisements will be possible if marketers can learn how consumers’ brains work. This chapter aims to provide a comprehensive understanding of how neuromarketing is shaping the future of consumer insights and empowering organizations to make data-driven decisions grounded in brain research.
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