A BETTER CONSUMER UNDERSTANDING – A NEUROMARKETING APPROACH

The consumer mind-set is complex and not easily interpreted by anyone, as it encompasses their thoughts, statements, actions, and emotions. Therefore, marketers not only aim to identify and satisfy consumer needs but also consider their feelings. The exploration of consumer emotions is termed neuromarketing, a concept introduced by Dutch marketing professor Ale Smids at Harvard University in 1990. Neuromarketing is becoming a strategic method that enables the mapping of consumer brain activities and offers insights into their sensory and motor responses to various business marketing strategies. Techniques in neuromarketing aid in examining the human brain to forecast decision-making through brainwave activities, with methodologies such as eye tracking and skin response being scientifically analysed using fMRI (functional magnetic resonance imaging). This medical technology assesses brain function by observing changes linked to blood flow. Marketing experts utilize fMRI technology to identify fluctuations in brain activity and seek to comprehend which areas of the brain are activated when consumers make purchase decisions. On-going research aims to investigate, identify, and elucidate how businesses can integrate neuromarketing as a tool for understanding consumer behaviour. This research paper will be beneficial for marketers, academics, and organizations, as neuromarketing provides a fresh perspective on marketing practices and consumer psychology.