Neuromarketing: Understanding Consumer Psychology Principles to Improve Marketing Strategies – Examining How Neuroscience Techniques Help Marketers Predict and Influence Buying Behaviour

Neuromarketing: Understanding Consumer Psychology Principles to Improve Marketing Strategies – Examining How Neuroscience Techniques Help Marketers Predict and Influence Buying Behaviour.

Andrea J Daphne Precilla1, Balaji Sri Harsha2, Alphar Daniel G3

1Andrea J. Daphne Precilla, MBA, School of management studies, Sathyabhama Institute of science and technology

2Balaji Sri Harsha, MBA, School of management studies, Sathyabhama Institute of science and technology

3Alphar Daniel G, MBA, School of management studies, Sathyabhama Institute of science and technology

Abstract - Neuromarketing is one of the fastest-growing research fields, combining neuroscience and marketing. This uses methods like Functional Magnetic Resonance Imaging (fMRI), Electroencephalography (EEG), and eye-tracking. These methods examine consumer behaviour and assess marketing techniques. This paper dives into how helpful it is for companies to forecast and act according to consumer decisions. The use of psychological models like Dual-Process theory and Loss Aversion and prospect theory shows how neuromarketing caters to brands with a method for developing emotionally compelling advertisements that will direct towards profits. Though neuromarketing has its merits, it raises ethical issues of consumer privacy, possible manipulation, and expensive applications that may deter small companies. Furthermore, neural data is still difficult to interpret since consumer feedback is influenced by many factors that marketers cannot control. Future improvements in artificial intelligence, machine learning, and virtual reality will fortify the neuromarketing sector, making it more efficient and accessible. This paper highlights the revolutionary aspect of neuromarketing while highlighting the need for ethical handling and ongoing research to make the application responsible and useful in the marketing sector.

Key words: Automation, Customer Engagement, Market Research, Sales Strategy