The added value of neuromarketing tools in the area of marketing research

Abstract

The knowledge about the brain and therefore the interest in the topic of neuromarketing has increased in recent years. Therefore the purpose of this paper is to examine the added value of neuromarketing tools in the area of marketing research. There is no literature which includes all the aspects of marketing research and the added value of neuromarketing tools to these aspects. In regard to the topic of neuromarketing this study will be done on the basis of a critical literature review. The inability of people to describe their feelings as a method of self-assessment is one of the most important reasons why neuromarketing could be useful. Another reason mentioned is that the brains of people also contain hidden information about their true preferences. Such information can be used to influence their buying behaviour. After a brief explanation of the neuromarketing techniques like the outside reflexes, input-/output models and the inside reflexes, this paper examines the added value of these neuromarketing tools in the area of marketing research. The results indicate a positive contribution of neuromarketing tools to the aspects of identifying the customers’ needs and wants and to all four aspects of the integrated marketing program: product, price, distribution and promotion. Therefore it may be concluded that neuromarketing adds a lot of value to the marketing research area.

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