Neuromarketing Perspective of Consumer Choice

Abstract

Behavioural research attempts to study how individuals make decisions and interact and influence other individuals, organizations, markets and society. In this regard, applied neuroscience in human decision-making has gained an increasing attention in recent decades with emergence of two disciplines; namely neuroeconomics and neuromarketing. Indeed, neuroeconomics has emerged as a multidisciplinary research area that integrates knowledge from neuroscience, psychology, and economics to better understand economic decision making and to specify more accurate models of choice and decision. In particular, neuroeconomics is becoming an attractive area of study and research in financial decision making with particular emphasis on understanding investor sentiment and fear when faced to different investment opportunities characterized by various scenarios. In particular, it aims to understand and explain consumer decision process and influence of marketing key factors on consumer choice. As a result, companies may define appropriate marketing strategies based on neuromarketing studies.

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