Consumers' behavior towards a product and service has been influenced by different aspects and various ways of marketing and advertising in the modern world. The existence of neuromarketing techniques brought together consumer behavior and neuroscience, and these gained rapid credibility and adoption in marketing fields. Traditional approaches assess and forecast the success of such investments; however, they have typically failed because they rely on consumers' willingness and capacity to explain how they feel when exposed to advertising. Neuromarketing provides cutting-edge technologies for directly investigating the brain without demanding cognitive or conscious input. This study analyzes the promise of the developing discipline of neuromarketing and says that it has the ability to dramatically increase the efficacy of both commercial and cause-related advertising messages throughout the world (Morin, 2011). This project is aimed at disclosing how neuromarketing will and have been impactful to the behavior of consumer’s psychology in digitally connected networks. This project seeks to uncover how neuromarketing will and has influenced the psychology of consumers in digitally connected networks toward the products they intend to purchase.
History of Neuromarketing
The merger of two subject areas is implied by the combination of “neuro” and “marketing” (neuroscience and marketing). The concept of “neuromarketing” cannot be traced to a specific person because it first appeared in 2002, sort of on its own. During this time, a few US companies—including Bright house and Sales Brain—became the first to promote the use of technology and information from the field of cognitive neuroscience through neuromarketing research and consulting services. Fundamentally, neuromarketing is to marketing what neuropsychology is to psychology. Although neuropsychology investigates the connection between the brain and mental processes in humans, neuromarketing advocates for the benefits of viewing customer behavior from a neurological standpoint.
As the primary definitions of neuromarketing were identified, it was portrayed as a business tool and an instrument for scientific knowledge acquisition, as well as a discipline of neuroscience or, more precisely, a sub-area of neuroeconomics. It is still challenging to define what belongs and does not belong in the realm of neuromarketing research. There is apparent overlap with some marketing areas of interest, such as research categorized by the authors as belonging to neuroeconomics, neuro-finance, or social neuroscience. Neuromarketing was defined as a type of marketing study in which conscious and subconscious components of participants' brains and physiological reactions are studied in order to address marketing difficulties. Neuromarketing has been identified as an important tool for clarifying and understanding consumer behavior, with great potential in the area of communication as well as the ability to identify consumers' subconscious needs and thus create more appealing packaging, better pricing decisions, and more efficient brand positioning strategies.
This article aims to highlight the impacts of neuromarketing on consumers' psychology in digitally connected networks and provides the meaning of neuromarketing, techniques used in neuromarketing, and examples.
Consumer’s psychology: Psychologists examine the decision-making capacities, processes, and motivations of consumers towards buying a certain product. According to (Solomon, 2004:) Consumer psychology refers to the examination of individuals, groups, or organizations and the methods they use to choose, buy, use, and reject products, experiences, ideas, or other needs-satisfying items, as well as the (Kumar, M. S., et al., (2021)). effects such methods have on consumers and society.When conducting market research, it is critical to consider consumer psychology because businesses must understand their consumers in order to develop products and marketing campaigns that appeal to their target audience. Consumer psychologists frequently spend a great deal of time learning more about what makes shoppers tick. This frequently entails first determining the target demographic for a certain product, including the gender, age, and socioeconomic position of the average customer.
Figure 1. Source: Secondary data (consumer’s behavior)