Neuromarketing Science: A Road to a Commercial Start-Up

Introduction

Neuromarketing is that area which evolves combination of ideas from neuroanatomy & traditional market analysis. It focuses on how customers are making decisions from psychological point. These new ideas give marketing research powerful new ideas and methods for analyzing consumers which may also deliver strong methods and effective research tools. The study of mind through brain is completely new concept in research and constantly improving. Mileti, Guido, and Prete (2016) explained neuromarketing a way to analyze the response of the consumer that is unconsciously evolve in making decisions as it is based on the theme of motor systems and senses both of them inferred from the brain activity and represents emotional intangible aspects of decision making by consumer. It is generally not possible to find solutions with pen or paper only as people may not always be truthful and find it difficult to answer with their feelings. Goal of this neuromarketing is far beyond focus groups and surveys as its about studying consumer. Neto, Filipe, and Ramalheiro (2011), Murphy (2005), Poldervaart (2009), Zurawicki (2010), Zaltman (2003), and Brierley (2017) stated and accepted that about ninety five percent decisions are unconsciously made by customers rather the mind which is subconscious plays a big role in decision making towards buying (I.A. & M., 2013) Luan, Yao, Zhao, and Liu's (2016) highlighted the fact on difficulty in finding/measuring the truthfulness in the mind of the consumer but researchers are keen in applying interested in using neuroscience technology in research to fill the gap to know subconscious responses from people which sometimes taken in negative way because they think that this technique might invade their privacy. The whole process of neuromarketing includes brain wave scanning with medical tools to get improvisation in marketing is considered as unethical (Babu & Vidyasagar, 2012) practices to look into the minds for leading the business only. Neuroscience for market research faced ethical questioning for this particularly in this part of an article ethical issues in neuromarketing are discussed and in later part is about careful ways that companies can try while using neuromarketing.