Consumer behaviour analysis using EEG signals for Neuromarketing Application
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Neuromarketing is applying neuropsychology in marketing research which studies consumer sensory-motor such as cognitive and affective response to marketing stimuli with the help of modern technologies. It is one of the most recent marketing research strategies and might be the future of marketing research. In our study, we demonstrated how marketing may benefit from Neuromarketing through analysing consumer behavior with the help of EEG signal. Consumer’s responses toward marketing strategies and their behavior towards purchasing or selecting products or goods can be studied and analyzed for a better producer and consumer relationship. To do so we took a sample of our population for collecting EEG signals of different ages, groups and gender for a better understanding of consumer behavior towards a marketing policy. Through analyzing the data we tried to uncover how and why they like certain marketing policies and how different part of the human brain reacts while those marketing policies are applied to them.We used some machine learning approaches where Decision Tree achieved highest accuracy of 95%. We also tested whether neuropsychological measures can capture differences in consumer’s actions in different marketing stimuli. And also if studies in this field can bring a change and improve marketing strategies for the betterment of both producer and consumer and result in the mutual benefit of both. We believe that neuropsychological measures soon will be widely acknowledged and used as a complimentary method in classical marketing research. We tried to contribute to this field by doing as much as we could with our work.