Exploring the impact of neuromarketing to promote product value using EEG signals

Abstract

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.The use of medical technologies to study the brain's responses to understand the decisions of the consumers is neuro-marketing. This is a relatively new but rapidly emerging field as it has the potential to predict consumer behaviors. Several tools exist that aid neuro-marketing such as EEG, FMRI, MEG etc. The use of these technologies was strictly limited to medical purposes until most recently. These technologies are now being used to study brain signals of consumers to take a deep dive into the consumer's mind and develop marketing strategies that will be most effective. 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 eld by doing as much as we could with our work.