What is neuromarketing and its selling strategy?
After going through what is neuromarketing and its selling strategy query one must be confused for the answer as to how term neuro which is related to the nervous system combined with marketing.
Neuromarketing is a study related to neuroscience that is used by the commercial companies for accomplishing market research for generating customer reaction. Before getting deep into the terminology one must be clear with what is neuroscience?
Neuroscience is a study of the nervous system that signifies the behavior of a human being. It simply focuses on the thinking of humans, as per the aspects and situations he faces. Using that study, the companies started using neuroscience with a combination of marketing to form an amazing selling strategy which is called neuromarketing.
NEUROSCIENCE + MARKETING = NEUROMARKETING
What is neuromarketing and its selling strategy? As per the above statement which clarifies that what is neuroscience and its combination with marketing, the next thing that stuck in our mind that how this combination actually works for the business world.
This technique is not used by every business but may be used by some of the well-established business empires that wanted to build large customers as their goods or service users. One of the other reasons for not using neuromarketing by every company is that it is very expensive and not compatible with every organization.
The neuromarketing is performed by the business organizations to get an insight into the customer likes and acceptance for a particular product. The technique is based on the recollecting data from the subconscious mind of customers and describes the behavior of the customer after he gets the product. And this insight would be very helpful for the company for getting valid information for performing marketing activities.
Neuromarketing gives an idea to the seller about customer reactions related to products or services that would engage the marketer to launch a better campaign and selling strategy. That would ultimately reduce the risk of failure after creating a marketing campaign.
Example of neuroscience- selling strategy
Let us take an example of an eatable item such as a pack of chips with two different brand names. Let the 1st brand be X and 2nd be Y. In this study we have to ascertain the likes of the customer related to x or y. We will give him both the packs for a while and then using the mode of technology for testing his reactions related to both the chips.
The technology will record the reaction of the individual related to which pack of a particular brand he likes or which pack he doesn't like without his sayings but because of neuroscience. It will be justified if he likes brand X then what is the source of attraction for this brand and what is the limitation of another pack.
The reactions will cover all the factors such as the color of the pack, packaging material, size, taste, price, and fragrance. It will collect all the data that would be very helpful to understand the customer behavior and record his response that may be positive or negative but will be valid from the seller's point of view for working on the limitations that a particular product carries and make suitable changes.
The illustration of what is neuroscience signifies the selling strategy of neuromarketing is very useful for the newly established companies that are about to launch a new product but are not aware of the reactions of the customer that it wants to target. Now, getting clarity related to the type of technology used for neuromarketing is also very important.
Neuromarketing and the working of technology for business
After resolving the question about what is neuroscience, now its time for getting a view on the technology used by the companies for the accomplishment of this selling strategy. The system behind this working is neuro scanners or the brain scanning tools that record the reaction of the customers for getting valuable insights for successful organizational workings.
EEG (electroencephalogram)- It is a type of tool used to monitor brain activity such as brain imaginations and activities that involves human emotions with the help of sensors placed on the head.
FMRI (functional magnetic resonance imaging)- It uses magnetic waves to undermine the brain activities that carry emotions for tracking the views of customers for certain goods. The customer is provided with a certain product and a study is done on which factors of the product is alluring customer whether it is color, packaging or material, etc.
These are technical approaches but there are many simple approaches to record customer behavior related to specific products which include movement of the eye, face coding, implicit response, etc. All these selling strategies are helpful at capturing customer interest and develop a product as per their want also perform appropriate marketing skills.
What is neuromarketing and its selling strategies may perceive differently by different people and their strategies are performed by the companies to their best.
Have you ever think why the big companies or businesses never change the color of their package or the type of theme.
One of the best examples of companies that are very strict towards their non-dynamic theme is coca-cola, Parle G biscuits, Nirma detergents, etc. These companies never change their packaging theme or do a little variation in their theme all because of neuromarketing that creates a perception in the mind of the customer towards the brand name.
Just like Dettol which was established in 1876 never changed its color which is green. All because their focus green color is perceived in the mind of the customer as Dettol.
Take away
With the combination of neuroscience and marketing, neuromarketing is formed. Then we talked about what is neuroscience, After getting the right knowledge about what is neuromarketing and its selling strategies, we are aware of its use by the business organizations. The companies use these technologies such as EEG, FMRI, eye movement, face coding, implicit response, etc to get an insight into customer behavior and develop the right product as per the need of customers.
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