Fundamentals of neuromarketing: What is it all about?

Abstract

Neuromarketing has become a central marketing issue in the new global economy. The term neuromarketing is a combination of neuroscience and marketing. This new concept provides new insights and powerful techniques in marketing research, especially on consumer analysis. The central concept of neuromarketing is strongly related to brain activities, understanding the consumers' subconscious mind, explaining consumers' preferences, motivations, and expectations, and predicting consumers' behavior. Neuromarketing is not to replace traditional marketing methods, but rather to provide unique and complementary insights. This paper focuses on the growing field of neuromarketing and aims to explain the fundamental concepts of neuromarketing to ensure that its unexplored practical usefulness can positively contribute to the field of marketing. Therefore, this review will help researchers to develop effective approaches further, to provide better and more efficient services to consumers through the use of scientific methods to understand how consumers respond to marketing campaigns.