Value based marketing: Examining the role of leadership support in promoting neuromarketing

Abstract

Abstract Neuromarketing is a branch in the field of commercial marketing communication. Neuromarketing closely relates to neuropsychology and market research for studying the cognitive thinking process of customers and their responses to the marketing stimuli. Presently no study has investigated the moderating role of firm leadership support in promoting neuromarketing applications in their firm. However, there is a huge interest among researchers and industry practitioners to understand this phenomenon and how leadership support can sponsor and invest in neuromarketing related programs in their marketing departments. Against this background, the objective of this study is to examine the role of firm leadership support in promoting neuromarketing and the consequences of it. With the help of marketing theories and literature, a theoretical model has been developed. Later, the model is validated using the CB-SEM technique using 372 responses from employees in marketing departments of various firms. The study finds that there is a significant and positive impact of neuromarketing on customer loyalty, improving business value, and marketing performance of the firms, which in turn significantly impacts the competitive advantage of the firms. The study also finds that leadership support plays an important role in promoting neuromarketing related applications in the firms.