Neuromarketing in Action-Towards a New Model of Persuasion

Francis Crick once said, "There is no scientific study more vital to man than the study of his own brain. Our entire view of the universe depends on it." Neuroscience focuses on the most fascinating object in the universe i.e. the brain and its impact on behaviour and cognitive functions. Neuromarketing is the branch of neuroscience that applies the principles of neuroscience to study consumer behaviour. It is the formal study of the brain's responses to advertising and branding with the help of technologies such as functional Magnetic Resonance Imaging (fMRI), electroencephalography (EEG), biometrics, facial coding, eye tracking and other technologies to measure changes in activity in parts of the brain. Neuromarketing is the new field of enquiry which is introduced to study how the human brain experiences, interprets, decides and acts in response to advertising. This research paper will study and analyze the concepts, scope and methods of neuromarketing on the basis of secondary data. It will how the shift has taken place from traditional marketing practices and developed new marketing avenues. This paper will also highlight the challenges in the implementation of neuromarketing and suggest ways to overcome.