Neuromarketing: An Indispensable Competitive Weapon of Marketing

Abstract

Marketing is always on a lookout to open new frontiers so that consumer decision making could be made easier and favourable. Neuromarketing as an emerging application field collaborates neurosciences with marketing & helps discern the complicated decision making process by scientifically studying the nervous system & cognitive mechanisms of humans. Either deliberate or intuitive, the decision making is neurotic in character. Neuromarketing acts as an instrument for enhancing advertising effectiveness and creating brand perceptions. This conceptual paper employs exploratory research design to unfold the realms of neuromarketing. The objective of the paper is to find how neuromarketing acts as an indispensable competitive weapon of marketing by enhancing advertising effectiveness & via creation of favourable brand perceptions.  Systemic search data mining is used to derive relevant literature from various secondary data repositories. The qualitative research technique applied in the paper is conceptual framework analysis and the inferences so drawn are inductive in character. The findings of the paper signify the manner in which neuromarketing has emerged as a competitive tool that will resonate with consumer minds & bring them closer to positive purchase decision via brand imagery and brand preference. The paper is futuristic in nature and has implications for marketing strategists, consumers, image makers, policy formulators and advertising firms who can use neuromarketing as a vital tool for decoding consumers’ complicated neuronal outcomes.