RF#9-247（999）

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Neuromarketing

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• "Neuromarketing: What You Need to Know." Do you think you are likely to use neuromarketing techniques? (in Harvard Course Reader)

Fortunately, marketing has become less of an art and more of a science as time has passed. One of the most obvious examples is neuromarketing, a scientific field that integrates neuroscience to marketing in order to better understand how consumers' brains work and which parts of the brain should be triggered to attract purchase. Neuromarketing is a new field that supplements marketing research by utilizing scientific laboratories and techniques such as EEG (electroencephalography), implicit reaction tests, eye-tracking, and facial coding, to mention a few.

The most direct approach to understanding and thereby modifying a user's behavior is only achieved through neuromarketing, which is the core purpose of marketing. By concentrating on behavioral sciences, one can avoid conscious biases and identify instinctive reactions that are common to all people. The most prominent neuromarketing techniques include eye tracking, pupillometry, Functional MRI and facial coding. As the world has greatly become dependent on research and technology it is critical to note that it is not easy to avoid using one of these techniques as they help provide crucial evidence-based information that is the bedrock of marketing.

• "What's the Value of a Like?" Leslie K. John, Daniel Mochon, Oliver Emrich, Janet Schwartz (in Harvard Course Reader)

The growth of social media and technology has continued to provide an essential platform for marketing. With social media becoming popular, most people and companies strive to maintain a critical social media presence. Brands spend billions of dollars each year establishing and maintaining a social media presence. Do those campaigns, on the other hand, genuinely increase revenue? A new study offers an answer to this topic, which has perplexed marketers since the advent of social media. The researchers investigated four progressively engaging ways in which Facebook could influence customer behavior in a series of trials (John, 2021). They first looked into whether enjoying (or passively following) a brand makes individuals more likely to buy it. Second, they looked at whether people's preferences influence what their friends buy. Third, they investigated if liking had an impact on items other than purchases (for example, whether it can persuade people to engage in healthful behaviors). Fourth, they investigated whether increasing likes by paying for branded material to appear in followers' news feeds enhances the likelihood of meaningful behavior change.

References

John, L., Mochon, D., Emrich, O., & Schwartz, J. (2021, September 2). What’s the Value of a Like? Harvard Business Review.