Neuromarketing Assessment for Eectroencephalography-myassignmenthelp

Question: Discuss about theNeuromarketing Assessment for Eectroencephalography. Answer: Research Field There have been recent significant improvements in Neuromarketing strategies performed by businesses across the world. Neuromarketing can be defined as the procedure for applying neuroscience to improve product marketing (Lee, Broderick, Chamberlain, 2007). Consumer neuroscience encompasses the application of Magnetic Resonance Imaging (MRI), biometrics, electroencephalography (EEG), eye tracking, facial coding etcetera to assess a consumers reaction to specific commodities, advertising, packaging and other elements of marketing. However, the application of this marketing strategy violates some of the basic ethical issues like consumer privacy and company transparency. Neuromarketing is also an expensive way of marketing. Secondary Data Data on the impact of human reaction and emotions in marketing can be readily accessed in https://www.bestmarketingdegrees.org/neuromarketing/, containing reports of the facts related to this field. Similarly, information on the expense of conducting some of the Neuromarketing strategies can be accessed in https://www.forbes.com/forbes/neuromarketing-tapping-into-the-pleasure-center-of-consumers/. Research Questions The primary aim of this research is to find out the advantages and disadvantages of neuroscience in business marketing. The following research questions will help in the study. Do human emotions affect a consumers decision to purchase a product? Is Neuromarketing a worthy investment in terms of cost-benefit analysis? Search Terms Some of the major search terms used in this research include the following: product promotion, Neuromarketing, cost-benefit analysis, Magnetic Resonance Imaging (MRI) etcetera. They are critical to the study and comprehension of the subject matter. Merged Articles Morin, C. (2011) and Ariely and Berns, (2010), agree that Neuromarketing is rapidly gaining popularity in the business marketing today. This can be attributed to its effectiveness in achieving the organizations marketing goals. However, Murphy, Illes, and Reiner, (2008) argue that the ethical issues in this field need to be carefully addressed before fully adopting the Neuromarketing project. Consumer privacy and company transparency are too great deals to ignore simply. References Ariely, D., Berns, G. S. (2010). Neuromarketing: the hope and hype of neuroimaging in business. Nature reviews neuroscience, 11(4), 284. Lee, N., Broderick, A. J., Chamberlain, L. (2007). What is Neuromarketing? A discussion and agenda for future research. International Journal of Psychophysiology, 63(2), 199-204. Morin, C. (2011). Neuromarketing: the new science of consumer behavior. Society, 48(2), 131-135. Murphy, E. R., Illes, J., Reiner, P. B. (2008). Neuroethics of Neuromarketing. Journal of Consumer Behaviour, 7(4?5), 293-302.