DIGITAL MARKETING TRAINING IN BANGALORE

1. NEUROMARKETING NEUROMARKETING WWW.NIDMINDIA.COM

2. HISTORICAL HISTORICAL ASPECTS ASPECTS The term ‘NeuroMarketing’ The term ‘NeuroMarketing’ was coined by Ale Smidts in was coined by Ale Smidts in 2002 2002 WWW.NIDMINDIA.COM

3. WHAT IS NEUROMARKETING? Neuromarketing is the study of how people's brains Neuromarketing is the study of how people's brains respond to advertising and other brand-related messages respond to advertising and other brand-related messages by scientifically monitoring brainwave activity, eye by scientifically monitoring brainwave activity, eye tracking, and skin response. tracking, and skin response. Neuromarketing combines Neuromarketing combines neuroscience and marketing. neuroscience and marketing. It helps us decode the human brain to It helps us decode the human brain to create effective marketing strategies. create effective marketing strategies. WWW.NIDMINDIA.COM

4. WHY IS NEUROMARKETING IMPORTANT? Neuromarketing can help marketers Neuromarketing can help marketers to better understand: to better understand: 1 1. . 2 2. . 3 3. . 3. 1. 2. What motivates consumers to buy How consumers make decisions How consumers emotionally respond to marketing stimuli What makes marketing campaigns effective effective What motivates consumers to buy How consumers make decisions How consumers emotionally respond to marketing stimuli What makes marketing campaigns 4 4. . 4. WWW.NIDMINDIA.COM

5. HOW DOES NEUROMARKETING WORK? 1 2 3 4 EYE TRACKING: EYE TRACKING MEASURES WHERE A PERSON IS LOOKING ON A SCREEN. GALVANIC SKIN RESPONSE (GSR): GSR MEASURES CHANGES IN THE ELECTRICAL CONDUCTIVITY OF THE SKIN, WHICH CAN BE CAUSED BY CHANGES IN EMOTIONS. ELECTROENCEPHALOGRAPHY (EEG): EEG MEASURES THE ELECTRICAL ACTIVITY OF THE BRAIN. FUNCTIONAL MAGNETIC RESONANCE IMAGING (FMRI): FMRI MEASURES CHANGES IN BLOOD FLOW TO DIFFERENT PARTS OF THE BRAIN. WWW.NIDMINDIA.COM

6. APPLICATIONS OF APPLICATIONS OF NEUROMARKETING NEUROMARKETING Neuromarketing can be used to improve a variety of Neuromarketing can be used to improve a variety of marketing activities, including: marketing activities, including: Product development: Neuromarketing can be used to Product development: Neuromarketing can be used to test new product concepts and designs to see how they test new product concepts and designs to see how they are perceived by consumers. are perceived by consumers. Advertising: Neuromarketing can be used to test Advertising: Neuromarketing can be used to test different advertising campaigns to see which ones are different advertising campaigns to see which ones are most effective at engaging consumers. most effective at engaging consumers. Packaging: Neuromarketing can be used to design Packaging: Neuromarketing can be used to design product packaging that is more likely to grab product packaging that is more likely to grab consumers' attention and encourage them to buy. consumers' attention and encourage them to buy. Store layout: Neuromarketing can be used to design Store layout: Neuromarketing can be used to design store layouts that are more conducive to shopping and store layouts that are more conducive to shopping and spending. spending. WWW.NIDMINDIA.COM

7. EXAMPLES OF NEUROMARKETING EXAMPLES OF NEUROMARKETING IN USE IN USE Frito-Lay used neuromarketing to test a new commercial for Frito-Lay used neuromarketing to test a new commercial for Doritos that was panned by traditional focus groups. The Doritos that was panned by traditional focus groups. The commercial used EEG tests to show that the commercial was commercial used EEG tests to show that the commercial was actually very effective at engaging consumers' attention. actually very effective at engaging consumers' attention. Coca-Cola used neuromarketing to design a new bottle for Coca-Cola used neuromarketing to design a new bottle for Sprite. The new bottle was designed to be more visually Sprite. The new bottle was designed to be more visually appealing and to stimulate the brain's pleasure centers. appealing and to stimulate the brain's pleasure centers. Walmart used neuromarketing to design a new store layout Walmart used neuromarketing to design a new store layout that is more conducive to shopping and spending. The new that is more conducive to shopping and spending. The new layout places items that are frequently purchased together layout places items that are frequently purchased together closer together and uses color and lighting to create a more closer together and uses color and lighting to create a more positive shopping experience. positive shopping experience. WWW.NIDMINDIA.COM

8. BENEFITS OF BENEFITS OF NEUROMARKETING NEUROMARKETING Improved product development Better customer understanding Reduced costs Increased sales Neuromarketing Neuromarketing can help businesses can help businesses to better to better understand their understand their customers' customers' motivations, motivations, preferences, and preferences, and needs. needs. Neuromarketing can Neuromarketing can help businesses to help businesses to develop products develop products that are more likely that are more likely to be appealing to to be appealing to consumers. consumers. Neuromarketing can Neuromarketing can help businesses to help businesses to reduce the cost of reduce the cost of marketing marketing campaigns by campaigns by identifying the identifying the most effective most effective strategies. strategies. Neuromarketing Neuromarketing can help businesses can help businesses to create more to create more effective marketing effective marketing campaigns that campaigns that lead to increased lead to increased sales. sales. WWW.NIDMINDIA.COM

9. CHALLENGES OF CHALLENGES OF NEUROMARKETING NEUROMARKETING Cost: Neuromarketing research can be expensive. Ethical concerns: Some people have raised ethical concerns about the use of neuromarketing to influence consumer behavior. Privacy concerns: Others have expressed concerns about the privacy of neuromarketing research data. WWW.NIDMINDIA.COM

10. THE FUTURE OF THE FUTURE OF NEUROMARKETING NEUROMARKETING Neuromarketing is a rapidly growing field, and it is Neuromarketing is a rapidly growing field, and it is expected to play an increasingly important role in expected to play an increasingly important role in marketing in the future. As neuromarketing research marketing in the future. As neuromarketing research becomes more sophisticated and affordable, becomes more sophisticated and affordable, businesses will be able to use it to create more businesses will be able to use it to create more targeted and effective marketing campaigns. targeted and effective marketing campaigns. STATISTICS STATISTICS The Neuromarketing The Neuromarketing Market is growing at a Market is growing at a CAGR of 8.89% over the CAGR of 8.89% over the next 5 years. next 5 years. WWW.NIDMINDIA.COM

11. CONCLUSION CONCLUSION Neuromarketing is a powerful tool that can help Neuromarketing is a powerful tool that can help businesses to better understand their customers and businesses to better understand their customers and create more effective marketing campaigns. create more effective marketing campaigns. However, it is important to be aware of the However, it is important to be aware of the challenges associated with neuromarketing, such as challenges associated with neuromarketing, such as cost, ethical concerns, and privacy concerns. cost, ethical concerns, and privacy concerns. WWW.NIDMINDIA.COM

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