World Journal of Engineering Research and Technology

Dr. Aparna Prashant Goyal*

ABSTRACT

The issue of the effects of Neuro-Marketing for companies and society is important since it is assumed that there is potential to discover implicit and automatic processes which determine the decision making process, and that it will reveal secret information about consumer behavior which was not obtainable by the traditional marketing methods (Hubert, and Kenning, 2008; Tusche, Bode, and Haynes, 2010; Ariely, and Berns, 2010; Senior, and Lee, 2008). Although there are also critical arguments against neuromarkertings? intervention into the privacy of customers, it is expected that with this method, more effective customer segmentation can be carried out, which in turn leads to improved marketing of products by considering individual product and brand preferences as well as consumer behavior in general (Venkatraman, Clithero, Fitzsimons, and Huettel, 2012). The traditional term ?marketing can be defined as an activity which tries to bring together products and people by understanding and analyzing human behavior which is relevant to the trade market (Ariely, and Berns, 2010; Lee et al., 2007). Although Madan (2010) argues that the activity of marketing is purely commercial and focused on sales, we take the underlying definition of Ariely and Berns (2010) as the basis, stating that marketing on the one hand deals with the presentation of products focusing on consumer needs, and on the other hand influencing the decision making process of the customer. It tries to understand all ongoing and economically relevant processes in the brain (Braeutigam, 2005).

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