How to Read Your Mind: Neuromarketing

Decent Essays

Four hundred twelve billion. Do you know what does this number means? This is the amount of money that each company spends on advertising and marketing each year.
John Wannamaker, the creator of the first department store in 1896 said, “I know half the money I spend on Advertising is wasted, I Just don’t know which half.”
Then, with this so much money and effort, why are so many companies are failing? Well, the quote from professor of Harvard Business School, Gerald Zaltman, might tell you why.
“The world has changed, but our methods for understanding consumers have not. We keep relying on familiar but ineffective research techniques and consequently misread consumer’s actions and thoughts. The products we create based on those techniques, simply aren’t connecting with consumers.”
As professor Zaltman says, the sales approaches until today were mostly outdated, and it constantly failed to read the real needs of consumers. Because of that, the need of the new marketing strategies for the new consumers has been raised, and the marketing strategy which is newly created now is ‘neuromarketing’.
Neuromarketing is a word that neuron and marketing is combined. It is a new field of marketing research that studies consumers’ brain response to marketing stimuli to learn why consumers make the decisions they do, and what part of the brain is telling them to do it. 85% of decisions people makes are made by the unconsciousness in people’s brain. People are not making their decisions,

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