Neuromarketing: Marketing research in the new millennium

Abstract

Neuromarketing (NM) uses neuroscience tools, for example, but not limited to functional magnetic resonance imaging (fMRI) and electroencephalography (EEG) to study, explore, analyze, and explain the neural correlates of consumer’s behavior (i.e., decision-making processes), the cognitive processes (i.e., attention and memory) and emotional processes (i.e., emotion) of interest for marketing research (e.g., advertising, brand, product, price). This study analyzes the relevant literature and sheds light on the triune brain of humans, the dimensions of NM such as emotion, attention, and memory. Currently, emotional and cognitive processes have remarkably received attention from academic and industrial environments. Thus, NM presents unrivalled possibilities to record the activity regions in consumers' brains and provide precise information about which neurons are active when consumers are exposed to marketing stimuli. To best our knowledge, this will aid in shaping and understanding the central theme and set the future research directions for the researchers.