Traditional Market Research and Neuromarketing Research

Author(s):  
Sertac Eroglu ◽  
Nihan Tomris Kucun

Marketing research, dedicated to comprehending consumer behavior and purchasing practice, comprises methodical gathering, analysis, and interpretation of related data. Since the understanding of consumer behavior is a comprehensive and complicated task, the contemporary marketing studies argue that traditional marketing research should be supported by neuromarketing methods to explore consumers' psychology, motivation, and behavior. In this chapter, the advantages and disadvantages of traditional marketing and neuromarketing research methodologies and the differences between them are discussed. The traditional market research methods are explained through their qualitative and quantitative dimensions. The most commonly used grouping scheme of techniques in neuromarketing research is presented, namely, neurometric, biometric, and psychometric techniques. The marketing research supported by neuromarketing approaches enables us to look at the consumers' mind as closely as we have never experienced before and opens up new horizons in understanding consumer and marketing relationship.

2021 ◽  
Vol 2021 (54) ◽  
pp. 167-181
Author(s):  
Valentyna Feshchenko ◽  

Significant opportunities, a wide choice and saturation of the market with goods and services make it difficult for consumers to make decisions about buying certain goods. Companies, experiencing high competition, actively use all possible approaches and methods of marketing. Often consumers do not rely on rational factors, but on their own subconscious motivations caused by marketing incentives. Therefore, companies pay considerable attention to research into consumer behavior and tastes to bring the end consumer closer to the product, convincing him of the need for its consumption. Most domestic companies continue to use the tools of classical marketing, despite the emergence of innovative methods of promotion. Traditional marketing research yields results that can be ineffective and deviate significantly from reality, so companies are beginning to look for alternative ways to study consumer behavior. One of the modern directions of research on consumer behavior is neuromarketing, whose methods exacerbate the problem of ethics of neuroscience. The purpose of this article is to analyze the possibilities of neuromarketing tools to study consumer behavior and determine the ethical aspects of the use of neuromarketing in today's market conditions. This goal involves the following tasks: 1) to reveal the relevance of the use of neuromarketing; 2) define the concept of neuromarketing and its types; 3) compare traditional marketing research and neuromarketing; 4) define the concept of neuroethics; 5) consider the problems of neuroethics in marketing; 6) consider the role of the code of ethics on the example of the NMSBA Code of Ethics; 7) identify solutions to ethical problems of neuromarketing. It has been found that neuromarketing is a promising marketing tool because it provides new information that cannot be obtained through traditional marketing research. It uses neurobiology to identify consumers’ subconscious decision-making processes and to understand the true stimuli for their behavior. Neuromarketologists conduct research to determine consumer actions that occur under the influence of their feelings, thoughts, and subconscious processes. Therefore, neuromarketing makes it possible to increase the value of products for consumers and society, provided that it simplifies the relationship between consumers and products. Unlike traditional marketing research, neuromarketing research allows to obtain results with smaller deviations from reality due to the ability to study consumers’ subconscious processes. Brain research for medical and commercial purposes involves the need to study ethical, legal and social issues and consequences that may arise in the research process. These questions are studied by a science called neuroethics. The most common ethical problems of neuromarketing are autonomy, informed consent, consumer confidentiality, and privacy. But if you follow the rules of the code of ethics, the use of these tools can be more effective.


Proceedings ◽  
2019 ◽  
Vol 31 (1) ◽  
pp. 12
Author(s):  
Brenes ◽  
Marín-Raventós ◽  
López

Market research is important because every company wants to stand out from their competitors. However, there are well-known weaknesses of traditional market research methods. This research presents a virtual reality system that aims to improve the quality of the data collected in marketing research. The system was designed and developed using Human–Computer Interaction techniques like iterative design, storyboards and prototypes. One hundred and twenty eight participants were involved in this research. Thirty five computer science graduate students, and twelve marketing professors validated the idea through a storyboard. Adjectives like innovative, useful and interesting were used by the participants to refer to the idea presented. Furthermore, eighty one marketing graduate students validated the prototype’s user experience and usability using the AttrakDiff survey. Unquestionably, 100% of the participants agreed that the prototype could help improve market studies of product packaging design. In addition, 99% of the participants said that they would use the prototype when executing market research of product packaging design.


Author(s):  
Anka Gorgiev ◽  
Nikolaos Dimitriadis

The following chapter focuses on the recent developments in the marketing industry resulting from the rise of neuromarketing. It offers analysis of the problems initiated by the traditional marketing research approaches and how these problems are being resolved by implementation of neuromarketing techniques. Moreover, both physiological and neurological measures are explained, providing advantages and disadvantages of all available neuromarketing tools that may be used in overcoming previously mentioned problems. Finally, the authors provide initial insights from a small scale qualitative research conducted among representatives from all segments of marketing industry.


2018 ◽  
pp. 350-370
Author(s):  
Anka Gorgiev ◽  
Nikolaos Dimitriadis

The following chapter focuses on the recent developments in the marketing industry resulting from the rise of neuromarketing. It offers analysis of the problems initiated by the traditional marketing research approaches and how these problems are being resolved by implementation of neuromarketing techniques. Moreover, both physiological and neurological measures are explained, providing advantages and disadvantages of all available neuromarketing tools that may be used in overcoming previously mentioned problems. Finally, the authors provide initial insights from a small scale qualitative research conducted among representatives from all segments of marketing industry.


2021 ◽  
Vol 2021 (54) ◽  
pp. 136-153
Author(s):  
Oleksandr Zhmai ◽  
◽  
Mariia Filatova ◽  

Significant opportunities, a wide choice and saturation of the market with goods and services make it difficult for consumers to make decisions about buying certain goods. Companies, experiencing high competition, actively use all possible approaches and methods of marketing. Often consumers do not rely on rational factors, but on their own subconscious motivations caused by marketing incentives. Therefore, companies pay considerable attention to research into consumer behavior and tastes to bring the end consumer closer to the product, convincing him of the need for its consumption. Most domestic companies continue to use the tools of classical marketing, despite the emergence of innovative methods of promotion. Traditional marketing research yields results that can be ineffective and deviate significantly from reality, so companies are beginning to look for alternative ways to study consumer behavior. One of the modern directions of research on consumer behavior is neuromarketing, whose methods exacerbate the problem of ethics of neuroscience. The purpose of this article is to analyze the possibilities of neuromarketing tools to study consumer behavior and determine the ethical aspects of the use of neuromarketing in today's market conditions. This goal involves the following tasks: 1) to reveal the relevance of the use of neuromarketing; 2) define the concept of neuromarketing and its types; 3) compare traditional marketing research and neuromarketing; 4) define the concept of neuroethics; 5) consider the problems of neuroethics in marketing; 6) consider the role of the code of ethics on the example of the NMSBA Code of Ethics; 7) identify solutions to ethical problems of neuromarketing. It has been found that neuromarketing is a promising marketing tool because it provides new information that cannot be obtained through traditional marketing research. It uses neurobiology to identify consumers’ subconscious decision-making processes and to understand the true stimuli for their behavior. Neuromarketologists conduct research to determine consumer actions that occur under the influence of their feelings, thoughts, and subconscious processes. Therefore, neuromarketing makes it possible to increase the value of products for consumers and society, provided that it simplifies the relationship between consumers and products. Unlike traditional marketing research, neuromarketing research allows to obtain results with smaller deviations from reality due to the ability to study consumers’ subconscious processes. Brain research for medical and commercial purposes involves the need to study ethical, legal and social issues and consequences that may arise in the research process. These questions are studied by a science called neuroethics. The most common ethical problems of neuromarketing are autonomy, informed consent, consumer confidentiality, and privacy. But if you follow the rules of the code of ethics, the use of these tools can be more effective.


2018 ◽  
Vol 1 (01) ◽  
pp. 01
Author(s):  
Ismulyana Djan

There are three things that should be into consideration in advertising certain product, ic,; the extent of similar products advertised at the same target market and media, cost of advertising, and difficulty in measuring advertising effectiveness. These three factors force management people to launch a market research concerning consumer behavior.Research carried out on 110 respondent asking them to mention: the brand of shampoo they used from ten different alternatives, seven usefulness of that product, and the kind of advertising media that is most often seen, heard, or read, shows that advertising shampoo product should pay attention to the: characteristic of the shampoo user, objective of advertising, target market to be achieved, advertising theme, press media used, and coordination with other marketing factors.That conclusion become the basic formulation on considering advertising policy of shampoo product that pay attention to consumer behavior.


2016 ◽  
Vol 19 (1) ◽  
pp. 101-114 ◽  
Author(s):  
Eman Gadalla ◽  
Ibrahim Abosag ◽  
Kathy Keeling

Purpose – This study aims to examine the nature and the potential use of avatar-based focus groups (AFGs) (i.e. focus groups conducted in three-dimensional [3D] virtual worlds [VWs]) as compared to face-to-face and online focus groups (OFGs), motivated by the ability of VWs to stimulate the realism of physical places. Over the past decade, there has been a rapid increase in using 3D VWs as a research tool. Design/methodology/approach – Using a two-phase reflective approach, data were collected first by using traditional face-to-face focus groups, followed by AFGs. In Phase 2, an online, semi-structured survey provided comparison data and experiences in AFGs, two-dimensional OFGs and traditional face-to-face focus groups. Findings – The findings identify the advantages and disadvantages of AFGs for marketing research. There is no evident difference in data quality between the results of AFGs and face-to-face focus groups. AFG compensates for some of the serious limitations associated with OFGs. Practical implications – The paper reflects on three issues, data quality, conduct of AFGs (including the moderator reflection) and participant experience, that together inform one’s understanding of the characteristics, advantages and limitations of AFG. Originality/value – This is the first paper to compare between AFGs, traditional face-to-face focus groups and OFGs. AFG holds many advantages over OFGs and even, sometimes, over face-to-face focus groups, providing a suitable environment for researchers to collect data.


2014 ◽  
Vol 56 (6) ◽  
pp. 717-736 ◽  
Author(s):  
Kyle Findlay ◽  
Jan Hofmeyr ◽  
Alice Louw

The traditional market research paradigm believes that, the more data you measure, the more potential for insight the data will hold. However, this paper takes the counter-intuitive standpoint that ‘less is more’. Drawing on the authors’ familiarity with neuroscience and behavioural economics, as well as five years’ worth of panel behavioural data in three categories and data from 2,769 studies across 1.9 million respondents, the paper argues that, just as it is important to ask the right questions in a survey, it is similarly important to measure ‘just enough’ but not too much information about brands. We show that measuring too much data is unnecessary and can even be detrimental to the richness of your data. Readers should take away practical guidelines for creating shorter, smarter surveys that still maintain the integrity of their data … and perhaps even improve it.


2007 ◽  
Vol 6 (2) ◽  
pp. 25-37
Author(s):  
Jyotirmoy Ghosh ◽  
G Anjaneyaswamy

Marketing research is defined as "the systematic and objective process of gathering, recording, and analyzing data for aid in making marketing decision." The essence of marketing research is to provide information used in decision making, and for the entrepreneur; there are fundamental differences between market information needed prior to start up and after a firm is established. Prior to opening for business, the entrepreneur wants to know whether a market exist for a new product or service, who is likely to be a primary customer, how to position the enterprise in a market, and how the product or service will be priced, promoted and distributed. Addressing these issues become part of the pre start up planning process. Once a firm has become established, much of this information is authenticated through actual experience, and market research expands to include a continuous competitive analysis.An effort has been made to demonstrate the above mentioned characteristics of marketing research undertaken by the entrepreneurs. The first half of the article portrays an effective framework of the methodology for marketing research. Entrepreneurial marketing research differs from its normal counterpart. These exclusive features are expressed and discussed in details. In the second part of the article, an effort has been made to narrate the nature of marketing research that can be ideally applied to all the different stages of successful venture life cycle. The functioning of all the different stage of the life cycle are discussed with the corresponding marketing research techniques that can be ideally applied, being expressed.


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