A study on neuromarketing and its impact on advertising

Neuromarketing is a new type of marketing which entered the marketing field and getting enormous response from the consumers.It is a type of marketing which reads consumer minds and preference about the products and tries to deliver as per their requirement. In general, neuromarketing refers to measurement of physiological and neural signals which gains insights into consumer preference, motivation, decision, buying behavior which paves way for innovative advertisements and product development and other areas of marketing. Through neuromarketing we can track neural activity, physiological tracking which includes eye movement and brain scanning. The purpose of the study is to find out whether there is a relationship between neuro signals and advertising in the minds of consumers and itcreates impact among the consumers or not. Hence this paper focuses on whether neuro marketing acts a tool of advertising in the marketing field or not. Neuromarketing evaluates effectiveness of the strategies, which results from advertisement which has been measured and monitored using neuro imaging techniques such as Functional Magnetic Resonance Imaging (FMRI) and Electroencephalography (EEG). It decodes the process which is taking place in the consumer’s mind and discovers their desires, needs, and wants and make sure they get what they want. This neuromarketing also creates a positive relationship between companies and customers which reflects in brand loyalty and brand retention.This paper discusses the importance of neuromarketing and suggests its potential to improvise the effectiveness of advertisement and to know the mental impact of these neural signals in the minds of consumers.