Neuromarketing is a commercial marketing concept that applies neuropsychology strategies to assess consumer behaviour. It covers the cognitive and sensory systems to determine decision-making in terms of reaction to products and services on the market. The notion applies principles from neuroscience regarding marketing research, advertisement, and analysis of consumer behaviour. The objective behind neuromarketing is to understand how the brain responds to different marketing stimuli. These include advertisement, packaging, graphic design, and pricing strategies.
Neuromarketing utilises modern technology such as functional Magnetic Resonance (FMRI) and Electroencephalography (EEG). It also uses the eye-tracking system to identify clients’ emotional responses. The objective of the concept is to gain insight into consumer decision-making patterns and motivations regarding their spending habits. Therefore, neuromarketing combines neuroscience and generic marketing to understand consumer
decision-making models.