Neuroscience in Marketing: Exploring the Mind through Neuromarketing

Abstract: Neuroscience has advanced so much, not only in the field of medicine, but it is also creating ripples in the marketing industry of the western world. Though it is not new to the advertising and marketing industries, but in Indian marketing it is new one. Ever since multinational companies were developing the strategies through this technique to understand the consumer’s behavior and capture the market. Efforts were made to utilize this neuromarketing technology to better understand the consumer. Knowing your customer is the biggest challenge. There are various tools through which neuromarketing studies consumer’s brain by scanning. It studies the response that the brain gives; this is where the desires and expectations are marked. Neuromarketing is a branch of neuroscience which finds the answers that are hidden on the part of consumer, by studying brain’s responses / reactions. Neuroscience has made a niche, which gives ample scope to study the behavior of consumers and how they take decisions. This paper is an attempt to identify neuromarketing which is a new subject / area in marketing of goods and services in Indian society.