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SCIENCE ARTICLE
Beyond traditional consumer research - current adoption and next steps for neuromarketing
1
Research Scholar, Symbiosis International (Deemed University),, India
2
Symbiosis Institute of Business Management, Symbiosis Institute of Business Management, Pune, Symbiosis International (Deemed University), India
Submission date: 2024-04-04
Final revision date: 2024-08-18
Acceptance date: 2024-09-06
Online publication date: 2024-10-14
Publication date: 2024-10-17
Corresponding author
Management 2024;28(2):70-105
KEYWORDS
JEL CLASSIFICATION CODES
M1
M5
M21
M31
TOPICS
ABSTRACT
Purpose. Neuroscience used for conducting market research is called Neuromarketing. Though the effectiveness of Neuromarketing over traditional research has been proven, its adoption is very limited. The automotive sector is one of the biggest industries worldwide and due to lack of detailed research on the adoption of Neuromarketing in the Automotive space, authors have tried to bridge this gap. They have identified the current adoption of Neuromarketing and have suggested solutions to overcome barriers. This research will help Automotive brands, market research companies and Neuro experts to come up with relevant solutions to increase the usage of Neuromarketing
Design. The authors first reviewed any available literature related to the Automotive landscape. Then, in-depth discussions with Automotive players were conducted in order to clarify the Neuromarketing adoption in the current scenario. Finally, Neuro experts, viz. neuroscientists and research companies, were consulted
for possible future solutions
Findings. Literature reviews and discussions with Automotive companies revealed that Neuromarketing adoption is limited as compared to traditional market research methods. Though the majority are aware of Neuromarketing, limited companies have used it. It is mostly undertaken in advertisement and product
testing, primarily using EEG and Eye tracking. Neuromarketing is perceived as being expensive and difficult to understand and having ethical concerns. It is also believed that Neuromarketing does not answer the ‘why’ behind the participants’ responses.
The paper also validated Simon’s Bounded Rationality Theory where automotive organizations used conformity instead of maximum value in adoption of neuromarketing. Expert discussions clarified that most of the Neuromarketing limitations like ethics, cost, lower sample, lab setup, etc. mentioned by
Automotive players can be overcome. Hence the next step is to take this science to maximum automotive players and make them aware of the development, conduct pilot studies, remove their inhibitions about Neuromarketing and complement it with traditional research methods.
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| eISSN: | 2299-193X |
| ISSN: | 1429-9321 (1997-2019) |
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