The consumer centered organization directly, and/or indirectly positions "the consumer" as a decision maker. Thus, the overlying interest to delve into the mind of the consumer is a growing phenomenon that is strategically referred to as Neuromarketing. The concept was founded by Dr. David Lewis, who is referred to as the "father of Neuromarketing", having initiated studies of analyzing the activities of the brain for the purpose of applying it to commercial situations.
Neuromarketing allows an organization to determine why consumers make certain decisions. It explains consumer behavior by psychologically studying consumer cognitive, sensory and emotional response to marketing stimuli. Functional Magnetic Resonance Imaging (FMRI) measures changes in brain activity brought about by marketing initiatives. For instance, FMRI technology can analyze a subject's brain while watching a movie trailer, such as Transformers 2.
Does measuring brain and muscle activity, tracking eye movements, or identifying stress and emotional indicators actually allow an organization to understand its consumers? There is a great deal of perception attached to the technogology invovled. Assuming the experiementing and analysis is accurate, the manner in which organizations use the information to effectively adjust marketing initiatives that meet the needs of consumers raises questions. If it really works, the ability to respond to consumer needs and make adjustments such as the way a product is designed and demonstrated would bring significant profitability to the organization. Wouldn't all organizations immediately adopt such a psychological approach to business?
What about the possibility of manipulation? It has been said that a lie detector test could be manipulated, thus what negates the possiblity of consumers altering their behavior in Neuromarketing experiments. In the article Neuromarketing - Innovative ways to understand consumer buying decisions, it is noted that consumer behavior may actually be different because the experiment occurs in a confined and cordinated environment.
But of greater importance, do we as consumers actually want these organizations breathing down our backs and infringing on our personal rights to privacy of mind? Clearly, with the growing influence of technology, and therefore, with the application of Neuromarketing, we are becoming immune to the noted drawbacks.
Shall we continue consuming with an open mind?
Your Business Prodigy,
Alc
