Question

Companies are actively engaged in the attempt to understand consumer behavior decision making and what triggers actual purchasing behavior. The presentation below, TEDx Talks (2014) Patrick Renvoise - Is There a Buy Button Inside the Brain, addresses progressive marketing efforts through understanding the relationship between neuroscience (the brain), emotions, eye tracking, and voice analysis and other measures to gain greater insights to why and when consumers make purchase decisions. When considering the video presentation, how does the rational self, emotional self, instinctual self impact purchasing decisions? Furthermore, how can marketing managers utilize the findings of research related to neuroscience and purchasing behaviors to develop and implement marketing initiatives?

Answer 1

Actually i have just completed watching the TEDx talk of Patrick and i was very much impressed with the way he told about the marketing research methods and how to grab the emotion of the people and thus increasing the revenue to the organizations. The role our emotions play when making decisions can’t be ignored. What does this mean for marketers trying to influence a purchase decision or gain a lead? Marketers need to appeal to their buyer personas’ wants and needs. It’s a primal response; people see what they want and they take action.

Even when it came to simple decisions like what to eat, they would describe what they should do and have reasons for doing so, but were still unable to arrive at a final choice.

People not only like to share entertaining content, but they want to extend their own sense of humor to those they connect with online. Make people laugh with your content, and watch the shares increase.

Neuroscience in marketing overlays the scientific techniques of neuroscience on measuring the effectiveness of a product or marketing message to motivate consumer behavior. Typical consumer marketing research, like in focus groups, relies on people themselves to self-report their feelings and reactions, leaving much room for error. Though many small and medium-sized businesses may not be able to afford neuromarketing testing, it is possible that they can learn from and apply the results from other tests.