...Neuromarketing: The New Frontier of Marketing Throughout our class discussions and papers written, we have debated opposing arguments about the ethical repercussions of marketing to children. In this paper I have decided to take it to an alternative level and evaluate the forefront of marketing, where it is heading, how it works, and attempt to bridge the gap on how this form of research affect children of various ages. Along with all of this, another debatable topic is the moral and ethical issues faced with this expanding sect of marketing. Neuromarketing: What is it? Neuromarketing is a new field of marketing research that studies consumers' sensorimotor, cognitive, and affective response to marketing stimuli. According to some, neuromarketing will change market research and marketing fundamentally. This new form of research is derived from the argument that people don't and can't really know what motivates them, because much of our mental processes are unconscious. However, the truth is that most decisions do involve both automatic, instinctive reactions, and elements of control and consideration. Tools of Neuromarketing: There are many tools used in the study of neuroscience to determine specific chemical changes as well as neurological changes in the human brain. It is the understanding that the researcher’s use of these tools can measure various levels of change in the human body when visually confronted with images and/or video clips. The results of these...
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...1.1 Introduction If we ask a number of people what marketing is, they will answer the question in various ways. Marketing involves more activities than most people might imagine. Although a single definition of marketing does not exist, there are a few definitions that have been widely approved. And one of them is given by The American Marketing Association (AMA). It defines marketing as "a process for creating, communicating, delivering, and exchanging ideas, goods and services, establishing their prices, promotion and distribution, in order to satisfy the goals of customers, clients, partners, and society at large". This definition emphasises the marketing focus on planning and performing marketing activities in order to satisfy the customers’ needs and wants. Today, marketing must not be interpreted by considering it in its old nature of "making and selling" but, instead, by referring to its new meaning which focuses on the satisfaction of customers' needs and wants. Sales cannot be performed before creating a product. Marketing starts long before a product is created by a company. It encompasses activities carried out by managers in order to assess the wants, define their scope, and find out whether profits are possible or not. Marketing activities continue over the entire lifetime of a product, trying to attract new clients and keep the existing ones by improving the product's quality and appeal, using the insights into sales results and the management of repeated orders...
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...NEURO-MARKETING Project work Paper No. – CH 6.3 (b) UNDER THE SUPERVISION OF MS. VARTIKA KHANDELWAL DECLARATION BY STUDENT This is to certify that the material embodied in this study entitled “NEURO-MARKETING” is based on my own research work and my indebtedness to other work/publications has been acknowledged at the relevant places. This study has not been submitted elsewhere either wholly or in part for award of any degree. DIVANSHU SAXENA DECLARATION BY TEACHER INCHARGE This is to certify that the project titled “NEURO - MARKETING” done by DIVANSHU SAXENA is a part of his/her academic curriculum for the degree of B.Com (H). It has no commercial implication and is done only for academic purpose. Ms.Vartika Khandelwal Ms. Aruna Jha (Mentor) (Teacher in charge) ACKNOWLEDGEMENT I express my deep sense of gratitude to my mentor Ms. Vartika Khandelwal for encouraging me to take the literature review on the topic of Neuro-Marketing as a part of my Bachelor of Commerce’s curriculum for semester VI. I am very much thankful to her for valuable guidance, keen interest and encouragement at various stages of my literature review work. I would further like to thank my Marketing teacher Ms. Monika Bansal whose guidance and suggestion contributed immensely to the evolution of my ideas on the project. I would also like to thank my friends and family without whom the project would have been a distant reality. Divanshu Saxena ...
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