Neuroscience In Marketing

Advances in the fields of neuroscience and neuroeconomics are re-defining and enhancing our understanding of how human beings make decisions in general and how consumers make decisions from a marketing perspective. Neuro based laboratory and field applications can generate more advanced insights on consumer behaviour, team member behaviour, and employee behavior that can add enhanced value to managers in their implemention of marketing plans. Current evidence suggests that using neuro tools to generate behavioral insights (the how and why of a behavior) can lead to predictions that are more accurate by 20-40% and actions that are more likely to elicit the desired behavior from the target customer or other relevant person.

Based on research and consulting in this field by the program coordinator and faculty who will teach on the programme, the programme will cover neuroscience and its applications in the area of consumer behaviour, pricing, packaging and marketing communications and other business areas.

The programme would incorporate:

Basic principles of brain organisation and functioning.

Understand and evaluate key neuromarketing tools such as functional magnetic resonance imaging (fMRI), and electroencephalography (EEG), eye tracking, RFI, etc.

Capabilities and limitations of these methods with examples of their application.

Important consumer neuroscience research in marketing, pricing, branding and product design to highlight areas of future potential.

Applications of neuroscience in different marketing areas.