Marketing activity and strategy determine the success or failure of products, services and even people. Efforts to make one's product appear more attractive to the 'buyer' have existed since the start of human time. Technology is now being used to fine-tune the advertising and marketing tools used by industries ranging from movies to fast food.
Introduction to Neuromarketing
Marketing has become very advanced through the years and has grown exponentially with the addition of technology. As brands have proliferated and competition become increasingly international, companies are exploring myriad methods to make their products stand out. Alice Park (2007) estimated that a whopping $8 billion was spent on market research in 2006.
The most recent explorations into affecting buying behavior have led to the new field of neuromarketing. Neuromarketing basically involves the use of technology to determine people's impressions and preferences. Neuromarketing explores buyers' physical, cognitive and emotional responses to marketing stimuli. Of interest here is the use of brain scanners, such as a functional magnetic resonance imager (fMRI), to produce images of brain activity.
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