The global neuromarketing market is anticipated to grow at a CAGR of 8.5% during the forecast period. The growing focus of marketers towards reading customer cognitive behavior to improve their marketing strategies is one of the key factors driving the growth of the global neuromarketing market. Neuromarketing offers insights into the subconscious aspects of decision-making, whereas traditional marketing largely relies on self-reported data via surveys or focus groups. According to research, 85.0% of consumer decisions are not made consciously. Neuromarketing offers access to this territory for a deeper analysis of consumer preferences and behavior.
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Techniques such as EEG (electroencephalography), FMRI (functional magnetic resonance imaging) and eye-tracking record consumers’ physiological and neurological responses for objective data about consumer reactions. However, in-person focus groups utilizing techniques such as EEG and FMRI are not typically standard practice in the realm of neuromarketing. These techniques are used primarily in research or clinical settings to study brain function and are less common in traditional marketing research. The growing investment of big brands in improving their marketing strategies to increase their product sales is a key factor driving the growth of the global neuromarketing market. For instance, in April 2019, using neuromarketing research, the marketers behind the chip brand Frito-Lay’s (PepsiCo) have found out that, unlike shiny bags picturing chips, matte beige packages with pictures of potatoes and other natural ingredients don’t trigger activity in the brain area responsible for the feeling of guilt. As a result, sales increased. Neuromarketing can be very helpful when it comes to measuring consumer response to changes in design components like color, images, fonts, etc.
Global Neuromarketing Market Report Segment
By Technology
- Functional Magnetic Resonance Imaging (FMRI)
- Electroencephalography (EEG)
- Eye Tracking
- Positron Emission Tomography (PET)
- Magneto Encephalography (MEG)
By End-User
- BFSI
- Retail/Consumer Brands
- Market Research
- Scientific Institutions
- Others
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Neuromarketing Market Report Segment by Region
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
Company Profiles
- Cadwell Industries Inc.
- Compumedics LTD.
- Eb Neuro S.P.A.
- IMotions
- ISCAN Inc.
- MindMetriks
- Mindspeller
- Neural Sense (Pty) Ltd.
- NVISO SA
- Shimmer Sensing
- SR Labs SRL
- Synetiq Ltd.
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