Neuromarketing is an emerging field that combines commerce with science. Through neuroscience and neuropsychology, consumer behavior is examined, to uncover information not obtainable through conventional measures. The purpose of this thesis is to examine what neuromarketing can contribute to a brand decision process, and additionally how it relates to three selected schools within the existing schools of brand management. The three schools evaluated is the economic, the consumer-based and finally the relational brand management approach. approaches are outlined with supporting themes and theory, in addition to critique. Basic presentation of the field of neuromarketing is outlined. However, as neuromarketing is broad field, only findings related to the first three stages of the decision-making model by Plassmann et al. (2012) is presented. These stages include attention and representation, predicting value, and finally experiencing value. Attention and representation deals with the themes of the subconscious consumer and choice architecture. Predicting value accounts for the aspects of emotion and preferences. Finally experiencing value outlines behavioral preference versus brand image, and expectation bias. Each finds from section is conclusively applied to the case of Barbie’s failed branding strategy in China. The discussion outlines scientific traditions, the distinguishing features, and values and implications of neuromarketing. Next, neuromarketing is assessed as a brand management compared the prior outlined schools. Finally, based on emphasized critique, and additional presented expert interviews, it is concluded that the field is not cohesively examined to generate a general neuromarketing brand management approach, though modification of existing brand management approaches may be needed. The final section offers reflections for future implications, and considerations when neuromarketing is developed further.
|Educations||Cand.merc.smc Strategic Market Creation, (Graduate Programme) Final Thesis|
|Number of pages||92|