Neuroeconomic and Neuromarketing Research - Phdassistance
                     NEUROECONOMIC AND  
NEUROM ARKETING 
RESEARC H  FRAMEWORK FOR 
FUTURE  MANAGEMENT 
RESEARCH  DIRECTIONS FOR 
PHD
An Academic presentation by
Dr. Nancy Agnes, Head, Technical Operations, 
Phdassistance  Group www.phdassistance.com
Email: [email protected]
TODAY'S  
DISC USSION
Introduction
Neuroscientific 
components  Related work
Future of Neuroeconomic 
and  Neuromarketing 
Research
INTRODUCTION
"Neuromarketing as a topic of research  
may simply be concerned with the  
application of neuro scientific approaches 
 to examine and comprehend human  
behaviour in connection to marketers and 
 marketing exchanges," according to Lee  
and colleagues.
The goal of neuromarketing is to  
comprehend the consumer's thoughts 
and  behaviours.
The purpose of "neuromarketing," sometimes known as "consumer 
neuroscience,"  is to use neuroscientific methodologies to marketing-related 
challenges in order  to bring findings from neurology to consumer behaviour 
research (Baskaran et al.,  2021).
The objectives of neuromarketing studies aim to collect objective knowledge 
on  the inner workings of customers' brains without relying on subjective 
reports, which  have long been the backbone of marketing research.
Neuromarketers' choice of modality will be based on a priori ideas and pilot  
research regarding important brain regions and activation patterns that may 
be  used to predict real behaviour (Takemura, 2021).

NEUROSC IENTIFI
C  COMPONENTS
Three major components can be used to define  
neuroscientific investigation: localization, connection, 
and  representation are all terms used to describe how 
 something is located.
Localization is the first component, and it investigates  
whether areas of the brain are required or adequate 
for  specific behaviours and skills.
The second component, Connectivity, looks at how  
various brain regions collaborate to interpret 
information.
For example, the V4 area of the occipital lobe is responsible for processing 
particular  types of visual inputs, while elements of the prefrontal cortex are in 
charge of attention  direction and concentrating (Oliveira et al., 2022).
The fourth component, Representation, looks at the codes that data is stored and  
interpreted in the brain, as well as attempts to "read out" or interpret those codes.
Understanding brain representation is critical for a variety of applied neuroscience  
projects, including reading aloud people's thoughts and experiences in real time to  
measure their mental states while target stimuli (e.g. commercials, goods, etc.) 
develop  around them (Glushchenko, 2021).
RELATED 
WORK
The authors (Karpova & Rozhkov, 2019)  
reviewed that there are  notable  
differences between the thesis's early  
plans and the final structure.
After a  thorough literature review, the 
initial  idea of focusing on the full  
neuroeconomics and implementing a  
worldwide survey to discover and  
differentiate region-specific consumer
behaviours ceded to a  focus on  
neuromarketing in tandem  with brand
management.
Researchers (Rüschendorf, 2020) studied that this shift was sparked by the  
discipline of neuroeconomics' hitherto underappreciated extent.
The literature search was the most difficult component of effective on the  
theoretical component. However, it turns out that the bulk of textbooks are 
only  available in e-book format in university libraries, and newer versions are 
only  accessible as bound versions on site.
As a consequence, the hypothesis provided in this work is mostly based on 
prior  studies.
Although the work's trustworthiness the other researchers (Varona Aramburu 
et  al., 2019) reviewed to guarantee that the information reprinted is still 
current, it  can't be excluded out that in such a fast-paced and dynamic 
subject as  neuromarketing and neuroeconomics, new insights have already 
been achieved  that update or supplement portions of this work.
Nonetheless, the legitimacy of the argument is ensured by the fact that all 
claims  are based on well-founded sources from reputable experts.
The techniques and concepts offered in this thesis' theoretical section are  
frequently debated.
One charge raised against marketing is that brand promotion
manipulates  consumers on an unconscious level, resulting in the creation of 
new desires.
Neuroscientific results, on the other hand, have revealed that human 
intentions  are biologically determined.
FUTURE OF  
NEUROECONOMIC 
AND
NTEheU RresOeaMrchAerR’s K(ESwTgI N&G  Nuremberg, 2020) 
reviewed  that neuroscience and consumer 
RbEehSaEvioAurR aCreH two  areas that are exploring the 
human brain for  marketing strategy signals.
In the field of consumer behaviour, scientists are  
employing standard psychological testing 
techniques  in the hopes of better understanding 
how individuals  (consumers) make a decision and 
what variables  impact those decisions.
In this sense, marketing does not generate fake demands, but rather 
demonstrates  many methods to meet such needs. Furthermore, a thorough 
understanding of  consumer preferences aids in the development of goods that 
are tailored to their  needs.
In this study, authors (Baron et al., 2019) stated that the charge of generalisation 
in  relation to neuromarketing ideas cannot be completely rejected.
The design of the framework and the collection of test subjects were the most  
difficult aspects of the empirical element.
While a quantitative expert interview was first planned, it looked that effectively  
contacting matching experts would be challenging. As a result, instead of a   
quantitative case study, a  qualitative research strategy on the combination of 
theory  principles was conducted.
This proved to be a crucial and vital component, particularly for the quantitative  
survey's implementation, since the case study gave a better knowledge of the 
theory  that the survey could pick up on.
We can see that Neuromarketing's strength is that it can get into subconscious  
prejudices that standard advertising approaches like focus groups in advanced  
technology. Advanced neuroimaging techniques aim to decrease marketing 
failures  and boost marketing success in the future.
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