Summary: Neuromarketing

Read the summary and the most important questions on Neuromarketing

• 1 Classes

• 1.1 PowerPoint week 1

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• What are the 2 definitions streams in NeuroMarketing?

  Pragmatic approach -> NM is a marketing tool
  Application of the acquired knowledge on an individual case
  
  Technical approach -> NM is a research tool
  Application of neuro-research techniques in the investigation of  an individual case

• Neuromarketing is the application of research methodology

  Neuromarketing -> Neuro-research -> Psychophysiological measurement techniques 
  
  Trade discipline -> Research methodology -> Research Techniques

• Neuromarketing is more than just brain research

  - Neuro-research techniques
  - Nervous system
  
  Using neuro-research techniques to measure the responses of the nervous system to a marketing stimulus

• 1- What is expressed through physical (re)actions of the human body?2- The human image of Neuromarketing is entirely based on...?

  1. Emotional, Cognitive and Behavioural components of attitudes
     
  2. Homo Phychologicus: we're not fully rational. But, rational, emotional and unconscious factors play a role in decision making

• What are the differences between a Homo economicus and a Homo psychologicus?

  Homo economicus
  
  - Be able to classify needs and assess alternatives
  - Extensive evaluation of alternatives to reach maximum result
  - Rational choice process
  - Well-considered choices
  
  
  Homo psychologicus
  
  - Internal processes influences the choice of behaviour
  - Instinctive preferences
  - Emotional & limited rational choice process
  - Quickly satisfied

• What are the 3 main goals of Neuromarketing?

  1. Better understand the customer and his response to marketing stimuli
     
  2. Increase the effectiveness of marketing efforts
     
  3. Get customer insights
     

• Fascination for and knowledge of the brain

  René Descartes is the founder of neuropsychology, and he made a distinction between the mind and the body. However this is not true as these two are actually inseparably connected.
  
  In the 20th century, with the invention of the EEG and MRI, the knowledge of the nervous system increases a lot.

• Insights from Economic Psychology

  It studies the psychological mechanisms underlying ecomonic behaviour.
  
  Founders: Daniel Kahneman and Adam Tversky

• How can you get out of the Rogers Gap?

  A shift from a supply-oriented discipline to a demand-oriented discipline
  
  

  • Lower costs
    
  • More knowledge
    
  • More practical examples
    
  • Better view of the application possibilities
    

• 1.2 PowerPoint week 2

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• The customer is like an Iceberg. Explain Kahnemans Iceberg.

  A large part of our behaviour stems from unconscious activities in the brain. 95% is unconscious and 5% is conscious.
  
  SYSTEM 1                                                          SYSTEM 2
  
  - Automatic & fast                                         - Slow
  - Unconscious                                                - Conscious 
  - Instinctive and emotional                        - Rational and calculating
  - No effort                                                        - Effort
  - Intuition                                                        - Ratio