The purpose of this study
The purpose of this study was to show that scientists have resorted to the use of neuroscience to evaluate consumer behaviors and hence develop marketing strategies that help organizations properly undertake their sales activities. Through the use of neuroscience strategies, scientists have managed to identify response of potential consumers and evaluate their reactions towards a given price at which an enterprise should sell its products. Also, the study aims at changing the marketing strategies that companies apply to their daily operations. According to the article which Camerer & Yoon compiled, marketers should be swift in adjusting changes in markets in which they sell their products.
Camerer's & Yoon's document
Camerer's & Yoon's document also serves the role of showing effectiveness of neuroscience in identification of heterogeneity of the potential consumers. Therefore, through application of insights that scholars have developed concerning the evaluation of psychological attributes of individuals, organizations can effectively sell their products and ensure that they succeed in competitive business environments with numerous challenges.
Question 2
In this research, the first concept explained concerns, mechanisms through which buyers make their decision to purchase a given commodity. In the course of explaining mechanism for decision-making processes among consumers, the authors used strategies such as functional Magnetic Resonance Imaging (fMRI) and Electroencephalography (EFG) which are essential in the determination of neural operations among individuals. According to reports in the journal article, the use of fMRI is essential in evaluating the peer influence among adolescents'. Also, through fMRI scholars can analyze impacts of prices on a consumer's decision to purchase a particular product. Through EFG, scholars can determine the influences that events have on neural operations of a particular buyer.
The article also explains the concept of predicting outcomes of a given marketing strategy on individuals and an entire market. Through the use of EFG, marketers can determine the impacts of a given marketing strategy in attaining an organization's goals concerning the sale of a particular product. According to document that Camerer & Yoon compiled, tracking of people's neurons help in predicting their ability to buy a given commodity or not. Furthermore, fMRI is also critical in determining outcomes of a given product promotional strategy a company resorts to use in the course of conducting its operations. Finally, Camerer's & Yoon's article explains the effectiveness of neuroscientific strategies in examining differences between consumers thereby enhance marketers' proper decision-making regarding product promotional approaches to use.
Question 3
I agree that neuroscience is important in enhancement of sales a company makes from its operations. According to Templeman (2016), through application of neuroscience, a marketer will appeal to the emotions of a potential buyer hence ensure that the consumer purchases a particular commodity. Besides, appealing to brain's self-serving instincts is essential strategies of ensuring consumers change their perception towards a product which they learn about through advertisement. Finally, Templeman (2016) opines that neuroscience helps in presenting the brain with a set of words which are unexpected and are not complex hence enable a potential buyer to develop a positive attitude towards a given commodity. Therefore, neuroscience is an effective strategy for improving marketing strategies that companies can use in enhancing sales of their products.
Sebastian (2016) also argue that the use of neuromarketing help in enhancing the sales of a given product because of a proper identification of emotional changes in the potential consumers. Through the use of strategies such as fMRI and EEG, a marketer will accurately identify changes in the brain operations when a person encounters particular information regarding a product. Furthermore, the use of neuroscience will considerably help in designing of marketing messages salespeople should use in luring consumers to buy a product.
Question 4
An additional scholarly source found that neuroscience is important in understanding the decision-making process among consumers by enhancing the process of evaluating the operations of unconscious parts of a person's brain. Furthermore, the scholarly article posits that principles of neuroscience are critical in gaining vital information regarding consumers' behaviors hence aid in development of proper marketing strategies for products a company produces or sells. Therefore, the scholarly article agrees with the argument that neuromarketing strategies are vital in enhancing sales through a proper comprehension of consumers' behaviors and emotions.
Question 5
The popular article has found that application of knowledge from neuroscience in marketing is an essential strategy that marketers can use to enhance the sales of products from particular companies. Through the popular article, it is evident that neuroscience helps in understanding behaviors of humankind and hence direct marketers concerning messages they can use in promoting a commodity. Moreover, the popular document shows that neuromarketing strategies help brain to avoid complex scenarios which lead to confusions or provide the mind with unexpected word choices hence influence consumers' decisions to buy a product.
Question 7
Information in Camerer's & Yoon's article can be helpful in my marketing plan for my business project because I can apply it to evaluate the outcome of product promotional activities that I intend to use. Through application of neuroscientific insights such as fMRI and EEG, I can determine responses that potential consumers will display towards my products. Besides, details from the article by Camerer & Yoon can be applicable in designing advertisement messages for my business organization and hence receive a positive response from the consumers.
References
Sebastian, V. (2014). Neuromarketing and evaluation of cognitive and emotional responses of consumers to marketing stimuli. Procedia-Social and Behavioral Sciences, 127, 753-757. Retrieved from https://www.sciencedirect.com/science/article/pii/S1877042814024409
Templeman, M. (2016, Aug. 25). “How to Use Neuroscience to Improve Your Content Marketing Strategy.” Forbes. Retrieved from https://www.forbes.com/sites/miketempleman/2016/08/25/how-to-use-neuroscience-to- improve-your-content-marketing-strategy/#3162d5e6477e
