Innovations in Consumer Science: Applications of Neuro-Scientific Research Tools

TLDR: This chapter presents several examples that highlight the application of neurosciences to study aesthetics and sensory factors that have helped companies innovate and improve their products and in-store experience of their customers.

Abstract: The study of the biological aspects of the consumer behaviour through the application of neuroscience is one among the many innovations in the area of marketing, particularly in understanding the consumer behaviour. Only recently management scientists have started applying the principles of neuroscience in the management applications and theory building. The new methodologies of ‘Consumer Neuroscience’ provide an opportunity to understand the neural level processes in the brains of the consumers which in turn offer valuable insights into the cognitive decision making process of the consumers, which are otherwise not captured through traditional methods of management research. This chapter introduces the readers to the most commonly used tools of neuromarketing, such as fMRI, EEG, and ERP (P300) and then explains their applications in marketing. This chapter presents several examples that highlight the application of neurosciences to study aesthetics and sensory factors that have helped companies innovate and improve their products and in-store experience of their customers.