Since Professor Richard Thaler has got Nobel in Economics for his theory about “Exuberance is Rational,” it is sort of introspection for me to sit and re-look the concepts of marketing I know. I always perceived myself as an irrational customer, that’s why I was reluctant to pay the maintenance fee for 1 year at CR7 CRUNCH when I am about to use it for 9 months. Yes, Eli (MRCB Partner in crime) found it weird, and I kept my point explaining the concept of rationality.
Prof Thomas Ramsoy did answer my question in a beautiful way that how important it is for managers and academicians to collaborate and work to achieve the purpose of grabbing “attention” of customers in the times of cognitive overload.
Neuromarketing is indeed a beautiful invention of cutting-edge technology to analyze what a consumer never shares. It indeed tells us how a consumer “behaves” in a particular situation without even consciously intended to. Learning about the brain always makes me inquisitive that how capable it is, thanks to my association to positive psychology.
It was an informative session from an eminent professor, who is also the founder of Neurons Inc, revealing the exciting facts about brain and how it is targeted in the world of marketing. In a race of seizing the pie of a customer’s market-share, how brands end up without even getting noticed.
There is no tunnel with a single way, while the time is limited and the customer is impatient. It is the matter of a couple of seconds, in which customer makes its purchasing decisions. Challenge is to focus on direct emotions, not just liking.
Nevertheless, there is a lot to learn for marketers from Neuroscience, and it is the time to “re-search” the subconscious!