An emerging field in India and explored field in western countries. Neuromarketing is studying the consumers brain rather than asking questions through a survey. The term was coined by “Ale Smidts” in the year 2002, the research works started to proliferate from the year 2004. A book titled “Buyology” written by Martin Lindstorm is completely based on Neuromarketing research. Neuromarketing research explores the brain of the consumers to capture their unconscious brain. Researchers were able to find that humans are taking most of their decisions irrationally rather than rationality. Irrational thinking happens due to emotional response and unconscious brain. To understand better, when you were learning to ride a bike every part of your body was consciously working to control the bike and think about your situation now you are controlling the bike unconsciously. Even when you are buying a product you do the same, while choosing a product you are not using your rational brain instead your irrational brain (emotional) works better. To understand a conscious brain it’s easy, but to understand the unconscious brain it’s tough so researchers took the help from neuroscience. And that’s why neuromarketing is important. Continue reading
Category: Marketing Cases
Google Inc was found by Larry Page and Sergey Brin while they were pursuing their PhD in Stanford University. Google was incorporated on September 4, 1998. Google founders were in the verge to sell its search engine company to Excite CEO George Bell for $ 1 million to continue their doctoral studies. It was unfortunate that George declined the offer, later the company was supported by many venture capitalist companies and Google generated $25 million as the initial investment. After this fund generation Larry Page, Sergey Brin and Eric Schmidt (Executive Chairman) agreed to work together till 2024. Google – a software giant has acquired 125 companies to lead in the software industry. Search engine giants didn’t just stop with their website google.com , they moved forward by strengthening their company by innovating products in their lab “Google X”. Till now, people don’t know where the lab is located and what they do in the lab. It’s expected that it is located somewhere near Bay Area of North Carolina. Even the team Google X has amazed mobile device makers with Google Nexus mobile phone. Even they are challenging the automakers with their Driverless concept car research. In the recent news Google X lab is set to release a new product that is going to change the way we look at the world and that product is named as “Google Glass”.