neuromarketing: marketing research future?

Neuromarketing: Marketing research future? Neuromarketing: Budućnost marketinških istraživanja?

Milorad Miljković, Ph.D Singidunum University

Slavko Alčaković, MBA Singidunum University

Abstract: The term “Neuromarketing” represents a new field of marketing research, interesting to both academics and self labeled companies. This new type of research allows powerful insights into human brain responses to different sets of marketing messages. This recently evolved field of marketing provides a new way to help marketers understand consumers easily and more efficiently. The Neuromarketing was born by combining two fields: Consumer behavior and Neuroscience. This article aims to help reader in understanding this new mixture of these sciences by explaining techniques that are used in this area and showing their application. However, this field is also marred by controversy. Both the academia and the public are divided whether this field is the “light on the end of the tunnel” or just a tool that will help marketers play a role of Orwell’s Big Brother.

Rezime: Termin „neuromarketing“ predstavlja novo polje marketing istraživanja koje sve više zaokuplja pažnju kako akademskih stručnjaka tako i privatnih kompanija. Ovaj novi tip istraživanja omogućava značajan uvid u ljudski mozak i doprinosi boljem razumevanju njegovih reakcija kada je pod uticajem različitih marketinških poruka. Ova nedavno razvijena marketinška oblast obezbeđuje nove mogućnosti marketarima da bolje, lakše i efikasnije razumeju potrošače. Neuromarketing je nastao kombinovanjem dve oblasti: ponašanja potrošača i neuronauke. Ovaj članak ima za cilj da pomogne čitaocu u razumevanju mešavine ovih oblasti objašnjavajući tehnike koje se pritom koriste i pokazujući njihovu praktičnu primenu. Međutim, neuromarketing je ipak obavijen velom kontroverze. Akademska zajednica i javnost su za sada podeljene u mišljenjima da li je on „svetlo na kraju tunela“ ili samo alat koji će pomoći i olakšati marketarima da igraju ulogu Orvelovog Velikog brata.

Key words: marketing, neuromarketing, consumer behavior, marketing research, brain scanning techniques.

Ključne reči: marketing, neuromarketing, ponašanje potrošača, marketing istraživanje, tehnike skeniranja ljudskog mozga.

M E N A D Ž M E N T, M A R K E T I N G I T R G O V I N A

Rad primljen: 25.05.2010. UDK: 659.113.25 612.821.2


274

1. INTRODUCTION: In ancient times Greek philosopher Plato compared the human soul with a chariot pulled by two horses. One horse was reason and the other one was emotion. However, the “black box” of consumer was until recently only the horse of reason [7]. Ignoring Plato’s horse of emotion was not intentional, it was just much easier to explore, model and predict reasoning of consumers than trying to predict their emotions [6]. Marketers tried with focus groups, deep interviews and many other techniques to find out what consumers think about some product or service. But it happened too many times that there was a large discrepancy in what consumers say they think and what they really think about [13]. This situation is rapidly changing in the world of marketing research. This is happening due to the rise of neuroscience and neuroimaging and its mixture with consumer behavior [13]. The creation of Neuromarketing caused some industry executives to declare: “We can say goodbye to bloody research groups where consumer either lie their heads off or tell us what we want to hear” [7]. Neuromarketing is the application of neuroscience to marketing. Neuromarketing includes the direct use of brain imaging, scanning, or other brain activity measurement technology to measure subject’s response to specific products, packaging, advertising, or other marketing elements. More generally, Neuromarketing includes the use of neuroscience research in marketing. For example, using fMRI or other techniques, researchers may find that a particular stimulus causes a consistent response in the brain of test subjects and that

this response is correlated with a desired behavior (e.g. trying something new) [5]. This paper will examine the topic of Neuromarketing in the following manner. The first section is an introduction into the field of Neuromarketing and its beginnings, with emphasis on whether the possibility of using neuroimaging techniques can help reduce marketing failures and lead to better understanding of consumers. The second section will describe neuroimaging techniques, and explain the process of using neuroimaging techniques in market research. Third section will discuss Neuromarketing studies done by academic institutions and private research companies. The final section examines the “benefits of Neuromarketing”, and implications for the future. 2. UNDERSTANDING THE NEUROMARKETING The two disciplines that are mining the human brain for clues for marketing strategies are neuroscience and consumer behavior. In consumer behavior, scientists are using traditional testing tools of psychology, in the way they think it will help understand how people (consumers) make decisions and what factors influence those decisions [13]. Neuroscience has appeared when Italian philosopher Angelo Mosso tried the following experiment: the analyzed subject was laying on balancing table which could be inclined only if the feet or the head become heavier. When the subject experienced intellectual or emotional activity, the balance was inclined towards the

what they are drinking, about half of the participants preferred Pepsi. When taking a sip of Pepsi, subjects registered a flurry activity in ventral putamen, a region that`s stimulated when we find taste appealing. But when Montague told them which samples were Coca Cola and which Pepsi, three fourths said that Coca Cola tasted better and their brain activity changed too[9]. In addition to ventral putamen, blood flows were now registering in the medial prefrontal cortex, a portion of the brain responsible, among other duties, for higher thinking and discernment. This study finally showed why Pepsi didn’t win the “Cola wars”, despite the fact that consumers thought it was tastier. The emotional engagement of people to Coca Cola was higher than rational preference to Pepsi [11]. We can see that strength of Neuromarketing is that it may hit on subconscious biases that traditional advertising methods, such as focus groups fail to uncover [7]. Sophisticated neuroimaging techniques strive to help in the future to reduce marketing failures and increase marketing success.


head, as a result of blood redistribution in the body [14]. The tools of neuroscience offer a literal glance inside the “black box” of the brain, allowing us to examine what is going on at a structural and functional level. [12]. Today numerous diagnostic methods that exist allow scientists to better understand the functioning of the nervous system. Brain-imaging technology is rapidly becoming a widespread research tool spurned by its increased sophistication as well as its decreasing cost of production and operation. A manifestation of these technological advances is the ability to apply neuroimaging to previously disparate fields; the field of consumer behavior has experienced this in the growing popularity of Neuromarketing as a distinct discipline [8]. Lee and others state that “Neuromarketing as a field of study can simply be defined as the application of neuro scientific methods to analyze and understand human behavior in relation to marketers and marketing exchanges” [8]. Neuromarketing is simply trying to understand thoughts and actions of the consumer. One of the earliest marketing studies, which caused a rise in popularity of this field, was a study of Read Montague, the director of the human neuroimaging at Baylor College of Medicine in Houston. This study was done and executed in 2003 and it was called “Pepsi paradox” [9]. Study was inspired by Pepsi commercial called “Pepsi challenge”, where participants when tried Coca Cola and Pepsi had to decide which one had the better taste. [2]. In Montague experiment, subjects took Pepsi challenge while he watched their neural activity with functional MRI machine, which tracks blood flow to different regions to the brain. Without knowing

3. NEUROMARKETING TECHNIQUES TOOLS OF NEUROMARKETERS “Neuromarketing” or “consumer neuroscience” has the goal to transfer insights from neurology to research in consumer behavior by applying neuroscientific methods to marketing relevant problems. These insights are possible when subjects perform an experimental task (E) and control task (C) while “wired up” to a variety of high tech devices that produce colorful, real time electronic images of a working brain. By comparing differences 275


276

between the images taken during the performance of the (E) task and the (C) task, the researcher can see what part is differently activated by the (E) task [7]. The goals of Neuromarketing studies are to obtain objective information about the inner workings of the brains of consumers without resorting to the subjective reports that have long been the mainstay of marketing studies. The choice of modality by neuromarketers will depend on a priori hypotheses (due to inverse problem1) and pilot research about relevant brain areas and activation patterns useful for predicting actual behavior [14]. One way to describe neuroscientific inquiry is through three broad components: localization, connectivity, and representation. The first component Localization, examines which parts of the brain are necessary or sufficient for various behavior and abilities. Second component, Connectivity, considers the ways in which different brain region pattern together for information processing. For example, a region in the occipital lobe called V4 shows specificity for processing certain kinds of visual stimuli and parts of the prefrontal cortex are responsible for directing and focusing attention. The final component, Representation, examines the codes with which information is stored and processed in the brain, sometimes including the attempt to “read out” of interpret those codes. Understanding neural representation is crucial for number of applied neuroscience endeavors, in particular reading out the moment-by-moment

thoughts and experiences of individuals to gauge their mental states as target stimuli (e.g. advertisements, products, etc) unfold around them in real time [15]. The basic set of methods used to generate neurological images is electroencephalography (EEG), magneto encephalography (MEG), positron emission tomography (PET), and the newest method - functional magnetic imaging (fMRI) [7]. The overview of the used brain scanning techniques is given in the following table (Table 1). The reason why fMRI is the most popular neuroimaging technique is clear advantage of fMRI results. The first reason is the balance between temporal and spatial resolution, allowing whole brain scans in less than three seconds. The second advantage derives from its non-invasiveness, permitting repeated measurement in healthy volunteers ad libitum [10]. However, it remains to be seen whether fMRI will gain ground as a Neuromarketing tool. The equipment cost of running a one hour research MRI is generally in USA $500 or more, not even including compensation to the subject [15]. The field has been increasingly dominated by EEG, a very different technology that is cheaper, more convenient and faster, but which can’t offer three-dimensional localization [3].

1 Inverse problem –because of infinite number of source configurations can generate identical potentials on the skin, estimated solutions of inverse problem i.e. source localization, require appropriate a priori assumptions about and volume conduction in order to yield physiologically meaningful data

Knowledge of brain function during consumer decision making is simply affirmed what was already drawn from many other research studies. Its power and contribution would be confirmatory

4. RESEARCH CONDUCTED BY ACADEMIA AND PRIVATE COMPANIES

Physical measure

Applied measure

Change in energy state of hydrogen Blood oxygenation level Magnetic diffusion gradient of water Radioactive 2-deoxyglucose Blood oxygenation level

Grey and white matter Metabolic activity White matter tracts Metabolic activity Metabolic activity Grey and white matter Population neural activity Population neural activity Accuracy and reaction time

Acronym

Temporal resolution1

Spatial resolution2

Days

1 cm

Other psychophysiological techniques Voice pitch analysis

VPA

Galvanic skin response

GSR

Eye tracking

Vocal cord vibration Electrical resistance

“Arousal” “Arousal”

Fractional seconds Fractional seconds

Corneal reflectivity Spatial attention Milliseconds

NA NA NA

* Temporal resolution – the fastest rate of changes that can be measured by neuroimaging technique ** Spatial resolution –the minimum possible distinction between location Source: [15].

rather than exploratory. There are many studies done by academia and the private consultant companies. Academia shows its results in many scientific and academic magazines, but private companies are not as eager as academics to talk openly about their research. Clients of the 90 or so Neuromarketing consultancies in the USA are somewhat reluctant to publicly confirm that are peeking into consumers grey matter [7].

Study of Read Montague which had proven a conclusive scientific link between branding and the brain took the scientific community by surprise, and in that moment advertisers and scientist started to pay attention. A similar Neuromarketing study followed at Princeton University. Four Princeton University psychologists scanned the brains of their subjects when they were presented with a choice: short term immediate gratification versus delayed rewards. 277


278

Picture 1: Process of fMRI

Source: [19].

The psychologists asked a group of random students to choose between a pair of Amazon.com gift vouchers. If they picked the first, a $15 gift voucher, they would get it at once. If they were willing to wait for two weeks, they would get $ 20 gift certificate. The brain scans revealed that both gift options triggered activity in the lateral prefrontal cortex, the area of the brain that generates emotion. But the possibility of getting that $ 15 gift certificate “now!” caused an unusual flurry of stimulation in the limbic areas of most students’ brains – a whole grouping of brain structures that’s primarily responsible for our emotional life, as well as for the formation of the memory. The more students were emotionally excited about something, the psychologists found, the greater the chances of their opting for the immediate, if less immediately gratifying alternative. Their rational minds knew the $ 20 was logically a better deal, but their emotions won out [11]. After these two studies, many other were also conducted and some of them will be examined briefly below. Small and colleagues examined changes in reward signal from eating chocolate, showing that as consumption continued to increase, reward activity was replaced with aversion(suggesting there is a neural basis for ”too much of a good thing,” or the “ware out effect” in advertising) [15].

Mayvis and Janiszewski demonstrated in series of consumer behavior experiments that irrelevant product information decreases the positive response of consumers to a product (i.e. how likely they are to believe a product will provide the desired benefit). They described the relationship between the diversity of a brand’s product portfolio and its ability to successfully extend its identity to novel products. Brands with a narrower product portfolio are less likely to be able to extend the perception of quality associated with their brand to novel products that differ significantly from those in their portfolio [15]. Erk and others tried to answer a question: ”Is it possible to find neural correlates to evaluate the attractiveness of a product?” The result was that the products which symbolize wealth and status lead to a higher activity in areas which are responsible for rewards. Deppe at al 2005a showed that in decision-making process favorite brands reduce analytic processing and lead to increasing attractiveness in fields associated with rewards [10]. Marketers commonly engage in the practice of giving human-like personalities to their brands or products e.g. fun, reliable, and hard-working. Yoon at al (2006) hypothesized that consumers’ judgment about adjectives used to describe people and objects would be processing in

clusions about the power of Neuromarketing. Indeed, at least ten commercial enterprises have been established with explicit objective of using these advanced technologies to provide Neuromarketing (Emsense, FKF Applied Research, Lucid Systems, Neurofocus, Neuroco, Neurosense Limited, OTOInsights, Sales Brain, Sands Research and Thought Sciences) and at least one US patent has been issued on that topic. Neuromarketing studies have garnered a great deal of attention from the public, with extensive coverage in both the mainstream press (Kelly,2002;Roston,2004; Greene,2007; Baker. 2008; Brainard, 2008) and internet weblogs (Dooley,2007) [14]. The Forbes magazine cover story: ”In Search of the Buy Button” caused huge publicity in the field of Neuromarketing. This article inspired Martin Lindstrom to start to think about this topic and conduct one of the biggest Neuromarketing studies [11]. All the studies were later published in a book called “Buyology: How Everything We Believe about Why We Buy Is Wrong”. The study that Martin Lindstrom started in 2004 took up nearly three years and cost approximately 7 million dollars (provided by eight multinational companies). It was comprised with multiple experiments and involved thousands of subjects from across the globe, as well as two hundred researchers, ten professor and doctors and ethic committee. The research team was overseen by Dr Gemma Calvert, founder of Neurosense in Oxford and Professor Richard Silberstein, the CEO of NeuroInsight in Australia [11]. Short overview of some Lindstrom’s research projects will be given below.


different regions of the brain. In their experiment, fMRI showed that the left inferior prefrontal cortex was active during judgments of people. While consumers may attribute human characteristics to brands and products, these attributions are not made in the same way as they are for people [7]. In series of noteworthy experiments, Berger and Fitzsimons (2008) revealed the compelling effect of the prominence of various concepts in the environment on brand preference and purchasing behavior. For example, varying the exposure of subjects to the color orange or images of dogs made them more likely to prefer orange-themed products (such as orange soda or Reese’s candy) or animal themed apparel (namely Puma shoes) [15]. In a study by Plassmann et al. (2008) which examined the effects of marketing actions (pricing) and the congruence between neural activity and the perceived reward, participants were presented with sample wines and their prices, and rated the pleasantness of each while their brain was scanned with fMRI. Regardless of the real cost of wine, subjects reported a more pleasant tasting experience as the wines’ indicated price increased. Remarkably, activity in reward-relation regions in the subjects’ brains also increased when they believed they were drinking more expensive wine, suggestion a cognitive factor unrelated to the actual taste sensation (here, the marketing action of pricing) could actually affect subjects’ perception of pleasantness [15]. The convergence of increased power in the form of technology and advances in our understanding of cognitive function has emboldened some to make sweeping con-

279


280

In one of research studies that Lindstrom conducted and wrote about in Buyology, he wanted to find out how come prominently placed health warnings on the cigarette boxes have very little effect on smokers. The warnings such as “Smoking causes fatal lung cancer”, “Smoking causes emphysema”, “Smoking while pregnant causes birth defects” seem to have no effect on consumers. The fMRI results showed that cigarette warnings - whether they informed smokers they were at risk of contracting emphysema, heart disease, or host or chronic conditions – had in fact stimulated an area of the smokers’ brains called the nucleus accumbens, otherwise known as “the crawling spot”. In short, the labels encouraged the smokers to light up a cigarette [11]. Other interesting study had to do with product placement in TV shows. On American Idol, there were at that time (2008) three main brands (each paid 26 million dollars): Coca Cola, Cingular Wireless and Ford. Coca Cola was present 60% of the time in American Idol. Cingular Wireless had a lower percentage, but TV host repeatedly reminded the viewers that they can only vote via messages if they are Cingular users (text messages from other cell phone providers were discarded) with practically always present Cingular logo. The Ford was present in only 30 second commercials during the TV breaks. The goal of this research was to find out whether viewers would remember which logos they had seen during the show and which one they wouldn’t. The results were: First, in pre-testing , they found out that despite how frequently the products from the three major sponsors – Ford, Cingular Wireless and Coca Cola – appeared in American Idol, the subjects showed no more memory

for these products than for any other randomly chosen products they saw before the study began. The test results showed that Coca Cola was very memorable, after watching the show, and it was more memorable than Cingular Wireless and far more than Ford. What was very amazing was that Ford did very poorly. In post program test, they discovered that after viewing the shows, the subjects actually remembered less about Ford commercials than they had before they entered the study. In other words, watching Coke-saturated show actually suppressed subject’s memories about Ford ads. In short, this study showed that people have no memory of brands that do not play an integral part in storyline of a program [11]. Other research tested subliminal advertising, i.e. if the subliminal images would generate cravings similar to the one generated by the logos and clearly marked Marlboro and Camel packs. He first showed subliminal images that had no overt connection to the cigarette brands – western style scenery, including iconic cowboys, beautiful sunsets and arid deserts. To establish comparison, they were shown explicit cigarette advertising images like the Marlboro Man and Joe Camel on his motorbike, as well Marlboro and Camel logos. The fMRI scans pronounced response in the volunteers’ nucleus accumbens – which we know are involved with reward, craving, and addiction-when they viewed cigarette packs. But when the smokers were exposed to images of cowboys on horseback, camel in the desert, over period of five seconds, there was almost immediate activity in the craving regions of the brain as well, i.e. the same region when they looked at the packs and logos of cigarettes. The second interesting result was that there is more

5. CONCLUDING REMARKS The search for the “secret grail of marketing” is an attempt to locate a mythical region of the human brain called the “buy button”. When activated this would

drive subsequent consumer behavior, perhaps without consumers being consciously aware. This caused big discussions all over the world [18]. Some think that finding the “buy button” will destroy people’s wishes and that all of the buying now will be done subconsciously because we are controlled by our subconscious which they (private companies) exploit. But the other side, namely certain academics and also private companies, say that this new way of research will help to better understand the consumers. In the future we would not have to worry, because all things that we buy will be the things that we want, subconsciously or not. It would be useful to summarize pro et contra positions. The opposition to Neuromarketing, such as Commercial Alert, Gary Ruskin, Ralph Nadar and Lior Arussy generally consider Neuromarketing as a new chapter in an old practice of trickery [1], which can actually lead to Orwellian future where unscrupulous marketers can induce consumers to make bad purchasing choices by exploiting the biologically determined structure of the brain [6]. There are pro attitudes too. In an Advertising Age opinion piece, Feit (2007) suggests that Neuromarketing will revolutionize the field of marketing by allowing us to look beyond our surface (i.e. behavioral) differences to “the ripples and folds of the human brain” where “we are built (and function) in largely the same way” [15]. The importance of the Neuromarketing was recognized by Nielsen Company, which joined forces with NeuroFocus. In the press info of the company:”Nielsen will integrate NeuroFocus’ techniques into existing services to better understand the


activity in the reward and craving center when subjects viewed subliminal images than when they viewed the overt(branded) images. In other words, sunset triggered more craving among smokers than the logo or images of the cigarette pack its self [11]. Another study examined the power of brands like Apple, Guinness, Ferrari, and Harley Davidson. These brands were used because they tend to be stronger and more emotionally engaging- they have a more passionate and loyal following. Before study started, the subjects were asked to rate their spirituality from one to ten, with ten to be the highest. Most termed their devoutness between seven and ten. The first results showed that the strong brands brought about greater activity in many areas of the brain involved memory, emotion, decision-making and meaning than weak brands did. The second result discovered that when people viewed images associated with strong brands – the iPods, the Harley Davidson, the Ferrari and the others – their brain registered the exact same patterns of activity as they did when they viewed the religious images. In short, the results showed that emotions that people experience when they are exposed to iPods, Guinness, and Ferrari sports cars are similar to the emotions generated by religious symbols such as crosses, rosary beads, Mother Theresa, Virgin Mary and the Bible [11].

281


elements of successful consumer engagement” [4]. No matter how one looks on it, Neuromarketing in one form or another is surely now one of the hottest new tools in marketing. When you Google the word Neuromarketing it shows 1.100.00, 00 hits. This new trend resulted in 90 Neuromarketing consultancies setting up in USA and many more in Europe. Agency clients include Fortune 500, manufacturers and notable service firms like McDonalds, movie studios, several large banks, and at least a few political campaigns [6]. Similarly, Neuromarketing recently scored a major victory when the use of its techniques on the cover page lead to 12% increase in sales of New Scientists magazine [13]. This article explained the basics of Neuromarketing and its techniques. What remains for the future is to determine whether or not Neuromarketing has a future as a marketing research tool. In authors’ opinion, Neuromarketing definitely offers advantages to marketers in comparison to focus groups and deep interviews. The use of Neuromarketing has a tremendous potential for allowing marketers to target consumers wishes and desires accurately when developing or communicating a product. However, what remains as a challenge for the future is the level of regulation necessary in order to prevent the use of Neuromarketing techniques for unethical purposes. References [1] Arussy, L. (2009) ”Neuromarketing Isn’t Marketing”, Customer relationship management magazine, Vol. 13, Issue 1, p 12 [2] Carmichael, M., (2010)“Neuromarketing: It is coming to lab near you”, http://www.pbs.org/wgbh/

282

pages/frontline/shows/persuaders/etc/neuro. html, date 07.09.2010 [3] Dooley, R. (2010)”fMRI, Neuron Data Validated”, http://www.neurosciencemarketing.com/blog/ articles/fmri-neuron-data-validated.htm, date 06.07.2010 [4] Dooley, R.(2010) ”Nielsen Buys Into Neuromarketing”, http://www.neurosciencemarketing.com/ blog/articles/nielsen-buys-into-neuromarketing. htm, date 06.07.2010 [5] Dooley, R. (2010)”What is Neuromarketing?”, http://www.neurosciencemarketing.com/blog/ articles/what-is-neuromarketing.htm, date 01.06.2010 [6] Fugate, D.(2008) ”Marketing services more effectively with neuromarketing research: a look into the future”, Journal of Services Marketing, Vol.22, Issue 2, pp. 170-173 [7] Fugate, D.(2007) ”Neuromarketing: a layman’s look at neuroscience and its potential application to marketing practice”, Journal of Consumer Marketing, Vol. 24, Issue 7, pp. 385-394 [8] Garcia, J., Saad, G.(2008) ”Evolutionary neuromarketing: Darwinizing the neuroimaging paradigm for consumer behavior”, Journal of Consumer Behavior, Vol. 8, Issue 5,pp 397-414 [9] http://searchcio-midmarket.techtarget.com/ sDefinition/0,,sid183_gci1038017,00.html, date 15.08.2010 [10] Kenning, P., Plassmann, H., Ahlert, D.(2007) ”Applications of functional magnetic resonance imaging for market research”, Qualitative Market Research: An International Journal, Vol. 10, Issue 2, pp 135-152 [11] Lindstrom, M. (2009 ) Buyology: How Everything We Believe About Why We Buy Is Wrong, Random House Business Books [12] Marci, C.(2008) ”Minding the gap: The evolving relationships between affective neuroscience and advertising research”, International Journal of Advertising, Vol. 27, Issue 3,p 473 [13] ”Marketing to the human brain”, trends E-magazine, Vol. 6, Issue 6, p 29-32 [14] Murphy, E., Illes, J., Reiner, P.(2008) ”Neuroethics of neuromarketing”, Journal of Consumer Behavior, Vol. 8 , Issue 5, pp 293-302 [15] Perrachione, T., Perrachione, J. (2008)”Brains and brands: Developing mutually informative research in neuroscience and marketing”, Journal of Consumer Behavior, Vol. 8, Issue 5, pp 303-318 [16] Plambeck, J.(2010) ”Brain Waves and Newsstands”, http://mediadecoder.blogs.nytimes. com/2010/09/05/brain-waves-and-newsstands/, date 08.08.2010

Authors: Milorad Miljkovic, PhD Professor, Singidunum University, Belgrade, Danijelova 32 e-mail: [email protected] Research interests: international marketing, foreign trade, marketing services. Slavko Alčaković, MBA Assistant, Singidunum University, Belgrade, Danijelova 32 e-mail: [email protected]


[17] Pop, C., Radomir, L., Maniu, A., Zaharie, M.(2009) ”Neuromarketing-Getting inside the customer’s mind”, Annals of the Faculty of Economics, University of Oradea, Vol. 4, Issue 1,pp 804-807 [18] Senior, C., Lee, N.(2008) ”Editorial: A manifesto for neuromarketing science”, Journal of Consumer Behavior, Vol. 8, Issue 5, pp 263-271 [19] http://singularityhub.com/wp-content/ uploads/2009/04/fmri_machine_scanner.jpg, date 10.08.2010

Research interest: marketing.

283