For pharmaceutical companies to make the most of the sales market and get their products out there, they have to make use of all the marketing techniques and opportunities available. One of the new techniques being considered by most companies is Neuromarketing.
What is Neuromarketing?
Neuromarketing is the application of neuroscience to marketing. Neuromarketing stems from the idea that all human feelings, thoughts, actions, and conscious decisions are products of neural activity in the brain. Hence, marketing analysts use Neuromarketing to better measure a consumer’s preference in purchasing certain goods or patronizing certain services. This knowledge helps marketers create products and services designed to specific customers and there it helps to make marketing more effective by focusing more on the brain’s response.
Neuromarketing involves the use of fMRI, EEG, galvanic skin response, and eye-tracking other brain scanning techniques to test for responses of the brain to a particular stimulus – the response may be correlated with a particular behavior. This technique helps to reduce the uncertainty of a customer’s behavior towards a product. Neuromarketing helps to predict and maybe even manipulate consumer behavior and decision making. It will also tell the marketer how the consumer will react to a product, whether it is the color of the package, the feel, the texture or else its scarcity. This is what Neuromarketing can do and it is why pharmaceutical companies must try it out as it can even produce better results than physical surveys.
How is Neuromarketing Carried Out?
It is no news that traditional methods of marketing are now limited and are not as effective as marketers would like it to be, and traditional marketing research does not answer all the questions about consumer behavior. However, combining Neuromarketing techniques with traditional methods may turn out to be more effective and help to achieve better results and market insights.
This may involve Direct to Consumer Advertising (DTCA), but depending on the policies and laws of a certain country, they can vary. Due to the high amounts of money involved in pharmaceutical drug advertising, many companies may benefit from neuromarketing research.
Neuromarketing has a lot to do with the brain and so many companies carry out Neuromarketing techniques to test commercials for pharmaceutical drug commercials. This is possible by understanding facts and answering questions like:
- Which commercials are more attractive, and which are less?
- Which parts of them are more memorable and engage emotionally the potential customer?
- Reveal the emotions and feelings generated by different parts of the commercial;
- Record patterns in the brain’s activity for each commercial;
- Monitor second by second the brain activity of potential customers when watching each commercial.
After the neuromarketing research on potential pharmaceutical drugs, marketers can:
- Select the most effective commercial;
- Reduce the costs of launching more commercial versions at the same time;
- Minimize the image damage of the drug company in case of launching an inadequate commercial version;
- Understand both the conscious and unconscious minds of the potential customers to use it in future projects.
The neuromarketing findings are not used to guide the behavior in the pharmaceutical drugs market. They become a priceless asset in understanding how emotional process influences perception and faith.