Today, marketers are applying more
and more neurological data in combination with physiological and traditional
data in order to enhance the branding research (Venkatraman et al., 2012),
communication and advertising (Fugate, 2007), and lately customer engagement
and retention (Boshoff, 2012). However, all the mentioned tools and methods
above are characterized by some benefits and limitations. The major limitation
consists on the fact that these tools seem to be very costly which means that
only large organizations can get benefit out of them (Dubois and Isaac, 2011)
Neuroscientists and marketers claim that utilizing neurophysiological data
complement traditional data about customers which is substantial for
organizations because traditional methods have some limitations in some areas
that can be only completed by neurophysiological tools. In other words,
neurophysiological data offer more relevant measures and insights regarding
customers’ emotion and spontaneous responses and behaviors. These results
cannot be reached while using direct questions in traditional tools and methods
and therefore neurophysiological tools can capture more value in terms of
consumer responses to marketing stimuli excluding interference with
consciousness and rationality (Woodward and Shiv, 2012). In addition to that,
neurophysiological tools provide explicit measures of engagement, attention,
comprehension, and implicit memory, which are all considered to be apart of
conscious awareness and therefore can never be assessed by using traditional
methods such as focus group, questionnaire, and surveys… Due to these novel
tools, organizations can better understand the emotional side of consumers, which
is more related to customer engagement and retention. People do buy specific
brands and products because they feel emotionally connected to them and today
we can understand the reasons behind their emotions and accordingly we can
tailor our products to meet with customers’ expectations and enhance our
customers’ loyalty. The greatest contribution of these innovative tools and
methods to the marketing field is the generation of conceptual models of
consumer behavior that are explicitly originated from the activities of the
human brain which is a great opportunity to comprehend consumer behavior in
order to enhance our offerings and customer relationships to the extent (Woodward
and Shiv, 2012).