Tag Archives: Mynd

Is neuromarketing more precise than focus groups?

Source: Fast Company

A. K. Pradeep, CEO and Founder of NeuroFocus, and TMRE 2011 Keynote Speaker, claims that everyone loves their Apple iPad not because of the luxury of the product, but instead because Apple scientifically designed and built it so that customers would like it.  According to a recent article at Fast Company, Apple is not the only company using neuromarketnig to get inside consumers heads and figure out what makes them desire products. Citi, Google, HP, Paypal and Microsoft are just a few of the companies using ECG scanners to measure brain activity of consumers when their products are being marketed.

 This new portable device designed by NeuroFocus is one of a kind:

The skullcap-size device sports dozens of sensors that rest on a subject’s head like a crown of thorns. It covers the entire area of the brain, he explains, so it can comprehensively capture synaptic waves; but unlike previous models, it doesn’t require messy gel.

Pradeep goes on to claim in the article that he believes this type of market research is both more cost effective and precise than the traditional focus group: While Gallup must poll roughly a thousand people to achieve a 4% margin of error, NeuroFocus tests just two dozen subjects for its corporate clients–and even that is a sample size larger than those deployed by leading academic neuroscience labs.

A.K. Pradeep will be presenting Seven Dimensions For Shopper Marketing Success at TMRE 2011 this year.  Join Pradeep plus over 1200 market researcher to discuss this topic, among others, at the world’s largest research event.

Do you agree?  Do you see neuromarketing as more cost effective and precise than traditional market research methods?  Do you see it outpacing them in the near future?