Ethical Responsibility of Neuromarketing Companies in Harnessing the Market Research – a Global Exploratory Approach
A key challenge in the 21st century is identifying how to satisfy consumers’ needs in the best manner possible, whilst ensuring companies’ financial profitability. Scientists play a major role in achieving this goal, as research methods, techniques and tools have continuously evolved. In the last...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Academy of Economic Studies of Bucharest
2014-02-01
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| Series: | Amfiteatru Economic |
| Subjects: | |
| Online Access: | http://www.amfiteatrueconomic.ro/ArticolEN.aspx?CodArticol=1249 |
| Summary: | A key challenge in the 21st century is identifying how to satisfy consumers’ needs in the
best manner possible, whilst ensuring companies’ financial profitability. Scientists play a
major role in achieving this goal, as research methods, techniques and tools have
continuously evolved. In the last two decades, the development of these instruments has
seen an important boost, as neuromarketing methods and techniques added depth and
accuracy to traditional studies. The main aim of this paper is to highlight the role and
importance of neuromarketing research techniques in the evolution of neurosciences and to
explain how these techniques are used in market research. One of the most important
challenges for companies who offer neuromarketing services is to stick to ethical principles
when performing the investigations. This is an obligation they have both towards the
beneficiaries – the companies providing products or services – and towards their consumers
as well. This challenge has always been a subject of dispute between the advocates and
critics of neuromarketing.
Thus, this paper deals with this and other controversial topics. It starts with analysing a
traditional persuasion model that has inherently been influenced by the neuromarketing
research features. Then, it addresses the positive and negative aspects that subjects might
have to face throughout neuromarketing studies, always bearing in mind the current Ethical
Code of Conduct issued by the Neuromarketing Science and Business Association
(NMSBA). An exploratory online research helped the authors test several hypotheses on
ethical issues that neuromarketing companies have to handle. The research was performed
on 67 neuromarketing companies from around the world that are members of the NMSBA.
The findings are relevant both to researchers and neuromarketing companies, even the
Romanian ones, who can use them used as insights. |
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| ISSN: | 1582-9146 2247-9104 |