Technology in Marketing | Advantages and Disadvantages

Keywords: drawbacks of neuromarketing, neuromarketing down sides, neuromarketing advantages

Chaffey and Smith also articulated that digital marketing is the procedure of making use of digital technology like emails, directories, websites, mobiles and other recent inventions such as social networks to donate to marketing activities whose goal is to achieve profitable increases and retention of customers through knowing the strategic need for digital technology and developing a planned tactic to enhance customer knowledge by focusing on their profiles, behavior, and what makes them loyal and then presenting online services that correspond using their specific needs.

Advantages of technology

Marketing has developed tremendously with the advancement of technology. The web, which is growing rapidly, is one of the most important technologies which have affected marketing. It includes destroyed all limitations such as time and distance. Manufacturers is now able to connect with customers without any constraints. In addition, it gave a chance for small regional companies to access bigger marketplaces and compete internationally. The web exposes customers to these various markets, gives them the opportunity to choose from a wider range of products so they might find precisely what they are looking for. Another positive impact of technology on marketing is that it allows companies to store information about each customer in order to understand them more completely using previous behavioural data. Getting feedback from customers has an important role in marketing. Knowing the weaknesses and advantages with their product would be extremely useful if they received opinions from customers instantly. If there have been any deficiencies or features in the merchandise which customers were complaining about, the manufacturers may find solutions or enhance their product as quickly as possible so it doesn't result in a reduction in sales. Alternatively receiving positive feedback and knowing the strengths of these product allows them know very well what to focus on in manufacturing the next product or what to concentrate on in advertising because of this product.

Disadvantages of technology

As well as the countless benefits of technology, we cannot ignore the negatives that affect marketing. A lot of people have privacy concerns when it comes to utilising the web. From the company's viewpoint, it may dread that their databases of clients and suppliers or other important data such as unreleased financial information would be hacked and stolen by competitors. From your customer's viewpoint, the actual fact that the company can save and utilize large amounts of diverse information about their activities and passions using cookies can be distressing. Folks have been debating whether this function is honest or not for years. Some say it is an invasion of the customer's privateness because the business would track every move they make on the website. Others say that it is actually moral because the information accumulated wouldn't be shared with a third party and it'll only be used to enhance the buying experience for the consumer.

Godin (2009) recommended the idea of the "purple cow" which is mainly about being exceptional in order to be remembered and therefore succeed. Corresponding to him, exceptional marketing is the art of creating things worth noticing instead of using marketing as an add-on within the last minute which is basically because if the product or service you're offering is not impressive then it is unseen. He also clarified that it's safer to be risky and that you must fortify your desire to do amazing things. It becomes very imperative to create remarkable things which are worth discussing once you understood that the traditional ways have faded.

The record of marketing

As mentioned above, marketing has been changing continually within the last decades. The development of new systems and the innovations of marketing ideas have led us to where our company is right now. Harris and Cohen (2003) advised that we now have three eras apart from the time which we are in which is the digital age. The first time is the development era which finished in the 1930s. During this time period companies focused on production based on the availability of recycleables and mechanical electric power needed in the production process. The second era existed between the 1930s and the 1950s and was called the sales time. Customers' needs and wishes became primary in this era; marketers began to recognize the client and his needs as an important factor in the business equation, therefore work were centered on consumer advertising. The 3rd time, the marketing period, was between the 1950s and the 1960s. Throughout this era marketing broadened and the concentration transferred from only focusing on the consumers themselves to concentrating on competition, research, planning and control, and advertising.

Godin (2009) made comparisons of marketing throughout the years. He pointed out that before advertising people depended on person to person in buying products. Products that were talked about were eventually purchased. A shop's reputation was their only form of marketing in the past. After that came televisions, radios, and newspaper publishers. People assumed that advertising to consumers immediately would lead to an increase in sales. Nowadays we're almost back again where we started. The difference is the fact instead of using word of mouth, marketers tend to use social networks which is actually similar to person to person but considerably faster and reaches a larger volume of customers.

Marketing and Neuromarketing

For decades, most marketing theories searched ways to encourage consumers buy products. This specific task is becoming more difficult in modern societies; consumers are becoming wiser in their preferences and selection particularly when the market segments itself offer them with huge selection of options. In the contrary, Saren (2011) is convinced that folks put their creative energies into utilization. They regularly purchase products predicated on their spirits or feelings rather than making sure they buy the product with the very best quality at the cheapest price.

One of the modern ideas in marketing is neuromarketing. This idea originated from progress of neurosciences research. Improvements in neuroscience within the last two decades have transformed our understanding of the brain and how it operates. Therefore marketers and researchers have began to think about how it could be found in order to improve their researches in brand marketing. Neuroscience techniques offer a target view of what consumers actually think without resorting to an interviewer or a questionnaire that may lead to bias results (Web page and Raymond 2007).

Most of what we know about how the brain works is based on the analysis of the brain functions, where neurological conditions are obvious and closely monitored. Addie (2011) argues that it is necessary to have an accurate and inclusive knowledge of the brain's function so the results could be properly interpreted and totally understood.

Findings from neurosciences and brain research enlightened marketing research workers to explore unique ways to enhance their understanding about the consumers and the term "neuromarketing" was unveiled in marketing renowned journals. We quite simply focused on how to work with brain imaging to analyze the amount of positive emotions bred by the product experience. According to Zurawicki (2010, p. 211) there are approximately 90 private neuroscience labs contracting with businesses to execute applied studies on consumer patterns, attitudes and related issues.

Studying consumers represents how they understand, remember and feel about acquiring and using products and services. Zurawicki (2010) also advised that enhanced understanding of people's experience is essential in order to grasp how consumers end up buying. Neuromarketing has addressed a diversified range of problems came across in consumer action. This is anticipated to constraints imposed by the available technology, the diverse difficulty of the study task, and the difficulty in organizing different kinds of tests.

The brains process most of their sensory suggestions subconsciously. A lot of the information taken by our senses comes through our sight, as a quarter of the brain's quantity is devoted to the aesthetic image handling and integration. The rest of the senses contribute as well; the hearing sense enables the basic function of communication and we can interpret the speech. Preference and smell senses allow us to detect chemicals in the surroundings; they separate the healthy and useful chemicals from those that are undesirable or even dangerous. Marketers can significantly improve a product's success available on the market by linking it with a pleasant, iconic smell. Merging senses generates a higher level of proposal with the consumer if you encourage multiple senses that make sense jointly. (Pradeep 2010)

Assuming that you can gain access to the subconscious mind or get true options of feeling only by using biometric procedures is false. Web page and Raymond (2007) explained that lots of conclusions about the mind are obtained by relating stimuli which make a known feeling such as enthusiasm or stress and anxiety with the mind activity. These emotions are clearly involved in a conscious experience alternatively than unconscious.

In order to comprehend how the brain works and how human beings can understand the bond between it and between thoughts and emotions which have an impact on the purchasing process, we have to perform brain research methods. Electroencephalography (EEG) can be an important type which is a diagnostic tool for brain disorders. It can show the brain's activity using psychological says. Observation of the brain waves whose different amplitudes correspond with different mental state governments, such as wakefulness, leisure, calmness, and light and profound sleep can notify a great deal about the subject's state of mind. (zurawicki 2010, pradeep 2010)

Zurawicki (2010) discussed that measuring the mind activity happens by inserting numerous electrodes in various locations on the scalp. Each electrode makes a saving of its own so we're able to draw a meaningful conclusion by looking at them with the baseline level. We can now study the brain activity by having a naturalistic observation by using lightweight EEG devices which allow us to acquire data anytime and anywhere.

Functional Magnetic Resonance Imaging (fMRI) actions the upsurge in air in the blood flow within the brain. It accurately shows when activity in a particular area of the brain increases. When neurological activity raises, the oxygen in the brain increases in order to support this activity, and fMRI scans catch this increase. It requires up to 5 seconds for the added blood supply to reach the precise section of the brain, and this is considered a drawback of the fMRI technology for marketing research purposes. Another shortcoming is the fact the gear used is very expensive, so as hiring an expert who would skillfully make use of it and interpret the results. Using fMRI is impractical because only 1 person at the same time could be examined, and he must stay still for the whole session if not it can render test results pointless. (zurawicki 2010, pradeep 2010)

In order to understand how our brains process and react to the aspects of marketing, Pradeep (2010) clarified that people need metric tools to take action. The main NeuroMetrics measure attention, emotional proposal, and memory space. Attention can be an essential function of the mind. We never know when we will focus on something; therefore we often don't know what stimulates us to get started attending to except by using a brain-based NeuroMetric. Exactly like attention, emotional engagement can fade over time. Although our conscious awareness of feelings feels regular, at a subconscious level our brains are continually renewing our mental engagement with the surrounding world. Recollection is one of the very most thoroughly studied aspects of the brain doing his thing. The mechanisms and frameworks where the brain engages in both memory encoding and memory retrieval have been closely mapped and analyzed. These memory steps produce continuous and measurable brainwave patterns that show when storage processing is effective.

According to Pradeep (2010) Initial & most significant and complex reactions to stimuli are formed in the brain. To be more specific, elements that are essential to marketing success are made in the subconscious level of the brain and stay there.

One of a marketer's careers is to determine what customers want and need to buy. Understanding the mind and applying neuro-based tools assists with improving products and creating more affective advertisements.

Maden (2010) mentioned that in neuromarketing, two methods are used in evaluating an individual's choice between products. These procedures are brand familiarity and product desire.

Brand familiarity

Brand familiarity is the evaluation between familiar and new products. Consumers feel negative doubt towards unfamiliar brands when they first appear in advertisements. However, if the advertising campaign message is repeated at low levels, then it would decrease the uncertainty and increase the effectiveness. Advertisements should not be repeated too much though, as repeated exposures annoy the audience and would lead to a reduction in the potency of the advertisements. If the merchandise had been familiar, repeated vulnerability would allow the buyer to process the advert and their associated encounters from using the product. For unfamiliar brands, there would be less knowledge to process which causes the buyer to get bored to death or even irritated. New brands need to be conservative in their marketing attempts, they ought to make consumers acknowledge their brand but at exactly the same time they shouldn't exaggerate.

Product preference

Product inclination is the comparability between two known products or brands. Desire for just one product in the other is mainly scheduled to personal encounters as well as the cultural background or that the preferred product shows more reinforcing attributes. As an example, McClure et al. (2004) completed an test using neuromarketing techniques in order to figure out the choices of consumers towards Pepsi or Coca-Cola. The test of consumers was asked about their choice among these two options and almost all of them said that they preferred Coke. However, when they tasted both drinks without knowing which is which, almost all decided to go with Pepsi.

Even though neuromarketing is mainly found in creating commercials, Dragolea and Cotrlea (2011) think that neuromarketing is not limited on that; maybe it's used in presentation or even shelf display. Besides that, neuromarketing plays an important role in producing new products and rebranding.

Ethics

Despite the attractive applications of neuromarketing, there are many ethical and questionable problems with respect to this new emerging notion. Fisher et al. (2010) feared that neuromarketing might threaten individual independence by effectively manipulating consumer behaviours. There were also concerns that advertisers would find a "buy button" in the brain that would control what the buyer buys. Another ethical issue increased by Lee et al. (2007) is the fact consumers may be harmed by constantly being exposed to market with purchase addictions and overconsumption. Presently, the express of imaging technology will not give us correct predictions of real human decision making, therefore these problems are premature. Based on my personal opinion, I believe that neuromarketing should be considered as a go with to traditional marketing techniques rather than being the key emphasis of marketers and experts and this is as a result of huge consequences that could result. For example, only rich companies can use neuromarketing because contracting with treatment centers that contain experts who focus on brain scanners is very costly. If the results were appropriate plus they were actually able to benefit from it, then which means that they will change consumers into buying their own products and forcing smaller businesses to look bankrupt and leave the market. This may have a huge influence on the economy, the rich will become richer and the poor will become poorer.

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