Neuromarketing: a highly effective tool for positioning a new product

Abstract

The purpose of this research was to use Neuromarketing perspectives to design strategies for each part of the marketing mix in the development and positioning of a mass consumption product. Since this was an in-field exploratory research, it was conducted using a qualitative and phenomenological approach. The data was collected using the ZMET and the sample consisted of 20 participants aged from 20 to 69 and all of them residents of the two parishes of the Sabana de Mendoza City, located in the State of Trujillo, Venezuela. Findings show that the main reasons behind buying decisions are some unconscious psycho-emotional elements, as well as some characteristics of the product such as place or distribution, price and promotion. It also proved that Neuromarketing is a reliable and precise state-of-the-art tool for the marketing industry, since it provides marketers with a profound understanding of the psychological-emotional unconscious processes of clients and consumers, making it effective for positioning new products. It also proves that Neuromarketing can be used in SMEs within the country in spite of its socioeconomic limitations.