User:Ampitup/sandbox

This is a test of the sandbox for user ampitup Neurobranding Neurobranding is a new term most prominently put forward in the self-published book, “Neurobranding,”[1] by Dr. Peter Steidl[1] in which the author attempts to apply the brain research insights of neuromarketing and neuroeconomics to address marketing challenges and develop brand strategy. Contents •	1 Method •	2 Scientific Background •	3 Industry Growth •	4 Ethical Considerations •	5 References •	6 See Also Method Neuromarketing uses brain-imaging technology to measure cognitive, affective and sensory-motor response to stimuli and reveal preferences for market research. It’s cousin, Neuroeconomics uses event-related fMRI to understand how people act upon those preferences to make purchasing decisions. The author claims that traditional marketing criteria do not reflect how consumers actually think and that focus groups and interview methods can be supplemented by neuroscience based research that can explore the territory inside the consumer’s mind. Neurobranding extends the concepts about effective advertising laid out in Martin Lindstrom's bestselling book, Buyology – Truth and Lies About Why We Buy[2] to the lexicon of day-to-day marketing practice. The book is targeted towards marketing professionals and avoids medical and neuroscience terminology. For example, rather than point to specific regions of the brain, such as the limbic system or the neocortex, the author prefers to use terms such as the “old” and “new brain or the “habitual “ and “executive brain.” Scientific Background The “old brain” and “new brain” also relate to a Dual Process Theory that consists of an implicit (automatic), unconscious process and an explicit (controlled), conscious process. Daniel Kahneman, who won a Nobel Memorial Prize in Economic Sciences in 2002 for his work with Amos Tversky on decision theory, later delineated this Dual Process Theory as System 1 and System 2, as a way to differentiate the two styles of processing, calling them intuition and reasoning. Intuition (or system 1), similar to associative reasoning, was determined to be fast and automatic, usually with strong emotional bonds included in the reasoning process. In 2003, Vinod Goel[2], Professor of Psychology at York Unversity[3]in Toronto, produced neuropsychological evidence for dual-process accounts of reasoning using fMRI studies[3]. This team provided evidence that anatomically distinct parts of the brain were responsible for the two different kinds of reasoning. They proved that content-based reasoning caused left temporal hemisphere activation whereas abstract formal problem reasoning activated the parietal system. In related studies, Alan Sanfey introduced mathematical models that attempt to approximate decision-making, SEUT (Subjective Expected Utility Theory).[4] And by analyzing subjects making choices through a simulated shopping experience (Knutson, Rick, Wimmer, Prelec and Lowenstein, 2007) focused on how people made purchasing decisions based on pre-established preferences.[5] This means that we can potentially not only decompose the components that go into decision-making but also help to build neuroeconomic models that predict choice and inform policy. (Knutson, et al.,2007). Industry Growth The field of neuromarketing is growing steadily with new agencies on the rise, such as [Nielsen Holdings]’s Neurofocus[4], Innerscope Research[5], Neuro-insight[www.neuro-insight.com] and Salesbrain[www.salesbrain.com], the latter of which offers a map of the brain and addresses 3 regions of specific interest to marketers. Paul Zak, a professor of economics, psychology and management at Claremont Graduate University, founding director of the Center for Neuroeconomics Studies[6], says that neuroscience opens the “black box” behind economic decisions (and cognitive psychology) to reveal why people are doing what they are doing and that “knowing why we do what we do” is the first step to improved decision-making and claims that this is exactly the promise of neuroeconomics[6]. Ethical Considerations A larger issue is what and how much neuroscience may be used to direct decision-making. Marketing ethics are often put into question even through conventional marketing practice, but there is much larger debate as to whether it is ethical to bypass a human’s initial implicit processes before higher cognitive reasoning is activated, especially when marketing to children, an issue addressed by Agnes Nairn and Cordelia Fine in their article, “Who’s Messing with my Mind.”[7] The Neuromakreting Science and Business Association[8] was developed to share knowledge of neuromarketing research data and univocal interpretation of new data, develop standards and guidelines to protect general related social interests and created a code of ethics[9] for the discipline. This new thinking about the use of neuroscience insights for economic purposes calls into question economic theory previously put forth in the bestselling business books of the past decade, such as “Freakonomics”[10] which reduced complex scenarios to simple explanations supported by basic economic thinking. Cutting edge insights from neuromarketing research may be providing a more nuanced understanding of human and consumer behavior, a sort of “neurofreakenomics” that holds promise for the field of marketing, but is still in a nascent stage of consumer oversight and protection. References 1.	Jump up ^ Steidl,Peter,(2012) Neurobranding, CreateSpace Independent Publishing Platform 2.	Jump up ^ Lindstrom, Martin, (2010), Buyology: Truth and Lies About What We Buy, New York, Crown Publishing, Random House paperback edition 3.	Jump up ^ Goel, V.; Dolan, R. (2003). "Explaining modulation of reasoning by belief". Cognition 87 (1): B11–B22. 4.	Jump up ^ Sanfey, A. G. (2007). Decision Neuroscience: New Directions in Studies of Judgment and Decision Making. Current Directions in Psychological Science, 16(3), 151-155. doi: 10.1111/j.1467-8721.2007.00494.x 5.	Jump up ^ Knutson, B., Rick, S., Wimmer, E. G., Prelec, D., & Loewenstein, G. (2007). Neural predictors of purchases. Neuron, 53, 147-156. 6.	Jump up ^ Dubner, Stephen J., (2010), Freakenomics.com, Is there a “Moral Molecule? A Guest Post From Neuroeconomist Paul Zak retrieved from freakonomics.com/2010/05/03/is-there-a-moral-molecule-a-guest-post-from-neuroeconomist-paul-zak/ 7.	Jump up ^ Nairn, A., & Fine, C. (2008). Who's messing with my mind? The implications of dual-process models for the ethics of advertising to children. International Journal of Advertising, 27(3), 447-470 8.	Jump up ^ http://www.nmsba.com 9.	Jump up ^ http://www.neuromarketing-association.com/ethics 10.	Jump up ^ Leavitt, Steven D, Dubner, Stephen J., (2006) Freakonomics [Revised and Expanded]: A Rogue Economist Explores the Hidden Side of Everything, William Morrow; Revised & Expand, Roughcut edition See Also • Neuromarketing • Neuroeconomics • Dual Process •Decision Theory• Marketing Ethics Categories: Behavioral Economics Business books Marketing books Non-fiction books about advertising American non-fiction books External links •	Author’s official website http://petersteidl.com/ •	Neuromarketing Science and Business Association (NMSBA) http://www.nmsba.com •	www.salesbrain.com •	http://www.nielsen.com/us/en/nielsen-solutions/nielsen-measurement/consumer-neuroscience.html •	www.neuro-insight.com/ •	http://innerscoperesearch.com Additional References

Gazzaniga M. S., I. R. B., Mangun G. R. (2009). Cognitive neuroscience: the biology of the mind (Third Edition ed.). New York, NY: W. W. Norton & Company. Zurawicki, L. (2010). Neuromarketing. New York: Springer. Methods in Social Neuroscience. (2009). New York: The Guilford Press. Genco, Stephen, Pohlmann, Andrew Sndrew, Steidl, Peter, (2013) Neuromarketing for Dummies, or Dummies; 1 edition