Neuromarketing and Financial Decision Making

Abstract

Neuromarketing itself represents an application of neuroscience to marketing, guiding the very neural and emotional mechanisms of consumer behavior and providing important insights into financial decision-making. EEG and functional magnetic resonance imaging are two techniques researchers use to trace the ways in which financial stimuli, including investment options, risk assessments, and financial product advertisements, activate different regions of the brain. This paper is aimed at analyzing the role of emotional and neurological processes in financial decision-making. This research found out that consumers are likely to engage and trust if the financial commercials and product presentations arouse positive emotional responses. These findings mean that through the use of neuromarketing concepts in marketing and product development plans, financial institutions would increase the confidence and engagement of customers in their services and bring about more efficient and client-oriented financial services.