Guest lecture on neuromarketing at Loyola Institute of Business Administration

On October 15, 2013 Loyola Institute of Business Administration, Chennai, had a session on neuromarketing by the guest lecturer Mr Sudio Sudarsan who hails from Hault International Business School and is a renewed Strategist, author, and academician.

It was a great learning experience for LIBA students. Mr. Sudio Sudarsan's hold on the subject and style of delivery was impressive. He has been doing research in the field and kept the students elude with his experiences and findings.

Neuromarketing is a new field of marketing research which involves neural response of the customers to product stimuli. It involves detailed study of human brain and its reaction in different circumstances. Neuromarketing aims at positioning the brand in consumers mind such that the brand becomes the obvious choice of the customers. The subject also deals with consumers' perception of consumers for different products. Apart from the core product there are many facts that decide the sales of a product.

According to Mr. Sudio Sudarsan, it is possible to embed the value of product in the consumers mind by using strategies of neuromarketing. He also shared a video from his research which involved marketing water brands in USA. He created few hypothetical brands with attractive logos and well designed bottles. The bottles were filled with tap water. The same were served to customers in a restaurant and were asked to rate the water according to taste. To our surprise, customers not only praised the water quality but also gave different rating to those bottles based on their content and taste; they also expressed interest to use the same brand in future.

Later it was fun watching their expressions when they were informed that bottles contained water from same tap and had no difference at all. There were many such examples which proved the potential of neuromarketing. Overall it aroused curiosity among students with its effectiveness.

Source: Sarvesh Nandan, click4college Specialist