Does neuromarketing inhibit innovation?
Neuromarketing uses a variety of technologies and techniques to get a more accurate picture of consumer behavior. Techniques used include the use of electroencephalography (EEG), functional magnetic resonance imaging combined with heart rate, eye tracking, and more. Meaning that through these means, people's subconscious mind can be harnessed to influence their consumer behavior and thoughts. For example, packaged water companies can use neuromarketing to make their advertisements become mind-altering and stand out from a group of products that make almost no difference. Additional examples include neuromarketing to get people to accept new products, such as scrub daddy's sponges, which can stand out in a market full of competing products through smiley-face innuendo and precisely tuned promotional videos.
But neuromarketing may inhibit innovation when it is widely used. When similar products appear on the market, companies may choose to spend their budget on marketing rather than actually developing new features and products. And new products may be discontinued after undergoing neuromarketing research because they won't meet the company's expectations. And these could have been implemented innovations.
How much does neuromarketing inhibit innovation? Do we need to worry about its application?
reference
https://builtin.com/articles/neuromarketing
https://www.neuro-insight.com/what-is-neuromarketing/
https://www.the-future-of-commerce.com/2020/01/08/neuromarketing-definition/