SUBCONSCIOUS RESPONSE ON MARKETING MIX FOR GREEN AND NON-GREEN GOODS: A NEUROMARKETING STUDY

Abstract

The centre of an organisation is marketing, and the primary purpose of marketing is to get the goods to the target market. The most critical characteristics are typical product features such as product, price, promotion and place when customers consider when making a purchasing decision. One of the key reasons for any marketing campaign failure is unable to grasp the decision-making process that takes place in the subconscious minds of customers. Thus, by attracting just 10% of the brain that drives the choices of customers, advertisers waste much of their budget. As a result of the issue, important developments in neuroscience have led to the emergence of neuromarketing in the last few decades, providing a better understanding of how subconscious minds respond in everyday situations, especially in marketing activities. Electroencephalograms (EEG) was used in this research to investigate the subconscious minds of customers against the key component of the marketing mix during the decision-making process. In order to take part in the research, a laboratory experiment employed 31 volunteers. The findings showed that the main characteristics that consumers consider in decision-making when buying green goods are price and promotion components. Neuromarketing is thus able to validate, reconfigure, and reinforce traditional marketing theories. This evidence provides advertisers with a new marketing opportunity to improvise their marketing strategies and thereby improve their growth in profit.