Thursday, October 21, 2010

XLRI lab to map marketing future

From The Telegraph

Jamshedpur, Oct. 19: XLRI inaugurated its behavioural marketing research lab today and organised a panel discussion — Maxi Mindscapes — to peek into the pros and cons of neuroscience marketing.

The lab, the first of its kind in the country, will delve deeper into people’s minds to know the emotional reasons influencing consumer choices.

The panel discussion comprised of experts from various fields who explained the applications of neuroscience marketing. The meet was aimed at framing a roadmap for the institute and understanding the merits and limitations of the application. The initiative has already got the nod of XLRI director Father E. Abraham.

“XLRI has always been a pioneer in innovations. I hope the initiative will set higher benchmark in knowledge,” said Father E. Abraham.

Planned by Marketing Association of XLRI (Maxi), the laboratory will work on the behavioural patterns of consumers. “We are ready and will start work as soon as we get projects,” said Maxi secretary Vinayak Mehta

Neuroscience plays a revolutionary role in research and marketing. When used with established research techniques, neuroscience-based research can add powerful new insights. By employing techniques of eye tracking, brainwave measurement, et al, marketers might get a whole lot of hitherto unknown information.

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