EFFECT OF NEURO MARKETING:

BEVERAGES’ PREFERENCES
AMONGST PEOPLE OF DHAKA
CITY

Submitted To
SM Feroj Mahmood
Lecturer
Department of Business Administration
Notre Dame University Bangladesh

Submitted By
Group-Falcon

Date: 3rd of December, 2017

 1

Letter of Transmittal
3rd of December, 2017
SM Feroj Mahmood
Lecturer
Department of Business Administration
Notre Dame University Bangladesh

Subject: Submission of assignment on “Effect of Neuro-marketing: Beverages’

Preferences amongst People of Dhaka City”

Honorable Faculty,
With due respect we, the students of BBA 4th (B) batch have reported on “Effect of Neuro-
marketing: Beverages’ Preferences amongst People of Dhaka City”. We have tried our best
to furnish the report with relevant data.
Though we are in learning curve, this report has enabled us to gain insight into the core
fact of neuro-marketing. So it becomes as an interesting experience. Thank You for your
supportive consideration. Without your inspiration this report would have been an
incomplete one.
Lastly, we would be thank you once again if you please give your judicious advice on
effort.

Sincerely
Ronald Samson Datta (4-15010201)
Byezid Limon (4-15010205)
Mushidur Rahman (4-15010208)
Fahmida Ferdous Etu (4-15010211)
Edward Wilson Mollah (4-15010222)
Shapna Moni (4-15010228)
 2

Acknowledgement
Praise to the Almighty, the creator and sustainer who have given me strength and
opportunity to complete the Report on “Effect of Neuro-marketing: Beverages’ Preferences
amongst People of Dhaka City”. First of all we would like to thank our Honorable Faculty
SM Feroj Mahmood, we are grateful to him for giving us this slot of opportunity to
complete the assigned report.
We are very much grateful to our group member for their effort. Without their help it was
not possible to complete this report.

Group Name: Falcon

Group Combines:

Ronald Samson Datta (4-15010201)

Byezid Limon (4-15010205)
Mushidur Rahman (4-15010208)
Fahmida Ferdous Etu (4-15010211)
Edward Wilson Mollah (4-15010222)
Shapna Moni (4-15010228)

Department : Business Administration

Batch :4 Group: B

Course Title : Business Research and Methodology

 3

Abstract

In recent years, the emerging field of neuromarketing, which makes use of brain research
in a managerial context, has gained increasing popularity in the academic literature as well
as the practical world. Therefore, the purpose of the present paper is to evaluate upon the
influence of neuromarketing on consumers’ beverages consumption behavior amongst
People of Dhaka City”

The increased use of neuromarketing techniques for the evaluation of customer preferences
and decision-making processes is considered to be an advantage for customers and
marketers simultaneously. EEG, fMRI and MEG rank among the most appropriate
technicalities in the area of neuroscience. Neuromarketing is associated to have a high
influence on consumer buying behaviour, advertising, pricing, branding and decision-
making as marketing inputs.

Through our observation and experiment, we found that most of the people care about price
and brand while consuming beverages. Very less people care about different taste and
quantity. The most influential factor is availability. Different situation effects consumer on
their consumption behaviour. So, in the context of our country, factors which influence our
consumer are availability, brand and price.

Therefore, the beverage companies may apply neuromarketing techniques on branding and
pricing to influence consumers’ buying behaviour in their favour.
 4

Table of Contents
1. Introduction ....................................................................................................................................... 5
2. Objective of the study ................................................................................................................... 5
3. Literature Review ........................................................................................................................... 6
4. Methodology ...................................................................................................................................... 7
5. Neuro-marketing techniques ...................................................................................................... 8
5.1. Outside reflexes ................................................................................................................................. 8
5.1.1. Body language ........................................................................................................................... 8
5.1.2. Empathic design ........................................................................................................................ 9
5.1.3. Facial coding .............................................................................................................................. 9
5.1.4. Eye tracking ............................................................................................................................... 9
5.2. Inside reflexes .................................................................................................................................. 10
5.2.1. EEG .......................................................................................................................................... 10
5.2.2. FMRI ........................................................................................................................................ 10
5.2.3. MEG ......................................................................................................................................... 11
6. NEUROMARKETINGS INFLUENCE ON RESPECTIVE MARKETING INPUTS ................................... 12
6.1. Neuro-marketing on Consumer Buying Behaviour ......................................................................... 12
6.2. Neuro-marketing on Advertising ..................................................................................................... 12
6.3. Neuro-marketing on Pricing............................................................................................................. 13
6.4. Neuro-marketing on Branding ......................................................................................................... 13
6.5. Neuro-marketing on Product Design ............................................................................................... 14
7. Analysis and Interpretation ................................................................................................... 16
8. Recommendation.............................................................................................................................. 17
9. Limitations &Conclusion .............................................................................................................. 18
10. Appendix........................................................................................................................................... 19
Observation ........................................................................................................................................... 19
Research Methodology Questionnaire ................................................................................................ 20
 5

1. Introduction
By means of neuro-marketing, several commercial effectiveness indicators can be
measured. They are: emotional engagement, memory retention, purchase intention,
novelty, awareness and attention. We make decisions based on our emotions. The
emotional engagement level is only one accurate indicator of the way in which we respond
to certain marketing stimuli and it can also help predict making the purchase decision. The
marketing stimuli encoding level can influence the moment when we decide to buy a
certain product.
A high level of emotional engagement and a high level of encoding process activation can
predict the purchase intention. The purchase intention appears as a result of the
effectiveness of the marketing stimulus, which proved to be persuasive enough to generate
this intention. The innovation level of a marketing stimulus can ensure the success of a
commercials campaign.
Innovation is capable of increasing the attractiveness of a marketing stimulus, thus
contributing to the purchase decision. A clear formulation and a good understanding of the
message may predict the success or effectiveness of the commercial. The retention capacity
will increase once the attention and emotion mechanism are being engaged (Pradeep,
2010).
At present, neuro-marketing provides information which cannot be retrieved by means of
classical marketing. The most obvious advantage neuroimaging techniques provide is
related to the fact that these techniques which harvest quantitative data may also be used
before launching a new product, thus increasing the chances of success for that particular
launching.
Neuro-marketing offers new approaches those, including into other methodologies, in
various marketing segments may enlarge the outcome of marketing strategies, as well may
lead to very interesting effects. Business organisations can adopt and apply neuroimaging
techniques in their marketing research to develop the product, selecting channels, products
pricing-packaging, communication decision etc.

2. Objective of the study

Understand the consumer neurology on purchasing beverages in Dhaka city. Find out the
factor that affect consumer neurology. For example: Price, Advertisement, Packaging,
design or it may be the colour of the product. Finding out the factor that are most common
to the consumers and the main factor influencing neurology.
 6

3. Literature Review

To compete with the increased change in global environment of business, market-driven

strategies are required mostly which are responsive and reactive to consumers need and
want. As a result, marketers are concentrating more on identification and satisfaction of
consumers’ needs and wants. Since consumers have become more opulent as well as
sophisticated, marketers would require enriched information about consumers are how
much to the product and to other market-offerings. So that marketers are trying to use new
technology/ techniques to improve their marketing performance. One of the popular
techniques among the largest MNC’s are the “Neuro Marketing”, an approach based on
neuroscience. Neuro marketing aims at mapping brain pattern and provide information
about more direct way to human decision making.
According to Senior and Lee (2008), neuro-marketing is the composition of the marketing
research domain based on social, psychology, econometrics and social sciences that
represents neuro-marketing as the convergence between neuroscience, experimental
psychology and experimental economics. According to Garcia & Saad(2008) and
Hubert & Kenning (2008) associate neuro-marketing with the sciences of consumer
behaviour and cognitive neuroscience, i.e., consumer behavioural sciences and
neurobiology, respectively.
Some authors report neuro- marketing as a way of revealing the cognitive emotional
processes (fear, motivation, recognition, well-being and reward) underlying human
conscience (Lee et al., 2007; Murphy et al., 2008 and Butler,2008). Fugate (2007)
asserts that neuro-marketing travels between the emotional and rational parts of the person
and that it is a technique that makes it possible to show that the physical and the
psychological are co-dependent through images that record the rational and emotional
responses to marketing stimuli.
 7

4. Methodology
This research has been conducted in two stages.
The first step has covered a search for introductory information about the theme in various
sources like blogs, literature review, articles, and journals on internet and websites of
neuro-marketing companies. In a word we will look for the secondary data available in
various sources.
And the second step has been completed through collecting primary data and analysing it
with the help of close ended questionnaire. We have collected primary data by observing,
and experimenting on people.
For data analysis we use the statistical software IBM SPSS and analyse our data in a
orderly form that helps us to reach in a conclusion.
In order to identify the influence of neuromarketing on the marketing input tools, the
present paper systematically analyzes numerous relevant scientific literatures and journals
concerning the topic of neuromarketing, its mechanisms, namely outside reflexes and
inside reflexes, and its influence on the key marketing inputs.
The raw data of the literature review has been mainly gathered by making use of electronic
search engines like Google, Wikipedia , online library, journals etc.
 8

5. Neuro-marketing techniques
The various methods available in this field range from Body Language, Facial Coding,
Empathic design, Eye tracking, over fMRI, EEG, MEG to galvanic skin conductance and
heart rate (Calvert, & Brammer, 2012), with the most advanced being EEG
(Electroencephalography) and fMRI (functional Magnetic Resonance Imaging) brain
imaging (Kumlehn, 2011). These technicalities are methods expected to offer an inside
view into the black box, which is the brain (Kenning et al., 2007).

The primary reason for making use of these more established methods is that the data can
be captured without conscious manipulation by respondents, while at the same time being
able to record the unconscious processes taking place in the human body. Therefore,
neuromarketing measures can be a supplement to the self-report measures.
However, one always has to keep in mind that neuromarketing measurements mostly take
place in an artificial environment instead of an accustomed surrounding, which might bias
the test results (Dimoka, Banker, Benbasat, Davis, Dennis, Gefen, & Weber, 2012).

5.1. Outside reflexes

The collection of different methods which already exist for a longer time period, namely
body language, empathic design, facial coding and eye tracking, all together fall under the
topic of outside reflexes. Since the technology was not that advanced earlier, these methods
were the most appropriate in former times in order to collect information about the brain.
Specifically, these methods do not look at the inside activities of the brain, but perceive the
outside reflexes which have their origin in the brain, without considering the statements of
the observed people about certain things. These so called "outside reflexes" are simply
observable when one concentrates on them.

5.1.1. Body language

Outside reflexes are activities originated in the body, which are hardly suppressible and
basically reflect persons ‘emotions. Body language, as a form of nonverbal
communication, can be expressed in form of conscious or unconscious ways, specifically
in gestures, mimic, posture and other body movements. It is considered to have a key
impact on the actual statement being made. Obviously, in order to analyse body language,
no devices are necessary and therewith the procedure is extremely simplified (Postma,
2012).
 9

5.1.2. Empathic design

Another method where human beings are being analyzed without making use of any
devices is called 'empathic design'. The meaning of the word 'empathic' can be also referred
to as sensitive. Within this method, observation is made in the consumer‘s own
environment so that it can take place in the normal course of daily routine (Postma, 2012;
Leonard, & Rayport, 1997).

In practical terms, it is essential that the observer does not make any remarks or comments,
but only silently and sensibly observes how the test person uses the product in a natural
environment. This procedure, where it is expected to get more information by gathering,
analyzing, applying and observing instead of directly asking a person, is called the direct-
marketing-principle (Postma, 2012; Leonard, & Rayport, 1997).

5.1.3. Facial coding

Facial coding is a specialized form of body language where facial expressions are
systematized and coupled to emotions of a human being. An important researcher of this
method is Dan Hill, who established 24 combinations of muscle movements, which can be
traced back to seven basic emotions. The method is said to be universally applicable since
researcher Darwin found out that people from different nations actually have the same
inherent facial expressions.

In practical terms, test persons are basically confronted with the stimulus while at the same
time their facial expression is determined, interpreted and analyzed. During that procedure,
the test person is aware of the fact that he/she is being observed (Postma, 2012).

5.1.4. Eye tracking

The final form of the outside reflexes is the eye tracking method giving inside information
about internal brain activity that is a non-suppressible reflex. Nowadays, the entire eye
tracking process is computer-controlled, and there with the range of possibilities is
enlarged. The method is relatively easy to apply to commercials, mailings, webpages and
online games, since with these things it is easy to track what a person actually sees and to
which things he/she pays special attention. The chronological order in which things are
being looked at can be determined as well.
 10

5.2. Inside reflexes

The "Inside reflexes" approach drags in technological advanced methods originally

developed for the medical area. By making use of this approach, one is looking inside the
brain self. This is done properly by using EEG or fMRI-scans.

Neuro-marketing in inside reflexes is about advertising, packaging, and association with

brands. No one is being asked to actually make a purchase, but can be determined what a
person experiences during an advertisement and if the desire can be determined
neurologically. (Postma, 2012).

5.2.1. EEG

EEG is the abbreviation for Electroencephalography, which means an electrical

reproduction of brain activity (Postma, 2012). EEG method is considered to be an
appropriate way to measure changes in the electrical field in certain brain regions (Ariely,
& Berns, 2010; Morin, 2011; Camerer, Loewenstein, & Prelec, 2004; Madan, 2010).

It makes use of numerous electrodes attached to the skull that recognize electronic signals
which represent current brain activity (Postma, 2012; Morin, 2012; Ariely, & Berns, 2010;
Madan, 2010). Usually a short period recording of approximately 20 to 40 minutes can be
made. The responsible cells for all our cognitive responses are called neurons. Therefrom,
every human being has more than 100 billion at its command, which are interconnected
with trillions of synapses (Morin, 2011). These neurons have relatively long extensions
where electricity runs through.

Therefore, if a certain stimulus like advertising is presented, neurons fire some electric
current that can be perceived by the EEG (Morin, 2011). In practical terms, a researcher
can simply put on the electrodes attached to a helmet or cap on a person‘s head, and then
present certain products or services from which the attractiveness in form of brain activity
can ultimately be measured and recorded (Morin, 2011; Postma, 2012).

An advantage of the method is that EEG is very precise in regard to timing since its
temporal resolution is in milliseconds. Therewith, short neural activity can be easily
detected (Ariely, & Berns, 2010; Camerer, Loewenstein, & Prelec, 2004). An effective
method can be also to combine the EEG method with the eye tracking method, since then
brain activities can be recorded more specifically (Postma, 2012).

5.2.2. FMRI

The term MRI stands for 'magnetic resonance imaging' and basically describes a tool,
which makes an anatomic representation of the brain by making use of magnets (Postma,
 11

2012). An MRI scanner is used to measure the blood oxygen level, which can give an
indication of increased brain activity in certain regions (Ariely, & Berns, 2010).

The measurement works as follows: The magnetic field is able to recognize the blood
oxygen content in the brain. Therefore, if neural activity in a certain brain area is increasing,
the oxygen-rich blood increases too because oxygen is required by the brain to work.

If a stimulus is presented to a person, the fMRI method is able to recognize an increase in

oxygen-rich blood in certain regions, which indicates increased activity in a certain brain
region (Postma, 2012; Camerer, Loewenstein, & Prelec, 2004). Due to the fact that
oxygenated blood has distinct magnetic waves compared to deoxygenated blood, this
difference can be picked up in form of a signal by the fMRI scanner (Camerer,
Loewenstein, & Prelec, 2004)

In practice, the observed person is lying in some kind of tunnel where the head and the
brain are positioned in a magnetic field. As already mentioned in regard to EEG, if it is
known which brain activities are responsible for which functions, explicit statements about
brain activity can be made.

An fMRI brain scanner costs approximately $US 2.5 million to buy, and approximately
$US 1000 to rent per hour (Eser, Isin, & Tolon, 2011). Furthermore, Moore (2005) states
that an average neuromarketing study with an fMRI costs between $94,000 and $188,000,
which is only somewhat more expensive than conventional methods.

5.2.3. MEG

The Magneto encephalography is a similar non-invasive procedure in order to investigate

neural activity. During the past years this procedure also gained increasingly more attention
and is closely related to the EEG method. While the method of EEG conducts the local
voltage fluctuations on the scalp, the MEG captures the magnetic fields of neural activity.

This method is frequently used in the neurosurgery since it enables the identification of
recreation processes after injuries, and therewith the success of treatment. In the practical
measurement, highly sensitive SQUID-detectors are used, while actions are being taken to
eliminate fields of interference (Braun, 2007). Spectrums of sensors, which are shaped like
cylinder, monitor the magnetic field of the test-persons skull. Therewith, the location and
intensity of brain activity in different regions can be determined (Miller, Bentsen,
Clendenning, Harris, & Speert, 2008). Although the methods of MEG and EEG both have
excellent time resolution, MEG has a better spatial resolution than the EEG method (Morin,
2011). Nevertheless, one should still keep in mind that this technology, as well as the EEG
and the fMRI technology, are very cost intensive (Morin, 2011)
 12

6. NEUROMARKETINGS INFLUENCE ON RESPECTIVE

MARKETING INPUTS

6.1. Neuro-marketing on Consumer Buying Behaviour

Beginning with the influence of neuromarketing on the marketing tool Consumer Buying
behavior, the following statements can be made.

It is significant that consumers are mostly not able to phrase their desires and needs when
asked explicitly, which is why it is assumed that the brain itself encloses internal
information, which could elucidate true desires and needs. If this knowledge would be
available, the buying behaviour of people could most likely be influenced and the
disadvantage in regard to the cost aspect of neuromarketing aspects would be outweighed
by the advantage of the internal information delivered (Ariely, & Berns, 2010).

Therefore, neuro-marketing techniques are a perfect opportunity (Kenning et al., 2007). As

stated by Eser, Isin and Tolon (2011), ―neuro-marketing uses the latest advances in brain
scanning to learn more about the mental processes behind customer purchasing decisions‖
(p.854).

Finally, one can say that neuro-marketing methods in general, and especially in regard to
consumer buying behaviour, can measure significant influences, and its results can be used
as a template for future analysis or product development (Wilson, Gaines, & Hill, 2008).

6.2. Neuro-marketing on Advertising

A recent study by Kenning and Linzmajer (2011) elaborated upon the attractiveness of an
advertisement and its correlated activation of brain areas. By making use of neuro-
marketing tools, they figured out that more attractive advertisements activate the
ventromedial prefrontal cortex and the ventral striatum, which are responsible for emotions
in the decision making process and the cognition of rewards.

These brain regions were not activated when a less attractive advertisement was presented.
This indicates that by making use of neuromarketing techniques, it is possible to find out
if an advertisement is perceived to be attractive or not, and therewith figure out its
effectiveness. Furthermore, in their study, it was detected that advertisements were
increasingly remembered if they were either very attractive or very unattractive.
Additionally, positive facial expressions are crucial and highly necessary in order to
produce an advertisement, which is attractive to consumers (Kenning, & Linzmajer, 2011).
 13

In relatively mature studies from Ambler and Burne (1999) and Ambler et al. (2000),
results showed that the presentation of emotional images in advertisements are also
indicators which support the remembering process of advertisements.

However, taking all the presented information into account, we suggest that
neuromarketing can have an effective and positive influence on advertising when applied
properly.

When presenting an advertisement to a test person and applying neuromarketing techniques

such as fMRI or EEG, it is very realistic to end up with information indicating if an
advertisement is appealing or not. Although by making use of this method it is not able to
determine for certain if a consumer will make the buying decision, one can try to make
advertisements as attractive as possible by making use of neuromarketing techniques and
therewith enhancing the buying decision in a positive way.

Concluding, one can say that if advertisers have the power to determine which images
cause which responses in the medial prefrontal cortex, it should enable advertisers to
increase sales by making use of this method (Cranston, 2004).

6.3. Neuro-marketing on Pricing

Price is an important indicator in regard to the decision-making process because in a

decision, mostly, costs are evaluated against benefits (Lee, Broderick, & Chamberlain,
2007). Therefore, it can also be the case that consumers are being misled by higher prices
since they simply expect higher quality, although this might not always be the case
(Kenning, & Linzmajer, 2011).

In order to set prices of products appropriately, it is helpful to know their ―willingness to

pay, which means the maximum price that a consumer is ready to invest in exchange for a
certain product or service (Simon, & Dolan, 1998).

Neuro-marketing techniques can be very helpful in order to determine consumers‘

willingness to pay and marketers can, upon that, adjust prices accordingly. Confronting test
persons with products and a choice of different prices can do this. One can then ask which
of the presented prices would represent the maximum willingness to pay and analyze the
brain activities going on in addition.

6.4. Neuro-marketing on Branding

In the following, the influence of neuro-marketing on branding will be considered. First of

all it is important to remember that branding and loyalty of consumers to their preferred
 14

brands is interconnected with intense emotions in the decision making process compared
to other brands. Customers are likely to act loyal to their preferred brand. Specifically, the
study by Bechara and Damasio (2005) showed that only the most favourite brand could
generate emotions that can influence the decision-making process, which is called the
―winner-take-all effect (Bechara and Damasio, 2005).

Since this branding issue has tremendous effects on the final decision making of a
consumer and can highly influence it although qualitative or price issues might be worse
than with neutral brands, it can be advised to intensify the application of neuromarketing
methods to the branding in order to improve and perfect the representation of a certain
brand. All in all, neural activity can be applied in regard to brand familiarity and product
preference (McClure et al., 2004; Schaefer, Berens, Heinze, & Rotte, 2006; Walter, Abler,
Ciaramidaro, & Erk, 2005).

Hubert and Kenning (2008) argue that brands can operate as intuitive and hidden
apprehensions that have an effect on the decision-making process although the test persons
even started to think about the strengths and weaknesses of a product.

6.5. Neuro-marketing on Product Design

The design of a product and its presentation in a store or by packaging are first images
which consumers perceive. Therefore, the design of a product itself as well as its
representation should be considered carefully and developed in detail.

Since neuro-marketing tools like fMRI and EEG can specifically detect which brain
regions are activated in certain points of time, these tools are seen to be highly useful when
thinking about the product design. Several different designs of products can be presented
to a consumer and the brain can analyse which of these products ensures the most positive
effects in the brain.

Since this process is taking place unconsciously in the brain, its reliability is higher than
when respondents are simply giving verbal descriptions of their preferences. It can always
be the case that the expressions of consumers do not correspond to their actual desires and
preferences.

In a study by Reimann, Zaichkowsky, Neuhaus, Bender and Weber (2010), it was found
that an attractive and aesthetic representation of a product in form of its design or its
packaging compellingly does increase the activation of the nucleus acumens and the
ventromedial pre frontal cortex, which are responsible for emotions in the decision-making
process and the cognition of rewards. FMRI and EEG are the only methods capable of
perceiving these activations. Therewith, we can conclude that the application of neuro-
marketing techniques in order to influence the effectiveness of the present marketing tool
 15

pricing can be highly effective when applied appropriately (Gang, Lin, Qi, Yan, &
2012,May).
 16

7. Analysis and Interpretation

We conducted three types of sample test, which includes questionnaire, observation and
experiment.
The results we have got are as follows:
We have 50 respondent amongst whom-
 68% are below the age of 25
 24% are between 25-35 And
 8% are between the ages of 35-45.

When we observed some of the consumers we found that-

 50% of the samples cares about Price.
 10% of them cares for taste.
 30% of them cares about branding and packaging.
 10% of them cares for quantity.
 And the prime factor or we could say the independent factor of the research is
Availability of the product.
We conducted experiment amongst the students of NDUB. Amongst whom
 25% preferred coca cola
 75% preferred Pepsi
 56.25% were correct
 43.75% were incorrect
 Amongst them 37.5% tasted coke and said Pepsi
 43.75% tasted Pepsi and said coke

We found that most of the people care about price and brand. Very less people care about
different taste and quantity. The most influential factor is availability. Different situation
effects consumer on their consumption behavior. As per our experiment, 43.75% tasted
Pepsi and said it was Coca-cola. And also we see that 75% of the sample preferences to
consume pepsi. Here we see that, though preference for pepsiis more than of cocacola, still
many of the sample, they tasted pepsi and said it was coca-cola because , though they prefer
and consume pepsi, but in their mind, they consider coca-cola instead of pepsi.
 17

8. Recommendation
As we conducted various types of experiment and observation to see how and why most
consumer makes their buying decision and we can conclude in a recommendation in
beverages sector in Bangladesh.

We know that neuro-marketing have many field like Branding, availability, pricing,
advertising etc. but we can recommend that not all the factor effect beverages industry but
few factor plays important role in our country, such as- branding, and pricing are most
important part, most of the customer switch between them for making ultimate buying
decision.

So, we suggest the companies to give more focus to these factors, it will increase their
market-share, also there are so many opportunities in demographic profile in Bangladesh
so companies can work on others fields of neuro-marketing and can exploit their full
potential.

For better understanding on neuromarketing, we recommend everyone to follow up the

book ,Véndele a la mente, no a la gente by Jurgen Klaric which may help them in better
extent the theories written in the book are scientifically proven and trusted.
 18

9. Limitations &Conclusion
There are obviously certain limitations that we considered while working on this report.

First of all, the time aspect restricts the dimension of the study. Since the timeframe from
the very beginning till the presentation of the report was very tight, so we had very limited
time in which all the literature has to be found and read, relevant information has to be
selected and, based upon that, a report has to be created.

Neuro-marketing is now only in its introductory stage. So there are lack of books and
journals about neuro-marketing. If there is a good journal or books it is not feasible for us
to get in hand of those data. We are conducting the research for completing the course
“Business Research and Methodology” with the excellent guidance of our respected
Course Instructor Mr. S M Feroj Mahmood . As our time is very short in accordance to
the topic but we tried our best to present a precise report for better understanding.

References

Fortunato, V.C.R.F, Giraldi, J.M.E.G, (2014). A Review of Studies on Neuromarketing.

Journal of Management Research. Vol. 6(2), Pp (203, 205-207)

Sebastian, V.S, (2014). Neuromarketing and Evaluation of Cognitive and Emotional

Responses of Consumers to Marketing Stimuli. Vol.127, Pp (754-756)

Roth, V.A.V, (2013). The Potential of Neuromarketing as a Marketing Tool, Pp (5,6)

Véndele a la mente, no a la gente by Jürgen Klaric

 19

10. Appendix

Observation:

We observe how people differentiate pepsi and coke to find that we took 16 people
and gave them two glass in which pepsi and coke were pour in. They tasted each and
said what it was either coke or pepsi. We also asked them their preference.

Preference Coke Pepsi Overview

Coke   Negative
Coke   Negative
Coke   Positive
Pepsi   Positive
Pepsi   Positive
Pepsi   Positive
Pepsi   Positive
Pepsi   Negative
Pepsi   Negative
Pepsi   Positive
Pepsi   Negative
Pepsi   Positive
Pepsi   Negative

Figure 1.1: Observation

 20

We also conducted questionnaire on online in which we have 25 respondent. By visiting

this link https://goo.gl/C9pEFm can visit our questionnaire. We asked 13 different
question. The questionnaire is given below:

Research Methodology Questionnaire

Title: Effect of Neuro-Marketing in food and beverages of Dhaka city

Please spare few minutes of your valuable time to answer this simple question. Please
tick the empty boxes: Sample:
1) What is your age?
Below 25 25-35
35-45 45 or more
2) What is your occupation?
Student Service Holder
Businessman Others
3) What is your favorite color?
Blue Red
Green Others, Please mention: …………………..

4) Does color on the packaging determines your buying decisions?

Yes No
Maybe

5) Which type of packaging do you prefer?

Glass Plastic
Tin Paper
6) What is your perception on alcoholic drinks?
Very Good Good
Neutral Not Good
7) What type of food you often consume outside home?
Organic Junk

Processed Homemade
8) Which kind of products attracts you?
 21

Branded item Local item

9) What preferable place to purchase a product?

Super Store Local Market

Shopping Mall Departmental Store

10) Does taste attracts you to choose over different options?

Yes, Taste is the main preferences often, but I prefer brand value

No, I prefer packaging Most often, I prefer quantity

11) Does advertisement on a certain product motivates your buying decision?

Yes No
Maybe

12) If advertisement influence your buying decision what factor do you like in that
advertisement?

Emotions Social responsility

Patratiotic Others,………….. (Please Mention)

13) Does the reputation of a company influence your decision making?
Yes No
Neutral
 22

From this response we analyze the data and find our conclusion which were given in
the finding and analysis part, Here are some important charts for follow-up:

N Minimum Maximum Mean Std. Deviation

What is your Age? 25 1 3 1.40 .645
What is your occupation? 25 1 3 1.20 .577
What is your favorite color?
25 1 4 2.04 1.274
Does color & packaging determine
your buying behavior? 25 1 4 1.92 .812

Which type of packaging do you

prefer 25 1 4 2.68 1.282
What is your perception on alcoholic
drinks? 25 2 4 3.00 .816
Which types of food you consume
outside of home? 25 1 4 2.52 .963

Which Kind of Product attracts you?

25 1 4 1.56 1.003
What preferable place to purchase a
product? 25 1 4 2.40 1.190
Does taste attracts you to choose
over different options? 25 1 4 2.04 1.306

Does advertisement on a certain

product motivates your buying 25 1 4 1.84 .850
decision?
If advertisement influence your buying
decision what factor do you like in that
advertisement? 25 1 4 2.16 .987

Does the reputation of a company

influence your decision making 25 1 3 1.40 .764

Valid N (listwise) 25

Figure 1.2: Descriptive Statistics

What is your Age?

Cumulative
Frequency Percent Valid Percent Percent
Valid Below 25 17 68.0 68.0 68.0
25-35 6 24.0 24.0 92.0
35-45 2 8.0 8.0 100.0
Total 25 100.0 100.0
 23

What is your occupation?

Cumulative
Frequency Percent Valid Percent Percent
Valid Student 22 88.0 88.0 88.0
Service Holder 1 4.0 4.0 92.0
Businessman 2 8.0 8.0 100.0
Total 25 100.0 100.0

What is your favorite color?

Cumulative
Frequency Percent Valid Percent Percent
Valid Blue 13 52.0 52.0 52.0
Red 4 16.0 16.0 68.0
Green 2 8.0 8.0 76.0
Other 6 24.0 24.0 100.0
Total 25 100.0 100.0

Does color & packaging deteremine your your buying brhavior?

Cumulative
Frequency Percent Valid Percent Percent
Valid Yes 7 28.0 28.0 28.0
No 15 60.0 60.0 88.0
Others 1 4.0 4.0 92.0
4 2 8.0 8.0 100.0
Total 25 100.0 100.0

Which type of packaging do you prefer

Cumulative
Frequency Percent Valid Percent Percent
Valid Glass 6 24.0 24.0 24.0
Plastic 7 28.0 28.0 52.0
Tin 1 4.0 4.0 56.0
Paper 11 44.0 44.0 100.0
Total 25 100.0 100.0

What is your perception on alcoholic drinks?

Cumulative
Frequency Percent Valid Percent Percent
Valid Good 8 32.0 32.0 32.0
Neutral 9 36.0 36.0 68.0
 24

Not good 8 32.0 32.0 100.0

Total 25 100.0 100.0

Which types of food you consume outside of home?

Cumulative
Frequency Percent Valid Percent Percent
Valid Organic 3 12.0 12.0 12.0
Junk 11 44.0 44.0 56.0
Processed 6 24.0 24.0 80.0
Home Made 5 20.0 20.0 100.0
Total 25 100.0 100.0

Which Kind of Product attracts you?

Cumulative
Frequency Percent Valid Percent Percent
Valid Branded Item 17 68.0 68.0 68.0
Non-Branded Item 5 20.0 20.0 88.0
4 3 12.0 12.0 100.0
Total 25 100.0 100.0

What preferable place to purchase a product?

Cumulative
Frequency Percent Valid Percent Percent
Valid Super Market 8 32.0 32.0 32.0
Local Market 5 20.0 20.0 52.0
Shopping Mall 6 24.0 24.0 76.0
Departmental Store 6 24.0 24.0 100.0
Total 25 100.0 100.0
Does taste attracts you to choose over different options?

Cumulative
Frequency Percent Valid Percent Percent
Valid Yes, Taste is the
main preferences 13 52.0 52.0 52.0
often, but I prefer
brand value 5 20.0 20.0 72.0
Most often, I prefer
quantity 7 28.0 28.0 100.0
Total 25 100.0 100.0

Does advertisement on a certain product motivates your buying decision?

Cumulative
Frequency Percent Valid Percent Percent
Valid Yes 10 40.0 40.0 40.0
 25

No 10 40.0 40.0 80.0

Maybe 4 16.0 16.0 96.0
4 1 4.0 4.0 100.0
Total 25 100.0 100.0

If advertisement influence your buying decision what factor do you like in that advertisement?

Cumulative
Frequency Percent Valid Percent Percent
Valid Emotion 7 28.0 28.0 28.0
Social Responsibility 10 40.0 40.0 68.0
Patriotic 5 20.0 20.0 88.0
Others 3 12.0 12.0 100.0
Total 25 100.0 100.0

Does the reputation of a company influence your decision making

Cumulative
Frequency Percent Valid Percent Percent
Valid Yes 19 76.0 76.0 76.0
No 2 8.0 8.0 84.0
Maybe 4 16.0 16.0 100.0
Total 25 100.0 100.0

Figure: All descriptive summary of questionnaire