MM NEUROMARKETING 2023
WEEK 1............................................................................................................................................................................................................................3
LECTURE 1...................................................................................................................................................................................................................................................................... 3
An experiment of faces attractiveness:.............................................................................................................................................................................................4
TMS - transcranial magnetic stimulation................................................................................................................................................................................4
Introduction to Neuromarketing - History..................................................................................................................................................................................................4
The Pepsi challenge in the scanner......................................................................................................................................................................................................5
Key learnings:...................................................................................................................................................................................................................................................... 7
VIDEO: Anatomy of the brain I: a brief introduction to the cerebral cortex............................................................................................................................ 7
THE CORTEX.................................................................................................................................................................................................................................................................9
Insula................................................................................................................................................................................................................................................................................. 11
The hippocampus..................................................................................................................................................................................................................................................... 11
Amygdala........................................................................................................................................................................................................................................................................11
Basal ganglia................................................................................................................................................................................................................................................................12
The Stratium...................................................................................................................................................................................................................................................... 12
ARTICLES NOTES....................................................................................................................................................................................................................................................12
1. Neuromarketing: The hope and hype of neuroimaging in business - Ariely & Berns (2010)...................................................................12
2. Consumer Neuroscience: Applications, Challenges, and Possible Solutions - Plassmann et al (2015)........................................... 13
5 concrete ways in which neuroscientific tools can be applied to improve understanding of marketing theories and
consumer behaviour.......................................................................................................................................................................................................................... 13
3 Challenges in the field.................................................................................................................................................................................................................. 13
CHAPTER 1: Introducing cognitive neuroscience...............................................................................................................................................................................14
CHAPTER 2: Introducing the brain................................................................................................................................................................................................................14
THE CEREBRAL CORTEX.................................................................................................................................................................................................................................. 16
THE SUBCORTEX.................................................................................................................................................................................................................................................... 16
WEEK 2..........................................................................................................................................................................................................................17
VIDEO: Brain, valuation & Choice...................................................................................................................................................................................................................17
ARTICLE NOTES...................................................................................................................................................................................................................................................... 22
1. Neural predictors of purchase (Knutson, et al 2007).........................................................................................................................................................22
2. The root of all value: a neural common currency for choice (Levy & Glimcher, 2012)................................................................................. 23
3. Reward representations and reward-related learning in the human brain: insights from neuroimaging (Doherty, 2004). 25
VIDEO: Neuroscience Methods......................................................................................................................................................................................................................26
Neurons............................................................................................................................................................................................................................................................... 26
Cell recordings.................................................................................................................................................................................................................................................27
EEG: Electroencephalography...............................................................................................................................................................................................................27
The basic logic of EEG:...........................................................................................................................................................................................................27
The spatial resolution of EEG → it is very low......................................................................................................................................................... 27
The temporal resolution of EEG: → very good.......................................................................................................................................................28
Recording electrical brain activity..................................................................................................................................................................................29
Frequencies of EEG:.................................................................................................................................................................................................................29
FMRI: functional magnetic resonance imaging.........................................................................................................................................................................30
How does fMRI work?............................................................................................................................................................................................................30
A simplified example of a BOLD response:..............................................................................................................................................................30
Recording Metabolic Brain Activity:..............................................................................................................................................................................30
CHAPTER 3: The electrophysiological brain......................................................................................................................................................................................... 33
Single cell recordings..................................................................................................................................................................................................................................33
Electroencephalography (EEG)............................................................................................................................................................................................................ 33
Event-related potentials (ERP)............................................................................................................................................................................................................. 34
CHAPTER 4: The imaged brain...................................................................................................................................................................................................................... 35
Computerized tomography (CT):.........................................................................................................................................................................................................35
Magnetic resonance imaging (MRI):................................................................................................................................................................................................. 35
1
, Position emission tomography (PET):..............................................................................................................................................................................................35
Functional magnetic resonance imaging (fMRI)....................................................................................................................................................................... 36
Analysing data from functional imaging........................................................................................................................................................................................ 36
Interpreting data from functional imaging....................................................................................................................................................................................37
WEEK 3: BRANDS.....................................................................................................................................................................................................38
LECTURE 5..................................................................................................................................................................................................................................................................38
What is a brand from a neuroscience perspective?...............................................................................................................................................................39
What’s in a name?.........................................................................................................................................................................................................................................39
How brands grow (Romaniuk, Sharp)............................................................................................................................................................................................... 39
Searching for your brand: visual attention & eye-tracking.................................................................................................................................................39
Brain mappers of brand associations and emotions..............................................................................................................................................................42
Emotions and brand associations on the brain......................................................................................................................................................................... 43
Neural profiling brands: mapping brand image in consumer’s brains with visual templates (Chan et al., 2018).............................43
ARTICLES.................................................................................................................................................................................................................................................................... 46
1. Branding the brain: A critical review and outlook - Plassmann, Ramsøy & Milosavljevic (2012).......................................................... 46
2. Neural correlates of behavioural preference for culturally familiar drinks. - McClure et al (2004).....................................................49
3. Marketing actions can modulate neural representation of experienced pleasantness - Plassmann et al (2008).................. 49
LECTURE 6: Capturing brand-association in a split second (guest lecture).....................................................................................................................49
WEEK 4: Advertising & brain.................................................................................................................................................................................52
LECTURE 8.................................................................................................................................................................................................................................................................. 52
Using EEG to analyze & optimize advertising............................................................................................................................................................................. 53
Method applied by Nielsen Consumer Neuroscience - Case study.................................................................................................................. 53
TV ad effectiveness: shelter pet project (By Ad council) Research for free.................................................................................................53
ERP: How to meausre the impact of an ad on a specific attribute or brand association with EEG?.......................................................54
Ad compression................................................................................................................................................................................................................................... 55
Tracking emotions in real time with EEG............................................................................................................................................................................. 55
Can we also measure specific emotions in real time with EEG?.................................................................................................................................... 55
Implicit measurement of emotional experience and its dynamics (Eijlers et. al., 2018)..................................................................................55
Advertising your brand: why celebrity endorsement is effective?............................................................................................................................... 56
Endorser theory: VisCAP-mode.......................................................................................................................................................................................................... 57
Expertise of information source.......................................................................................................................................................................................................... 57
Brain mechanisms of persuasion: how expert power modulates memory and attitudes - (Klucharev et. al, 2008)................... 58
Celebrities & shoes on the female brain: the neural correlated of product evaluation in the context of fame (Stallen et al.
2009)..................................................................................................................................................................................................................................................................... 61
Hierarchical ABC brain possesses underlying celebrity effects in advertising.................................................................................................... 62
What did we learn?.......................................................................................................................................................................................................................................62
LECTURE 9: Neural Predictors of consumer choice........................................................................................................................................................................ 62
Quit smoking ads (Falk et. al., 2011)................................................................................................................................................................................................... 63
Neuroforecasting.......................................................................................................................................................................................................................................... 63
Follow up study of Quit smoking ads................................................................................................................................................................................................64
From neural responses to population behavior: neural focus group predicts population-level media effects (Falk et. al.,
2012)......................................................................................................................................................................................................................................................................64
Predicting sales with brain markers:.................................................................................................................................................................................................64
A neural predictor of cultural popularity (Berns & Moore, 2012)................................................................................................................................... 64
What drives people to lend money to a stranger?.................................................................................................................................................................. 65
Brain responses to movie-trailers predict individual preferences for movies and their population-wide success (Boksem &
Smidts, 2015)...................................................................................................................................................................................................................................................66
Neural synchronization: a measure of engagement...............................................................................................................................................................67
A ticket for your thoughts: Method for predicting movie trailer recall and future ticket sales using neural similarity among
moviegoers (Barnett &Cerf, 2017)..................................................................................................................................................................................................... 67
Are brain metrics better predictors than self-report and biometrics?...................................................................................................................... 69
Predicting advertising success beyond traditional measures (Venkatraman et. al., 2014)...........................................................................69
2
, Which brain areas are predictive?......................................................................................................................................................................................................70
Neuro Forecasting aggregate choice - Knutson & Genevsky, 2018............................................................................................................................70
Neuroforecasting with fMRI..........................................................................................................................................................................................................71
AIM model...........................................................................................................................................................................................................................................................71
Conclusion and challenges: brain as a predictor....................................................................................................................................................................... 72
WEEK 5 - FINAL......................................................................................................................................................................................................... 73
Taking stock of 20 yrs Neuromarketing & future perspective.................................................................................................................................................. 73
Understanding the role of genes on behaviour through the brain................................................................................................................................73
Connecting a wealth of data to your DNA profile - and selling it....................................................................................................................................73
Practical usefulness of genetic data for mkt purposes?.....................................................................................................................................................73
Developments in method and data..............................................................................................................................................................................................................73
Future of NM: seize rapid growth of basic brain knowledge............................................................................................................................................. 73
Ethical issues in Neuromarketing................................................................................................................................................................................................................. 74
Ethical concerns:............................................................................................................................................................................................................................................74
WEEK 1
LECTURE 1
Oxytocin: hormone released when connecting to someone
BOOK - How emotions are made
Two kinds of social norms:
- Injunctive norms → perception of common disapproval of a particular kind of behavior
→ what you should do
- Descriptive norms → behavior that is most common in a given situation
→ what people actually do
What underlies social conformity: reinforcement learning.
A deviation from the group’s behavior evokes neural activity similar to error-related
activity in reinforcement learning.
Dopamine response = reward occurred - reward predicted
If you do smth, a reward occurs, but you also have an expectation. If the reward and the
expectations align, you don’t get a dopamine response. If they don’t align, your brain
releases dopamine.
Prediction error: the discrepancy between an actually received reward and its prediction
→ Learning is proportional to the prediction error
Nucleus accumbens: the most important reward area in your brain
In mkt, we want to affect this area of the brain because it’s the area that feels rewarding.
Conceive the brain as a “prediction machine”
→ it constantly predicts what happens and connects what is actually happening
Also with our emotions. We predict that we will feel a certain emotion and if it does not happen we feel disappointed
3
, → The brain can’t be neutral. We always predict what is going to happen.
How to measure social conformity in the MRI scanner?
Grey matter: where the neurons are. Where the processing happens
White matter: where the connection between all the neurons happens
BOLD-signal: blood oxygen level-dependent
More blood is coming to the brain to restore the oxygen that has been used when exposed to stimuli. By
measuring the blood flow, we can know which neuron has been activated when a stimulus was shown
We adjust our opinions simply because of the external opinions that we encounter.
An experiment of faces attractiveness:
Behavioural effect:
← change in face attractiveness ratings induced by group opinion:
If your opinion was different from the other people’s opinions, the error signal was activated due to
the deviation from the group’s activity.
Brain areas driving conformity:
Deviating from a group is experienced as a punishment in the Nucleus
Accumbens (NAc).
TMS - transcranial magnetic stimulation
→ Testing the causal role of the RCZ in social conformity
By using TMS, the machine releases electricity in your brain that temporarily shuts
down a target area.
By shutting down this area → you don’t get the correction signal → no
error-generating signal which reduces conforming behavior.
The nucleus Accumbems is very deep in the brain → which is really hard to reach. So you still have a little bit of correction, but not
as much as before.
A lot of peer influence has big automatic brain response that is out of our awareness. But as soon as we see differences that we
find important, our brain sends us signals to update our behavior
Introduction to Neuromarketing - History
Neuroeconomics (since 2002) → integrating knowledge from neuroscience,
psychology, and economics into one unifying theory explaining human choice behavior.
Goal: measuring brain processes to better understand & predict economic choices
(decision-making by consumers, managers, investors, policymakers…)
Behavioral economics: developed by integrating psychological insights into economics
4
WEEK 1............................................................................................................................................................................................................................3
LECTURE 1...................................................................................................................................................................................................................................................................... 3
An experiment of faces attractiveness:.............................................................................................................................................................................................4
TMS - transcranial magnetic stimulation................................................................................................................................................................................4
Introduction to Neuromarketing - History..................................................................................................................................................................................................4
The Pepsi challenge in the scanner......................................................................................................................................................................................................5
Key learnings:...................................................................................................................................................................................................................................................... 7
VIDEO: Anatomy of the brain I: a brief introduction to the cerebral cortex............................................................................................................................ 7
THE CORTEX.................................................................................................................................................................................................................................................................9
Insula................................................................................................................................................................................................................................................................................. 11
The hippocampus..................................................................................................................................................................................................................................................... 11
Amygdala........................................................................................................................................................................................................................................................................11
Basal ganglia................................................................................................................................................................................................................................................................12
The Stratium...................................................................................................................................................................................................................................................... 12
ARTICLES NOTES....................................................................................................................................................................................................................................................12
1. Neuromarketing: The hope and hype of neuroimaging in business - Ariely & Berns (2010)...................................................................12
2. Consumer Neuroscience: Applications, Challenges, and Possible Solutions - Plassmann et al (2015)........................................... 13
5 concrete ways in which neuroscientific tools can be applied to improve understanding of marketing theories and
consumer behaviour.......................................................................................................................................................................................................................... 13
3 Challenges in the field.................................................................................................................................................................................................................. 13
CHAPTER 1: Introducing cognitive neuroscience...............................................................................................................................................................................14
CHAPTER 2: Introducing the brain................................................................................................................................................................................................................14
THE CEREBRAL CORTEX.................................................................................................................................................................................................................................. 16
THE SUBCORTEX.................................................................................................................................................................................................................................................... 16
WEEK 2..........................................................................................................................................................................................................................17
VIDEO: Brain, valuation & Choice...................................................................................................................................................................................................................17
ARTICLE NOTES...................................................................................................................................................................................................................................................... 22
1. Neural predictors of purchase (Knutson, et al 2007).........................................................................................................................................................22
2. The root of all value: a neural common currency for choice (Levy & Glimcher, 2012)................................................................................. 23
3. Reward representations and reward-related learning in the human brain: insights from neuroimaging (Doherty, 2004). 25
VIDEO: Neuroscience Methods......................................................................................................................................................................................................................26
Neurons............................................................................................................................................................................................................................................................... 26
Cell recordings.................................................................................................................................................................................................................................................27
EEG: Electroencephalography...............................................................................................................................................................................................................27
The basic logic of EEG:...........................................................................................................................................................................................................27
The spatial resolution of EEG → it is very low......................................................................................................................................................... 27
The temporal resolution of EEG: → very good.......................................................................................................................................................28
Recording electrical brain activity..................................................................................................................................................................................29
Frequencies of EEG:.................................................................................................................................................................................................................29
FMRI: functional magnetic resonance imaging.........................................................................................................................................................................30
How does fMRI work?............................................................................................................................................................................................................30
A simplified example of a BOLD response:..............................................................................................................................................................30
Recording Metabolic Brain Activity:..............................................................................................................................................................................30
CHAPTER 3: The electrophysiological brain......................................................................................................................................................................................... 33
Single cell recordings..................................................................................................................................................................................................................................33
Electroencephalography (EEG)............................................................................................................................................................................................................ 33
Event-related potentials (ERP)............................................................................................................................................................................................................. 34
CHAPTER 4: The imaged brain...................................................................................................................................................................................................................... 35
Computerized tomography (CT):.........................................................................................................................................................................................................35
Magnetic resonance imaging (MRI):................................................................................................................................................................................................. 35
1
, Position emission tomography (PET):..............................................................................................................................................................................................35
Functional magnetic resonance imaging (fMRI)....................................................................................................................................................................... 36
Analysing data from functional imaging........................................................................................................................................................................................ 36
Interpreting data from functional imaging....................................................................................................................................................................................37
WEEK 3: BRANDS.....................................................................................................................................................................................................38
LECTURE 5..................................................................................................................................................................................................................................................................38
What is a brand from a neuroscience perspective?...............................................................................................................................................................39
What’s in a name?.........................................................................................................................................................................................................................................39
How brands grow (Romaniuk, Sharp)............................................................................................................................................................................................... 39
Searching for your brand: visual attention & eye-tracking.................................................................................................................................................39
Brain mappers of brand associations and emotions..............................................................................................................................................................42
Emotions and brand associations on the brain......................................................................................................................................................................... 43
Neural profiling brands: mapping brand image in consumer’s brains with visual templates (Chan et al., 2018).............................43
ARTICLES.................................................................................................................................................................................................................................................................... 46
1. Branding the brain: A critical review and outlook - Plassmann, Ramsøy & Milosavljevic (2012).......................................................... 46
2. Neural correlates of behavioural preference for culturally familiar drinks. - McClure et al (2004).....................................................49
3. Marketing actions can modulate neural representation of experienced pleasantness - Plassmann et al (2008).................. 49
LECTURE 6: Capturing brand-association in a split second (guest lecture).....................................................................................................................49
WEEK 4: Advertising & brain.................................................................................................................................................................................52
LECTURE 8.................................................................................................................................................................................................................................................................. 52
Using EEG to analyze & optimize advertising............................................................................................................................................................................. 53
Method applied by Nielsen Consumer Neuroscience - Case study.................................................................................................................. 53
TV ad effectiveness: shelter pet project (By Ad council) Research for free.................................................................................................53
ERP: How to meausre the impact of an ad on a specific attribute or brand association with EEG?.......................................................54
Ad compression................................................................................................................................................................................................................................... 55
Tracking emotions in real time with EEG............................................................................................................................................................................. 55
Can we also measure specific emotions in real time with EEG?.................................................................................................................................... 55
Implicit measurement of emotional experience and its dynamics (Eijlers et. al., 2018)..................................................................................55
Advertising your brand: why celebrity endorsement is effective?............................................................................................................................... 56
Endorser theory: VisCAP-mode.......................................................................................................................................................................................................... 57
Expertise of information source.......................................................................................................................................................................................................... 57
Brain mechanisms of persuasion: how expert power modulates memory and attitudes - (Klucharev et. al, 2008)................... 58
Celebrities & shoes on the female brain: the neural correlated of product evaluation in the context of fame (Stallen et al.
2009)..................................................................................................................................................................................................................................................................... 61
Hierarchical ABC brain possesses underlying celebrity effects in advertising.................................................................................................... 62
What did we learn?.......................................................................................................................................................................................................................................62
LECTURE 9: Neural Predictors of consumer choice........................................................................................................................................................................ 62
Quit smoking ads (Falk et. al., 2011)................................................................................................................................................................................................... 63
Neuroforecasting.......................................................................................................................................................................................................................................... 63
Follow up study of Quit smoking ads................................................................................................................................................................................................64
From neural responses to population behavior: neural focus group predicts population-level media effects (Falk et. al.,
2012)......................................................................................................................................................................................................................................................................64
Predicting sales with brain markers:.................................................................................................................................................................................................64
A neural predictor of cultural popularity (Berns & Moore, 2012)................................................................................................................................... 64
What drives people to lend money to a stranger?.................................................................................................................................................................. 65
Brain responses to movie-trailers predict individual preferences for movies and their population-wide success (Boksem &
Smidts, 2015)...................................................................................................................................................................................................................................................66
Neural synchronization: a measure of engagement...............................................................................................................................................................67
A ticket for your thoughts: Method for predicting movie trailer recall and future ticket sales using neural similarity among
moviegoers (Barnett &Cerf, 2017)..................................................................................................................................................................................................... 67
Are brain metrics better predictors than self-report and biometrics?...................................................................................................................... 69
Predicting advertising success beyond traditional measures (Venkatraman et. al., 2014)...........................................................................69
2
, Which brain areas are predictive?......................................................................................................................................................................................................70
Neuro Forecasting aggregate choice - Knutson & Genevsky, 2018............................................................................................................................70
Neuroforecasting with fMRI..........................................................................................................................................................................................................71
AIM model...........................................................................................................................................................................................................................................................71
Conclusion and challenges: brain as a predictor....................................................................................................................................................................... 72
WEEK 5 - FINAL......................................................................................................................................................................................................... 73
Taking stock of 20 yrs Neuromarketing & future perspective.................................................................................................................................................. 73
Understanding the role of genes on behaviour through the brain................................................................................................................................73
Connecting a wealth of data to your DNA profile - and selling it....................................................................................................................................73
Practical usefulness of genetic data for mkt purposes?.....................................................................................................................................................73
Developments in method and data..............................................................................................................................................................................................................73
Future of NM: seize rapid growth of basic brain knowledge............................................................................................................................................. 73
Ethical issues in Neuromarketing................................................................................................................................................................................................................. 74
Ethical concerns:............................................................................................................................................................................................................................................74
WEEK 1
LECTURE 1
Oxytocin: hormone released when connecting to someone
BOOK - How emotions are made
Two kinds of social norms:
- Injunctive norms → perception of common disapproval of a particular kind of behavior
→ what you should do
- Descriptive norms → behavior that is most common in a given situation
→ what people actually do
What underlies social conformity: reinforcement learning.
A deviation from the group’s behavior evokes neural activity similar to error-related
activity in reinforcement learning.
Dopamine response = reward occurred - reward predicted
If you do smth, a reward occurs, but you also have an expectation. If the reward and the
expectations align, you don’t get a dopamine response. If they don’t align, your brain
releases dopamine.
Prediction error: the discrepancy between an actually received reward and its prediction
→ Learning is proportional to the prediction error
Nucleus accumbens: the most important reward area in your brain
In mkt, we want to affect this area of the brain because it’s the area that feels rewarding.
Conceive the brain as a “prediction machine”
→ it constantly predicts what happens and connects what is actually happening
Also with our emotions. We predict that we will feel a certain emotion and if it does not happen we feel disappointed
3
, → The brain can’t be neutral. We always predict what is going to happen.
How to measure social conformity in the MRI scanner?
Grey matter: where the neurons are. Where the processing happens
White matter: where the connection between all the neurons happens
BOLD-signal: blood oxygen level-dependent
More blood is coming to the brain to restore the oxygen that has been used when exposed to stimuli. By
measuring the blood flow, we can know which neuron has been activated when a stimulus was shown
We adjust our opinions simply because of the external opinions that we encounter.
An experiment of faces attractiveness:
Behavioural effect:
← change in face attractiveness ratings induced by group opinion:
If your opinion was different from the other people’s opinions, the error signal was activated due to
the deviation from the group’s activity.
Brain areas driving conformity:
Deviating from a group is experienced as a punishment in the Nucleus
Accumbens (NAc).
TMS - transcranial magnetic stimulation
→ Testing the causal role of the RCZ in social conformity
By using TMS, the machine releases electricity in your brain that temporarily shuts
down a target area.
By shutting down this area → you don’t get the correction signal → no
error-generating signal which reduces conforming behavior.
The nucleus Accumbems is very deep in the brain → which is really hard to reach. So you still have a little bit of correction, but not
as much as before.
A lot of peer influence has big automatic brain response that is out of our awareness. But as soon as we see differences that we
find important, our brain sends us signals to update our behavior
Introduction to Neuromarketing - History
Neuroeconomics (since 2002) → integrating knowledge from neuroscience,
psychology, and economics into one unifying theory explaining human choice behavior.
Goal: measuring brain processes to better understand & predict economic choices
(decision-making by consumers, managers, investors, policymakers…)
Behavioral economics: developed by integrating psychological insights into economics
4
