How far neuromarketing can go ethically Literature review

How far neuromarketing can go ethically - Literature review Example The key source to win such intensive battle i.e. capturing target audience’s attention was the use of highly targeted communication based on effective and thorough research along with the integration of science (4imprint, 2010). Traditionally, marketers and advertisers utilised focus groups and interviews to gain insights regarding the needs and wants of the consumers. With such techniques/tools, the marketers were able to read the mind of the consumers by gauging the responses which provided them with superiority in the marketplace. But with the changes in consumer-driven marketplace, organisations have started seeking out new methods and ways to gather consumer opinions and reactions regarding a particular brand in the marketplace (4imprint, 2010). With the improvements in technology, and with increasing research of the marketers, the result has been presented in the form of neuromarketing. Neuromarketing has been highly used and it has been estimated that the usage of neuro marketing will be increasing with the passage of time. It may sound futuristic, but with the advancement of technology in this new era, marketers have been provided with an opportunity to tap into the minds of the consumers. Not only this, these new technologies allow the marketers to scientifically understand the needs and desires of the consumers. With the integration of thorough research and science i.e. (technology), marketers and advertisers have gradually enhanced their ability to exactly pinpoint the reasons and causes due to which people tend to purchase a product. In addition, such technologies have uncovered the response of brain to various advertisement and marketing tactics (4imprint, 2010). Technology that organisations once fantasised is now a reality which has constantly helped the giant organisations like Campbell’s Soup and Pepsi to enhance their brand image along with the marketing of their products (4imprint, 2010). The concept of Neuromarketing came into e xistence almost a decade ago by an Atlanta Advertisement firm i.e. Bright house in June 2002, with a specific aim. The main aim of Neuromarketing was marketing research (Fisher et al., 2009). With the help of neuromarketing, the organisation was able to enhance its knowledge regarding the needs and desire of the customers along with the buying behavior of the consumers in the market. As Neuromarketing is a combination of neuroscience and marketing practices, it provides the organisation with perfect opportunity to understand, predict and eventually control human behavior. As indicated by Fisher et al. (2009) that the problem is based on the fact that such integration of sciences and research is quite unclear that is it only an academic field of research or business practices despite the advantages and benefits associated with neuromarketing through which organisations were able to predict human behavior and eventually consumer behavior. Similarly, Murphy et al. (2008) that several n euromarketing companies claim that with the help of neuromarketing, the organisations would be able to fully understand the buying behavior of consumers but on the other hand, very little academics and scientific approaches validate such claims. The question that has risen is whether such neuromarketing is another trick of marketers and advertisers to manipulate the demands of the products or it is just a practice to

MGMT338 U3 IP Research Paper Example | Topics and Well Written Essays - 500 words

MGMT338 U3 IP - Research Paper Example Performance management of process includes the review and evaluation of processes performance and effectiveness. The use of clear objectives, standards, performance dimensions, and other measures helps to focus companies and also employee’s efforts. This increases productivity as departments within the organization get what needs to be done, and the redundant work is eliminated. This further saves organizational cost and streamlines the entire business operations. There are various tools to choose from which can help in evaluating the performance and developing appraisal systems. (Dinkin, E.,2009) These include ranking systems, three sixty feedback system, forced distribution, management by objectives, competency based performance, graphic rating scale, and behavioural anchored rating scale. There are multiple types of performance management plans that can be used by organizations. These range from strategic plans to the individual operational performance plans. The performanc e management plans that are used in the strategic planning of the firm relate to the long term performance goals and objectives. Hence, performance management plans can be divided into three main categories, the long term performance management plan, short term performance management plan, and micro level or individual level performance management plans. (Gruman, J. A., & Saks, A. M. ,2011) The impact of performance management on employees and the organization is positive in terms of productivity and efficiency. The use of performance management to align the strategic goals and objectives with the employee goals and aims help in streamlining and effectively achieving these strategic goals and objectives. The organizational productivity and performance is enhanced with the use of performance management. It has impacted directly on the company’s gross sales; the performance