A Study on Neuromarketing Variables in Automobile Sector with Special Reference to Indian Consumers

Automobiles are one of the most lucrative industries today. Rural and urban disposable incomes are increasing, and easy financing is available. Those are the main factors driving high volume segments of the car industry. There has been an increase in new players entering the market, as well as the e...

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Bibliographic Details
Published in2024 4th International Conference on Innovative Practices in Technology and Management (ICIPTM) pp. 1 - 6
Main Authors Dutta, Mili, Trayambak, Shruti, Sharma, Meghna
Format Conference Proceeding
LanguageEnglish
Published IEEE 21.02.2024
Subjects
Automobile industry
Decision making
Industries
Manufacturing
Media
Neuromarketing
neuromarketing and consumers
Technological innovation
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Summary:Automobiles are one of the most lucrative industries today. Rural and urban disposable incomes are increasing, and easy financing is available. Those are the main factors driving high volume segments of the car industry. There has been an increase in new players entering the market, as well as the entry of global brands like Porsche, Bentley, and Ferrari into the Indian market. The results of this study can be used by both existing and new car manufacturers in India in determining their market offerings and customer expectations. Several national and multinational manufacturers are involved in Indian automobile manufacturing. The study of neuromarketing involves the study of how people react to media or marketing stimuli on an emotional and cognitive level. Researchers and marketers can discover the customer's needs, tastes, and preferences with the help of neuromarketing, and it helps them understand the behavior and actions of their customers. Using these new techniques, marketers can gain insights into consumers' unconscious behavior, which is not captured by traditional market research techniques. This means that neuromarketing is not intended to replace traditional market research, but rather to complement it in order to better understand consumer behavior.
DOI:10.1109/ICIPTM59628.2024.10563298