Ethical Perspectives of Neuromarketing – A Qualitative Analysis

Neuromarketing has emerged as a novel research technique which analyses an individual’s neurophysiological mechanism in response to various types of marketing stimuli, in order to develop insights into customer behaviour and motivation. It is touted to be better than traditional question-based market research because instead of asking consumers what they want, it studies the body’s reaction to accurately gauge their preferences. However, numerous studies have criticized this technique in the light of various purported ethical malpractices that can occur or are already occurring. The following exploratory research uses Grounded Theory to deep-dive into the various ethical issues of neuromarketing. The central theme that emerges from the study is the need to develop regulatory framework to supervise neuromarketing research. The study concludes with recommendations for industry and academia on the required set of ethical principles that must be adopted while conducting neuromarketing research. Keywords: Neuromarketing, Ethics, Data Privacy, Autonomy, Grounded Theory. DOI: 10.7176/JMCR/91-01 Publication date: November 30 th 2023