Marketing luxury: neuro insight

Abstract

Considering the lack of Lithuanian researchers’ insights into the field of neuromarketing, it is relevant to analyze the application areas of this paradigm. Considering an intensive competition among product and service providers in the market, it is necessary for marketers to change their point of view from highly transaction-oriented mass marketing efforts to neuromarketing methods which are more subtle in their performance. Neuromarketing research is based on human brain performance; it neglects many contemporary marketing ideas, therefore, modern marketing activities have to be coordinated with subconscious processes in customers’ brain. Achieving to determine the main principles of neuromarketing, which could be considered while marketing luxury, a qualitative content analysis of scientific literature is performed in the article. As a result, structured neuro insights for luxury marketing are provided.

JEL codes: M310, M390.