Value based marketing: Examining the role of leadership support in promoting neuromarketing

Abstract

Neuromarketing is a branch in the field of commercial marketingcommunication. Neuromarketing closely relates to neuropsych-ology and market research for studying the cognitive thinkingprocess of customers and their responses to the marketing stim-uli. Presently no study has investigated the moderating role offirm leadership support in promoting neuromarketing applica-tions in their firm. However, there is a huge interest amongresearchers and industry practitioners to understand this phe-nomenon and how leadership support can sponsor and invest inneuromarketing related programs in their marketing depart-ments. Against this background, the objective of this study is toexamine the role of firm leadership support in promoting neuro-marketing and the consequences of it. With the help of marketingtheories and literature, a theoretical model has been developed.Later, the model is validated using the CB-SEM technique using372 responses from employees in marketing departments of vari-ous firms. The study finds that there is a significant and positiveimpact of neuromarketing on customer loyalty, improving busi-ness value, and marketing performance of the firms, which in turnsignificantly impacts the competitive advantage of the firms. Thestudy also finds that leadership support plays an important role inpromoting neuromarketing related applications in the firms.