Neuromarketing is applying neuropsychology in marketing research studying consumer sensory-motor actions such as cognitive and affective responses to marketing stimuli with the help of modern technologies. It is one of the most recent marketing research strategies and may become the future of marketing research. Many research works have been carried out in this area to obtain better outcome. However, literature shows that there is opportunity for further improvement. Hence, in this study, a model is presented using data mining and machine learning algorithms for consumer behavior analysis from EEG signals. Time-frequency distribution features are extracted from EEG signals on which different classification algorithms are applied. Consumer’s responses toward marketing strategies and their behavior towards purchasing or selecting goods can be studied and analyzed to understand producer-consumer relationship. EEG signals from 25 people are collected where the participants varied in age and gender for a better understanding of consumer behavior towards a marketing policy. By analyzing the data, the reason behind how and why they like certain marketing policies was uncovered. The performance of our proposed model with an existing technique is compared. The accuracy of our model on the dataset is 95%, whereas the accuracy of the existing technique on the same dataset is 70%. We also evaluated whether neuropsychological measures can capture differences in consumer’s actions according to different marketing stimuli. The experimental results on our model indicate that studies in this field can bring a change and improve marketing strategies for the betterment of both producer and consumer resulting in an eventual mutual benefit.
|Title of host publication||IEEE Symposium on Computational Intelligence and Data Mining (CIDM 2020)|
|Publication status||Accepted/In press - 18 Sep 2020|
|Event||IEEE Symposium on Computational Intelligence in Data Mining 2020: CIDM 2020 - Virtual conference|
Duration: 01 Dec 2020 → 04 Dec 2020
http://www.ieeessci2020.org/ (conference website)
|Conference||IEEE Symposium on Computational Intelligence in Data Mining 2020|
|Period||01/12/20 → 04/12/20|
Amin, C. R., Hasin, M. F., Leon, T. S., Aurko, A. B., Tamanna, T., Rahman, M. A., & Parvez, M. Z. (Accepted/In press). Consumer behavior analysis using EEG signals for neuromarketing application. In IEEE Symposium on Computational Intelligence and Data Mining (CIDM 2020) IEEE Xplore.