The article `Neuromarketing,' looks into some of the latest developments in the field of neurology and its implications in the area of branding. Drawing insights from brain image sciences, neuromarketing helps to assess consumer decision-making process and enables the marketer to design products and brands according to customer tastes and preferences. The article also questions the validity of conventional concept USP, traditional research methods and traces the reasons behind their failure with the newfound knowledge.

Six sigma as a management tool has caught the fancy of many organizations around the world. The crucial objective for all departments of these organizations has been to drastically reduce the probability of mistakes. And a large number of these departments have managed to do so. Whereas, if we take a look at the marketing departments of leading organizations around the world, we observe an excessively high failure rate in the decisions made. Studies show that nine out of ten new products in the market fail.

The problem becomes all the more acute when one realizes that the above mentioned failure rate is despite billions of rupees being spent on consumer research. As Prof. Gerald Zaltman mentions in his book, How Customers Think; Insights into mind of the market, "there is a huge difference between what the consumer tells the marketer during a research and what he or she does when they go to a shop to buy a product. This discrepancy is what is leading to the huge failure rate in the marketing department." No doubt, time for concrete action from the marketing professionals is long overdue to seek fundamental changes in the way they try to understand the consumer and his behavior.

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