Biomarketing
Bio-marketing is a method to predict buying behaviour of a prospective customer, through biometrical IoT sensors readings.
If the human body is monitored when exposed to an external product or service stimulus, it can provide readings – like increases in adrenaline, cortisol, dopamine, melatonin, oxytocin, and serotonin, respiratory changes in breath, and others – impacting consumer behaviour.[1] Monitoring multiple subjects with at least three sensors on each one is expected to produce a vast amount of raw data. Big data analysis combined with artificial intelligence and machine learning systems can be used to identify sensor readings, patterns, match, and predict decisions based on real biometrical data.
Currently,[when?] marketing decisions are based on metrics like previous sales, lifestyle indexes, demographics, psychographics, web and social media interactions, search engine queries, outcomes from advertisements, and more aggregate and indirect data.
Bio-marketing aims to add direct, timely, and more reliable metrics, based on real time data to drastically increase the accuracy in predicting subject customer's buying behaviour.
An earlier, more generic definition of bio-marketing stated that in buying and selling interactions, hormones, genes, and pleasure and pain signs can be explored from a biological perspective.[2]
References
- ↑ Aggrawal, Vivek B. (February 22, 2022). "Biomarketing: Human Body As Marketing Engine". SSRN 4079030 Check
|ssrn=value (help) – via papers.ssrn.com. - ↑ Fatoki, Toluwase (2021). "Biomarketing: Understanding Brand Perception through Biological Process, and User-Friendly Materials and Platforms".
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