Where do business and brain science meet? In some fascinating places.
Giant pharmaceutical and biotech companies like Pfizer and Merck invest millions of dollars in developing treatments for neurological disorders like Alzheimer’s. And it’s not just a big-exploration of brain-centered brand loyalty, researchers are also studying the role that the human brain plays in We spoke with Dr. Elizabeth “Zab” Johnson, executive director of the Wharton Neuroscience Initiative at the Wharton School of the University of Pennsylvania, to help bridge our understanding of how brain science is challenging and advising the business world. The Neuroscience Initiative, she says, is busier than ever doing projects with companies and collaborators. “It’s becoming increasingly known that analytics is going to be the future of business, so why not get to the root of how we think about things? Get to the Visual Marketing class to undergraduate students. Visual cognition is the way the brain responds to visual stimuli. Companies are better understanding visual cognition to build more effective marketing and advertising strategies. “A great example is the thumbnail [images] that streaming services like Netflix create to help you find the show you want to watch,” says Johnson. “They use the biological understanding of the human visual system to deconstruct all the frames of any given show so the thumbnails might be the most visually eye-catching. And then they take personal data on your preferences. If you really like romances or sci-fi, you’re more likely to be presented with a thumbnail that is both very visible to you, but also aligns well with your preferences.” Companies on campus. Neuroscience as it applies to business is “exploding around us” right now, observes Johnson, in part because the technology used to study brain function, even on the periphery, is less expensive. Heart-rate monitors, for example, give you insight into cognition. Conversation Starters Netflix’s use of visual cognition to appeal to customers is a fascinating combination of brain science and consumer behavior. What other strategies have you encountered, particularly online? Think about advertising and banner placement. How are marketers using where and how we observe things to more effectively capture our attention? Have you explored neuroscience at all? Possibly even neuroeconomics? What did you learn from the experience? Share your story in the comment section of this article. Would you study neuroeconomics? Why or why not? Do you believe in the transformative power of brain science for business?
