Either corporate America doesn't believe the hype surrounding neuromarketing or their marketing departments don't understand what "neuromarketing" means. My bet it is more the latter than the former. Regardless of the reason, the lack of interest in neuromarketing caused the first neuromarketing conference to be cancelled this week:
Thank you for your interest in Neuromarketing 2004. Unfortunately, the interest expressed about this meeting exceeded the actual number of participants who signed up. This number was too small for the meeting to be economically feasible. We expect this nascent field to grow quickly, and hope to have sufficient participation to support our meeting next year.
Conference organizers had even put together an all-star group of neuroeconomic researchers that included:
-P. Read Montague, PhD - Director, Human Neuroimaging Lab, Baylor College
-Steve Quartz, PhD - Director, Social Cognitive Neuroscience Lab at Caltech
-Kevin McCabe, PhD - Prof. Economics and Law at George Mason University
-Paul Zak, PhD - Director, Center for Neuroeconomics,Claremont Graduate U.
-Brian Knutson, PhD - Assistant Prof., Psychology and Neuroscience at Stanford
-Colin Camerer, PhD - Professor of Business Economics at Caltech
-Samuel McClure, PhD - Fellow at Princeton University
-Ronald Fisher, MD, PhD - Director of Nuclear Medicine, Baylor Hospital
-Clint Kilts PhD - Vice Chair for Research, Department of Psychiatry and Behavioral Sciences of the Emory University School of Medicine
If you really think about it, how many marketing or advertising executives do you know that have a background in neuroscience. As I've said before, as brain imaging advances, neuromarketing will become a significant growth sector in years to come as the trillion-per-year advertising and marketing industries leverage brain scanning technology to better understand how and why people react to different market campaigns. If you know any highly energetic, experience business executives with neuroscience degrees, have them give me a call. I've got a few companies that are interested in talking with them.
Update: What Brand Are You? My first brand was "Pro-Performa" which means "hitting the wall" my second was "Tenax" meaning "calm chaos collectively collaborated".