Marketing Manipulation: The Ethical Dilemma of Neuromarketing

Since its emergence in the 1990s, the neuromarketing field has been rapidly expanding and growing. Evolving technological advancements and new neuroimaging techniques has provided extremely fruitful results for both the field, and related fields. Yet, an absence of regulatory guidance and for data collection and applications exists globally. The lack of a solid legal, or self-regulatory structure has raised consumers regarding consumer privacy, autonomy and the leverage of subconscious decision making. Consequently, consumers are facing increasingly common issues with fallacious advertising and puts customer confidence at risk. This paper aims to explore current neuromarketing methods and applications, and their ethical implications by analyzing the shortcomings of self-regulatory frameworks and current repercussions from the dilemma. Furthermore, this paper provides a theoretical framework for an improved form of self-regulation that additionally focuses on building trust between firms and consumers, providing an incentive for both sides rather than for consumers specifically. Addressing these ethical challenges is essential to prevent further issues or potential repercussions to endure the fields sustainable development and the protection of consumers.