Bio-Marketing can be defined as a method to predict buying behaviour of a prospect customer subject, through biometrical IoT sensors readings.
If the human body is monitored when exposed on an external product or service stimuli, it can provide readings – like increase in Adrenaline, Cortisol, Dopamine, Melatonin, Oxytocin & Serotonin, respiratory changes in breath and others – impacting consumer behaviour (Aggrawal 2022). 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, 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 on predicting subject customer’s buying behaviour.
An earlier, more generic definition of bio-marketing – stating that in buying and selling interactions, hormones, genes and pleasure & pain signs can be explored from a biological perception – can be found on this 2021 publication (Fatoki 2021).
Aggrawal, vivek B, Biomarketing: Human Body As Marketing Engine (22 2, 2022). https://www.fintica.com/biomarketing-human-body-as-marketing-engine/, Available at: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4079030
Fatoki, Toluwase. (2021). Biomarketing: Understanding Brand Perception through Biological Process, and User-Friendly Materials and Platforms. 26. 32-38. 10.2478/bsaft-2021-0004, Available at: https://www.researchgate.net/publication/352514880_Biomarketing_Understanding_Brand_Perception_through_Biological_Process_and_User-Friendly_Materials_and_Platforms.
Research By Chris Sempos | 26/9/2022