The definition of Neuromarketing is being extensively debated in the recent past and researchers are divided into two segments one considering it as a pure science field while others considering it as a business activity (Lee et al., 2006). While there is no doubt that it is a little bit of both and i.e. it is more likely a real business world practical implication of extensively researched scientific brain imaging techniques. There is also an argument regarding whether it should be considered as an academic field or it more or less confined to a business activity (Fisher et al., 2010). The most generalised definition of Neuromarketing till date is probably as follows: “Neuromarketing is widely defined as the science that uses MRI, EEG, TMS, MEG, fMRI, and other brain wave tools to view the human brain’s responses to marketing stimuli to figure out what customers’ thoughts are toward a product, service, advertisement, or even packaging to perfectly construct marketing campaigns that are based on the human brain’s response” (Hammou, K.A. et al., 2013).

Speaking conceptually, Neuromarketing research considers both qualitative and quantitative aspects of research methodology (figure 1). Qualitative aspects covers issues like the content, medium and mode of delivery of contents to customers and quantitative research stresses issues like duration of exposure of advertisement to the consumers etc.

For more details: please go through the paper:

https://www.researchgate.net/publication/260593933_Neuromarketing-_A_Step_Ahead_of_Traditional_Marketing_Tools

Conference Paper Neuromarketing- A Step Ahead of Traditional Marketing Tools.

Apart from very few exceptions, specifically today neuromarketing is not used for business strategies. Except for businesses that sell to other businesses conferences, saying that neuromarketing has become indispensable. This is primarily a field of academic research. I do not know if it will last long?

Neuromarketing is used in advertising and media as a pre-testing method for advertising executions, as well as being used in product and brand development in fmcg, by the relatively few big global corporations that can afford to use it. Biometrics in general is a controversial field in marketing, most obviously lacking ecological validity (to use Ulrich Niesser's term) when showing someone a visual ad while they are stuck in an MRI scanner. I personally feel that it is yet another example of science persuading marketing practitioners to part with their budget more effectively than it does consumers. The Lee article cited above is a good introduction (What is 'neuromarketing'? A discussion and agenda for future research. N Lee, AJ Broderick, L Chamberlain. International Journal of Psychophysiology 63 (2)   

@Chris Hackley , // Neuromarketing being used in product and brand development in fmcg//. How does it help is in product development and brand development ? How does it differ from traditional method of mapping consumer need recognition . 

I have noticed Neuromarketing techniques being used over the last few years within research examining the concept of Game Advertising to measure gamers response to advertising stimuli (see references below).

However, in my opinion these have offered little new insights into advertising effectiveness within this area that are beneficial for practitioners. Rather they come across as being more beneficial for academic researchers to get published due to the novelty involved in these methods. As such, I do not envisage these techniques to be widely adopted by marketers who look to utilise Game Advertising as they appear to offer little in terms of persuading consumers to purchase products advertised through this medium.

Examples of Neuromarketing being used within Game Advertising Research:

Jeong E J, Bohil, C J and, Biocca, F A, (2011), ‘Brand Logo Placements In Violent Games Effects of Violence Cues on Memory and Attitude Through Arousal and Presence’, Journal of Advertising, 40(3), pp59-72

Jeong, E J and, Biocca, F A, (2011), ‘Are there optimal levels of arousal to memory? Effects of arousal, centrality, and familiarity on brand memory in video games’, Computers in Human Behavior, 28 (2), pp 285-291

Gangadharbatla, H, Bradley, S and Wise, W, (2013), ‘Psychophysiological Responses to Background Brand Placements in Video Games’, Journal of Advertising, 42(2-3), pp251-263

Yoon, G and, Vargas, P T, (2013), ‘Seeing without Looking: The Effects of Hemispheric Functioning on Memory for Brands in Computer Games’, Journal of Advertising, 42(2-3), pp131-141

Hi, I would suggest you to have a look on "neuromarketing for dummies". It is easily available on Flipkart, Amazon(India) etc. It gives you the basics of neuromarketing. You can also have a look on its BR from   https://www.researchgate.net/publication/259866431_Book_Review_Neuromarketing_for_Dummies?ev=prf_pub

Article Book Review "Neuromarketing for Dummies"