SINGAPORE - Singapore Press Holdings (SPH) has teamed up with neuroscience technology company NeuroTrend - the Singapore-based entity of JSC NeuroTrend (Russia) - to launch a neuromarketing consumer insights lab in Singapore, both companies announced during a memorandum of understanding (MOU) signing on Tuesday (March 6).
The Neuromarketing Lab, NeuroTrend's first established lab outside of Russia, will be located on SPH premises to cater to the media company's clients. This next-generation lab, which can simultaneously process five respondents at a time, will use neuroscience to help marketers gain a better understanding of consumer behaviour.
Participants who take part in the lab exercises will be fitted with non-invasive hardware, such as an eye tracker, a wireless headset, a polygraph, and a facial reader camera. The hardware will collect an integrated set of signals from the brain, eye movements, facial expressions and other physiological measurements, said NeuroTrend.
NeuroTrend's patented neuroscience software - through algorithms and Big Data - will then analyse the information obtained and generate a report. This report will advise the media company on how a print or video advertisement can be optimised for maximum impact.
NeuroTrend chief executive Natalia Galkina said: "Globally, neuromarketing is the new frontier in the advertising industry helping companies to optimise their marketing dollars and we are glad to bring it to the global stage from Singapore."
She added: "It is today considered a serious research area that is scientifically sound, genuinely interesting field in cognitive science, where the response to products and consumer decision-making is understood on the level of body and mind."
Mr Ignatius Low, SPH's head of media solutions and integrated marketing, said that the company is innovating and offering new technologies and media products to better serve its advertisers.
He said: "The customer insights and intelligence generated will add value to their marketing strategies and campaigns, helping them to effectively target and engage their audiences across our multiple media platforms."