A Comparative Methodology of Supervised Machine Learning Algorithms for Predicting Customer Churn Using Neuromarketing Techniques

2. Overview Of Customer Churn Prediction In Neuromarketing

Customer churn refers to the occurrence when customers discontinue their association with a business or service provider and it holds significant importance in marketing as it affects organisations across various industries (Bhattacharyya, 2021). The connection between customer attrition and neuromarketing has been highlighted in relevant literature and discussions, although direct research specifically focused on this topic remains limited. Notably, studies such as Chaush (2022) on the examination of the impact of customer relationship characteristics on profitable lifetime duration and Kumar (2022) on analysis of customer relationship management offer valuable insights into customer churn, encompassing its definition, measurement and factors influencing customer retention. These studies emphasise the significance of comprehending client relationships and the duration of profitable interactions, which are essential considerations when implementing neuromarketing strategies.

Recent studies provide a critical analysis and outlook on “branding the brain” in the context of neuromarketing and consumer behavior (Chaush, 2022). These studies explore the use of neuroscience methods to comprehend consumer behavior, emphasising the use of cognitive processes, physiological measurements and neuroimaging to reveal subconscious reactions and guide marketing tactics. Although research on the importance of emotions in customer churn prediction do not explicitly incorporate neuromarketing approaches, they do highlight the relevance of these techniques. Chaush (2022) investigates how relationship constructs affect client referrals and the quantity of services acquired from a multiservice provider. Huang employs a machine learning approach to study how customer emotions affect churn prediction (Huang, 2020). These researches highlight the significance of emotional reactions in comprehending consumer behavior and their impact on attrition, offering information that may be investigated further through the application of neuromarketing techniques.