What is Neuroeconomics

As the academic interest about start-ups grows, researchers explore reasons behind start-up failures or success stories, and they aim to develop guides for entrepreneurs to succeed. Literature suggests that marketing is one of the crucial fields for successful start-up companies, among many others. Meanwhile, marketing researchers have recently been paying growing attention to applying neuroscience techniques into the marketing field. Even with the rising popularity of neuromarketing research, start-up companies still fall short of using new era marketing tools due to high costs, although they compete with established firms that massively employ neuromarketing techniques in their marketing mix. In this chapter, it is discussed how helpful neuromarketing techniques could be for entrepreneurs as the success of start-up companies depend on efficient allocation of their severely scarce economic resources, and it is argued that publicly supported start-up hubs, in coordination with universities, shall help develop collective neuromarketing researches for the sake of cost cutting.