Mind Meld: NeuroFocus Buys Neuroco
The neuromarketing industry hardly seems mature enough to talk about consolidation, but California-based NeuroFocus, who claims to be the largest company offering brainwave-based marketing research, has concluded an agreement to purchase Neuroco. The latter firm is based in Surrey, England, and will continue operations as NeuroFocus Europe. According to their announcement,
Neuroco’s clients include Sky Broadcasting and 20th Century Fox, and others in the automotive, consumer packaged goods, beverages, leisure, and retail sectors.
EEG-based neurological testing as conducted by NeuroFocus and Neuroco measures brainwaves to capture consumers’ levels of attention, emotional engagement, and memory retention. Additional metrics for persuasion, awareness, and novelty are derived from this data. The neuromarketing field has grown exponentially in recent years, as major companies have discovered the unique strategic advantages that authentic neurological testing offers.
Both NeuroFocus and their new acquisition use a combination of EEG, eye-tracking, and galvanic skin response to evaluate consumer response to ads, products, and brands.
Neurofocus has financial backing from the Nielsen Company. Full announcement.