Predicting the immediate and subsequent effects of commercials on product valuation using EEG and deep learning
Neuromarketing mainly seeks to enhance the prediction of marketing stimuli success, such as commercials and movie trailers, by integrating neurophysiological measures with traditional behavioral measures. In the current study, the authors tested whether neural activity could predict consumer valuation and how preferences change after watching commercials, both immediately and over time. Participants (n=161) watched images of products followed by commercials advertising those products while their neural activity was recorded using electroencephalograph (EEG). They watched the product images again a week later without EEG recordings. Immediately after each stimulus exposure, participants stated their willingness to pay (WTP) for the product and how much they liked the commercial. Standard EEG measures showed weak and inconsistent relationships with behavior and yielded near-chance predictions. In contrast, deep learning models applied to the raw neural data achieved substantially higher predictive accuracy, successfully predicting both immediate and delayed WTP and ad liking. Importantly, the authors were able to successfully predict preferences for new participants and/or new products the models were not trained on. However, accuracy declined as generalization demands increased. Moreover, prediction performance declined as value differences narrow. Together, these findings show that neural responses carry reliable and temporally persistent information about consumer valuation and its evolution over time.