A NEUROMARKETING STUDY ON MONGOLIAN CONSUMERS’ BUYING DECISION PROCESS

Abstract

There has been almost 20 years since science of marketing has developed in Mongolia and there has been significant progress in acquiring and using it. Business companies’ leadership have become aware of the importance of this science and see marketing as business philosophy and understand that analyzing the market, business environment and conditions by consumers is the key to success.
Today’s society demands from marketing professionals’ delicacy and taking into account consumers’ needs and creating new needs and new means of consumption. Main purpose of business entities is to be aware of consumer needs, to establish its position on the market and to be successful. In order to provide consumers with the best products and keep them at the center of their attention it is important to establish optimal ratio of marketing factors that would most efficiently influence consumers with different behaviors.