NeuroFocus

Last updated
NeuroFocus
TypeSubsidiary
Industry Neuroscience/Neuromarketing
Founded2005 in Berkeley, California
FounderAnantha K. Pradeep, Caroline Winnett, Robert T. Knight, Ram Gurumoorthy [1] [2]
FateAcquired by Nielsen Holdings [3] [2]
SuccessorNielsen NeuroFocus [4]
Headquarters Berkeley, California
ServicesNeuromarketing, Brain-wave research, Consumer research
Parent Nielsen Holdings

NeuroFocus was a neuromarketing and neuroscience research company founded in 2005 by a group of academics and engineers from UC Berkeley that focused on applying neuroscience, neurology, and neurological testing to a wide range of fields such as marketing, advertising, consumer research, branding, product development, and entertainment content. [1] In 2011, consumer research and analytics firm Nielsen Holdings acquired full ownership of NeuroFocus as part of the Nielsen's Product Innovation Practice. [2]

NeuroFocus primarily relied on building measures of response that were translated from brain waves collected through electroencephalographic (EEG) sensors that record electrical signals produced by the brain in response to stimuli. [1] Aside from EEG-based full brain measurements, NeuroFocus also makes use of other biometrics such as eye-tracking technology. [5]

History

The initial idea behind the company's founding came from Anantha K. Pradeep's encounter as a management consultant with a client who was concerned about the results of his firm's marketing efforts. [1]

Prior to its full acquisition by Nielsen Holdings, NeuroFocus was founded in 2005 by Anantha K. Pradeep, Caroline Winnett, Robert T. Knight, Ram Gurumoorthy in 2005, with Nobel Prize–winning neuroscientist Eric R. Kandel serving as an adviser to the company. [1] Pradeep and Gurumoorthy were both doctoral graduates from UC Berkeley and Robert T. Knight a professor of Psychology and Neuroscience at UC Berkeley as well as a professor of Neurology and Neurosurgery at UC San Francisco. [6] Co-founder Caroline Winnett, a graduate of Berkeley Haas School of Business served as the CMO (Chief Marketing Officer) of Nielsen NeuroFocus in 2012 and has been serving as the executive director of Berkeley SkyDeck since 2015. [7]

In 2008, Nielsen Holdings bought a minority stake of 30% in NeuroFocus as part of its strategic investment into neuromarketing. [8] [9]

In 2010, NeuroFocus acquired UK-based Neuroco as part of business expansion as NeuroFocus Europe Limited. [10] [11]

In 2011, Nielsen Holdings acquired the remaining portion of NeuroFocus to gain full ownership of the company after the British advertising firm WPP attempted to purchase NeuroFocus. Pradeep remained as the chief executive of the firm. [3] [2]

In 2014, NeuroFocus Europe Limited, the European and UK branch of NeuroFocus was dissolved. [11]

Related Research Articles

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References

  1. 1 2 3 4 5 "This is your brain on neuromarketing". Archived from the original on 2023-06-15. Retrieved 2023-06-15.
  2. 1 2 3 4 "Nielsen Acquires NeuroFocus: Leading Neuromarketing Firm Becomes Part of Nielsen's Product Innovation Practice" (Press release). 26 May 2011. Archived from the original on 2023-06-15. Retrieved 2023-06-15.
  3. 1 2 "A Nielsen Acquisition Focused on Brain Waves". 26 May 2011. Archived from the original on 2023-06-15. Retrieved 2023-06-15.
  4. ↑ "$22 Million Neuromarketing Technologies Market: Global Report 2015-2020 - Research and Markets" (Press release). 11 July 2016. Archived from the original on 2023-06-15. Retrieved 2023-06-15.
  5. ↑ Lawton, Graham. "Innovation: Market research wants to open your skull". New Scientist. Retrieved 2023-06-18.
  6. ↑ "Professor Robert Thomas Knight". Archived from the original on 2023-06-15. Retrieved 2023-06-15.
  7. ↑ "An Interview with Skydeck's Caroline Winett MBA '90". 17 September 2018. Archived from the original on 2023-06-15. Retrieved 2023-06-15.
  8. ↑ Elliott, Stuart (30 March 2008). "Tapping the minds of consumers". The New York Times. Archived from the original on 2023-06-15. Retrieved 2023-06-15.
  9. ↑ "Nielsen to Acquire NeuroFocus". 20 May 2011. Archived from the original on 2023-06-15. Retrieved 2023-06-15.
  10. ↑ "NeuroFocus Acquires Neuroco, Expands Neuromarketing in UK". 31 July 2010. Archived from the original on 2023-06-15. Retrieved 2023-06-15.
  11. 1 2 "NeuroFocus Europe Limited". Archived from the original on 2023-06-15. Retrieved 2023-06-15.
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