1. Research the marketing research industry to identify research companies that would be in the target market for fMRI equipment. How many companies make up this market? (AACSB: Communication; Reflective Reasoning)

2. Refer to Appendix 2, Marketing by the Numbers, and use the chain-ratio method to estimate the market potential for Fmri machines among marketing research firms. What factors would you consider when determining the potential number of buyers (that is, research firms) that are willing and able to purchase fMRI machines? Assume a firm purchases one machine at an average price of $1 million in your market potential estimation.

Functional magnetic resonance imaging technology (fMRI) is making its way into the marketing research field, opening up a new market for this high-tech medical equipment. Using functional MRI technology, or fMRI, marketing researchers can literally see a brain in action when consumers view an advertisement or sample a product. A study in 2004 revealed that different parts of consumers' brains were activated when sampling a product with or without knowing the brand. When consumers tasted a soft drink without knowing the brand, their brains showed activity related to taste and they preferred Brand A. However, when subjects were shown the brands, a different area of the brain was activated and more consumers preferred Brand B, suggesting that advertising and marketing can activate different areas of consumers' brains and cause them to prefer specific brands. Several large marketing research firms such as Nielsen now offer neuroscience marketing research services.