COULD GENETICS BE THE FUTURE OF MARKETING?

Abstract

This project¿s aim is based on exploring and opening the door to new possibilities and ways of using marketing, taking advantage of genetics. To be exact, this paper is all about

Genomarketing, the application of biological data (belonging to genetics science) which determines if the genetic nature of different consumers makes them more susceptible to distinct stimuli of publicity, more prone to buy certain brands or products, etc.

The success of a marketing campaign is directly related to a perfectly executed marketing segmentation, which allows brands to deliver a personalised customer experience, stretching the bond between the customer and the brand. As marketers, segmentation allows us to divide our customer base into subgroups which share specific characteristics among them, helping us with capturing the right clients¿ attention.

At present, there are four main segmentation types to segment audiences, those are demographic, psychographic, geographic and behavioural. All of them have advantages and drawbacks which will be covered in this paper but, What about adding a new way of segmenting and targeting based on genetic data?

According to the American Marketing Association, it is estimated that ¿more than 30 million customers have already taken a DNA test¿. This information obtained with the tests has an easy-access thanks to genetic data collection efforts funded publicly resulting in vast datasets containing genetic private information. The use that marketers can develop thanks to genetic data is using personalised advertising, tailoring messages and offers with the specific genetic preferences and predispositions of individuals.

Additionally, it has to be considered the implementation of strict regulations to ensure the necessary protection of an individual's privacy and also avoid misuse of that information. Privacy and consent policies should be applied