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The Latest Neuromarketing Insights

Goods versus Services: Why Buyers and Sellers Disagree

Goods versus Services: Why Buyers and Sellers Disagree

Suppose you want to sell a cupboard; how do you determine the price? You will probably compare prices with similar ones and how much the purchase price was. Buyers, in turn, will judge it on external features: how many drawers are there, what material is it made of? Yet often there is a difference in what the seller thinks a product is worth and what the buyer is willing to pay. This is also called the endowment effect (Thaler, 1980).

However, society is becoming increasingly technological, and more (digital) services are offered. Think, for example, of a platform like Amazon, a company specializing in data privacy, or the experience of going to a concert. How are these services evaluated? And more importantly, how big is the seller-buyer gap? Let’s dive in!


'Would you like a coffee with that?' How Buyers Spend Almost Double When Drinking Coffee or Tea Before Purchase

'Would you like a coffee with that?' How Buyers Spend Almost Double When Drinking Coffee or Tea Before Purchase

It’s early morning and you’re having your first coffee. Not too strong, not too weak. Just as you like it. You feel energized. Ten minutes later you’re on your laptop checking your emails and your social media. You decide to look at your Amazon account and see if your favourite coffee table is still available. Yes, it is, and it now includes free shipping! Add to cart. You’re now recommended luxury scented candles to match the table design. As well as beautiful decor items such as a chic lamp, a stylish vase and a set of artificial plants in pots that are way too expensive (even if water-wise)! Not a planned shopping spree, but you feel compelled to get them all. OK, done! Just four days until they’re shipped!

Wait, how did this happen? Did your coffee have anything to do with it? And if so, is coffee capable of making me shop more every time I have a cup of it?


The Surprising Impact of Front-of-Package Labels of Food Ads on Consumer Behavior

The Surprising Impact of Front-of-Package Labels of Food Ads on Consumer Behavior

It’s Saturday night and you’re watching your favorite show. As the show reaches a thrilling climax, it cuts to a commercial break, and that is when your eyes catch something extraordinary. You come across a mouthwatering food ad that stands out from the rest. The perfectly plated dish looks incredibly delicious. However as a health-conscious individual, you are curious about the nutritional information of this tempting meal.


How to unlock Gen-Z's Buying Potential using emojis

How to unlock Gen-Z's Buying Potential using emojis

Emojis have taken over how the world communicates online. From social media platforms to text messages, emojis have become an integral part of our daily communication. These little expressive icons have taken over our digital conversations. They add a splash of color, humor and personality to our messages making them more engaging and relatable. It’s amazing how a simple string of symbols can convey emotions and ideas, with just a touch of playfulness. 

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From Pixels to Emotion or Fake it Till You Make It: How AI-Generated Ads Impact Donation Intentions

From Pixels to Emotion or Fake it Till You Make It: How AI-Generated Ads Impact Donation Intentions

Do you know any of the people in these picture? 

 

Neither do I. Actually, I ‘created’ them using this AI-powered website: https://thispersondoesnotexist.com

These people do not exist. Yet the powerful realism of these faces has the ability to create the belief that they do relate to actual people. This may be a problem in consumers’ perceptions of a brand, especially for the charity sector. And we’ll see why.

 

 


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