As a seller, you try to aim for every product to be sold at the highest final sale price. But what most negotiators do not realize, is that the initial list price is the starting point for the negotiation. In other words: your opening offer is extremely important for the final sale price.
Current Topic: Strategy
Imagine walking through your local supermarket to buy some fruits and vegetables. We are automatically drawn to that intense red tomato because it looks a lot juicier and tastier than the ones that are pale red.
Sounds familiar? It probably is, because we learned from a young age that fruits and vegetables with richer colors are ripe and have a greater quality. This does not only apply to fruits and vegetables, but also to other food packages. We are, for example, subconsciously scanning for light colored packages when we would like to have something healthy. Our brains associate light colors with healthy options. However, this positive health indication does not always work out as positive as we expect it to be...
When looking at neuromarketing, a lot of emotions have been examined. One that may have been underexposed, is jealousy. Until now! A recent manuscript by Huang, Dong & Wyer Jr (2016) elaborates the role of jealousy in product preference. I bet you have encountered jealousy at least once in life, think about your partner having an intimate conversation with a man or woman you don’t know. Jealousy is an emotion that is encountered quite a lot in everyday life, and after reading this, you as a marketeer, can use this specific emotion to your advantage.
Consider the following scenario. You are walking through your city on a Saturday afternoon, looking to buy a new shirt. All of a sudden, a retail store of an expensive high-end brand catches your eye, with several beautiful high-class shirts in the storefront. You’ve never bought anything from this brand, but you really like it’s style and designs.
Enthusiastically you check how much one shirt costs and are shocked to find that the price tag of one of these shirts almost equals your entire weekly paycheck. Would you be ready to pay this enormous amount of money for a shirt from a brand you’ve never owned anything from?
Discover how to get consumers to buy more hedonic products by applying the right type of lighting. Research shows that blue lighting influences consumers in their motivation to buy more hedonic products.