Archive for July, 2008
Monday, July 28th, 2008
Please Your Guests by Fooling Them
Imagine that you are shopping for a few bottles of wine for your next dinner party. You probably aren’t going to buy from the cheapest selections. You don’t want your guests to think you are a cheapskate, or that you have such a low opinion of them that you’d serve them plonk. […]
6 Comments » - Posted in Neuromarketing by Roger Dooley
Wednesday, July 23rd, 2008
The Time Value of Bananas
We didn’t need Econ 101 to learn that a dollar in the future isn’t worth as much as a dollar today. Our brains knew that all along. And, as it turns out, monkey brains know it too. The Pure Pedantry blog has a lengthy post on research showing that monkeys have a high […]
No Comments » - Posted in Neuromarketing, Neuroscience Research by Roger Dooley
Wednesday, July 23rd, 2008
Clever Wine Marketing
How do you market a product that your customers know is bad before they try it, and which they may well dislike if they do? That’s the dilemma faced by makers of boxed wines - even those of high quality that would fare well in a blind tasting.
Wine is such a subjective […]
10 Comments » - Posted in Neuromarketing by Roger Dooley
Tuesday, July 22nd, 2008
Feeling Itchy?
I’m guessing marketers of products for itch relief, athlete’s foot, and the like already know this… but itching can be stimulated by seeing other people scratch, and even by images of itch-causing creatures like bedbugs. Last month’s Scientific American Mind had a interesting article on the neuroscience of chronic itching. Much of it […]
3 Comments » - Posted in Neuromarketing, Neuroscience Research by Roger Dooley
Monday, July 21st, 2008
Will Driving Habits Really Change?
Just about every news pundit on TV has declared that THIS is finally the oil price change that shocks Americans out of their gas-guzzling ways. It’s hard to argue with that logic. Trucks and big SUVs are piling up on dealer lots. Consumers looking to trade in one of those thirsty vehicles […]
2 Comments » - Posted in Neuromarketing by Roger Dooley
Friday, July 18th, 2008
Anchor Pricing Strategies
Here’s a scenario… You decide to venture into a cell phone store despite your reluctance to deal with a bewildering number of phones, options, plans, along with a confusing price structure. As usual, you find you’ll have to wait a bit for a salesperson. The greeter hands you a card with a big […]
3 Comments » - Posted in Neuromarketing, Neuroscience Research, Neuroeconomics by Roger Dooley
Monday, July 14th, 2008
Decoy Marketing
Need to sell more of a product or service? Here’s a counterintuitive idea: offer your customers a similar, but inferior, at about the same price. While it’s unlikely that they will actually buy the less attractive item, you may see a jump in sales of what you are trying to sell. […]
22 Comments » - Posted in Neuromarketing, Neuroscience Research by Roger Dooley
Friday, July 11th, 2008
Neuropolicy Center at Emory
Emory University has announced the establishment of a new Center for Neuropolicy. The focus of the entity will be on the intersection of brain science, individual decision making, and politics.
A new Center for Neuropolicy at Emory University will focus on how the biology of the brain influences decision-making in politics, policy and business. As […]
2 Comments » - Posted in Neuroethics, Neuroscience Research by Roger Dooley
Thursday, July 10th, 2008
The Power of FREE!
A few days ago, I wrote about the power of the word “New” to get our attention - if there’s a more potent attractor out there, it’s almost certainly “FREE!” For years, advertising gurus have listed “free” on every compilation of powerful headline words. Now, research conducted by Dan Ariely (a Duke behavioral […]
27 Comments » - Posted in Neuromarketing, Neuroscience Research by Roger Dooley
Monday, July 7th, 2008
Book Review: Predictably Irrational
Predictably Irrational by Dan Ariely does a great job of demolishing the idea that people make decisions in a rational manner. Ariely, a behavioral economist at Duke, describes dozens of experiments that show how we procrastinate, when we cheat, how we interpret prices (definitely a neuromarketing hot button), and much more. Ariely’s work […]
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