Does grouping products together into a single-price bundle increase the perception of value? Most of us would answer “yes,” but surprising new research shows there is at least one condition where such grouping can actually reduce the apparent value. In fact, the bundle may be seen as worth not just less than the sum of its parts, but less than the individual product! […]
Book Review: Neuromarketing: Exploring the Brain of the Consumer by Leon Zurawicki I’m constantly asked the question, “where can I study neuromarketing?” by those looking for an undergraduate or graduate degree that will enable them to find a neuromarketing job after graduation. It’s fair to say that academia hasn’t fully embraced neuromarketing as a field of study, but when that happens Leon Zurawicki’s Neuromarketing: Exploring the Brain of the Consumer will likely be the textbook. Zurawicki’s book explores the field in a thoughtful, well-researched, and well-documented manner. […]
Book Review: Brandwashed, Tricks Companies Use to Manipulate Our Minds and Persuade Us to Buy by Martin Lindstrom (branding expert and author of Buyology)
In Dietary Decoys, we saw that adding salads to a restaurant menu actually increased sales of french fries. Research in Taiwan exposes an equally odd fact: if we take a nutritional supplement like a multivitamin, we are MORE likely to exercise less and make unhealthy food choices. […]
Book Review: Spent: Sex, Evolution, and Consumer Behavior by Geoffrey Miller “Marketing is not just one of the most important ideas in business. It has become the dominant force in human culture.” This is how evolutionary psychologist Geoffrey Miller leads into an early chapter on the importance of marketing. In spent, Miller sets out to explain why humans buy the things they do. His perspective is based on the concept that compared to the time it took humans to evolve, our consumer society is so new that our brains are applying the skills developed for hunter-gatherer communities and applying them today. When we buy a Toyota Prius or Coach purse, we are still engaging in behaviors honed over the millenia on the veldt and in the forests. […]
“Green marketing” usually refers to using an environmental pitch to sell a product. A car creates less pollution, a paper product is made from recycled content, and so on. Results of appealing to environmental sentiment have been mixed. On one hand, the Toyota Prius has sold better than would be justified purely by the economics of the premium-priced vehicle. On the other hand, many people aren’t willing to suffer even a minor inconvenience in the name of the environment, as shown by the hotel towel experiment I described in Green Marketing Doesn’t Work. Beyond overt green marketing, though, some environmentally sound practices are simply good for business. One study shows that changing the retail lighting environment can be good for the environment AND boost sales: […]
Based on the title and cover art, which shows a head stuffed with objects, I anticipated that You Are What You Choose would be chock full of decision-making insights based on neuroscience and behavioral research. Instead, de Marchi and Hamilton mostly talk about their TRAITS system for categorizing individuals and then predicting subsequent behavior.