Placebos, Price, and Marketing

Hot on the heels of learning that more expensive wine tastes better, we find that more expensive placebos are more effective at controlling pain:

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Why Expensive Wine Tastes Better

For Neuromarketing readers, it’s not big news that the perception of wine drinkers is altered by what they know about the wine (see Wine and the Spillover Effect, for example). Now, researchers at Stanford and Caltech have demonstrated that people’s brains experience more pleasure when they think they are drinking a $45 wine instead of [...]

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How To Increase Customer Pain

Big companies often find great ways to aggravate their customers, and cell phone giant Sprint proves the point. John Wall of the Ronin Marketing blog posted a rant about Sprint’s advertising for their Centro Palm smartphone, Screw Your Customers. Wall was understandably miffed when he found out that the $99 advertised price for the phone [...]

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Five Keys to Selling to Tightwads

One out of four potential customers for your product may not buy it, even if the purchase makes economic sense or is otherwise a good decision. A couple of days ago, in Tightwads, Spendthrifts, and Everyone Else, I wrote about research that found people could be categorized by their spending behavior into three major groups. [...]

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