Search Results | "Buying Pain"

Godin’s Joy/Cash Curve and Buying Pain

Godin’s Joy/Cash Curve and Buying Pain

[photopress:price_joy.jpg,thumb,alignleft]A frequent topic here has been research showing that buying things, particularly items seen as being overpriced, activates the pain centers of the brain (see The Pain of Buying, Painful Sushi and Other Pricing Blunders, and Brain Scans Predict Buying Behavior). An interesting post by marketing guru Seth Godin looks at buying pain from a [...]

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The Joy of Giving vs. the Pain of Buying

The Joy of Giving vs. the Pain of Buying

We’ve covered the concept of buying pain here frequently, but haven’t seen much about how giving away money affects the brain. Two new studies shed some light on the neuroscience of charity and altruism. These studies indicate that the cerebral cortex, the area of the brain responsible for our most advanced cognitive functions, is involved [...]

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The Pain of Buying

The Pain of Buying

We recently reported on important new neuroeconomics research in Brain Scans Predict Buying Behavior. This study is the first that attempts to correlate fMRI brain scan data with actual purchasing behavior. George Loewenstein of Carnegie Mellon University, Brian Knutson at Stanford, and other researchers presented subjects with cash, put them in an fMRI machine to [...]

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Make Buying Difficult?

Make Buying Difficult?

Marketers expend a great deal of effort making it easy to buy their products. They expand distribution channels, offer financing alternatives, and when possible ensure the customer can leave with the product at time of purchase. After all, if you think of the sales process as a funnel (or perhaps a leaky funnel), every little [...]

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Painful Games Companies Play

Painful Games Companies Play

Does your company play painful games with your customers? I’m not talking about physical pain, but brain pain. More specifically, what has been termed buying pain or the pain of paying. According to research conducted by George Loewenstein of CMU and others, this pain is triggered when we are presented with a product and price [...]

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Princess Puts Pain into Cruising

Princess Puts Pain into Cruising

Regular cruise ship passengers almost always say that cruising is the least painful way to travel. Once you are on the ship, there’s no packing or unpacking as you visit new destinations, and you are pampered 24/7. Your cabin is straightened and cleaned several times per day, and an endless cornucopia of food is available. [...]

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Starbucks Trying to Cut Buyer Pain

Starbucks Trying to Cut Buyer Pain

As described many times here at Neuromarketing, paying for a product activates the brain’s pain center, particularly if the price seems too high to the person making the buying decision. Starbucks is the company that taught us that $5 for a cup of coffee (or at least for a skinny mocha peppermint latte with an [...]

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How To Increase Customer Pain

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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Cyber Monday Impulse Buying

Cyber Monday Impulse Buying

Cyber Monday is one of those recent inventions that seems a bit suspect. Is the Monday after Thanksgiving really the biggest ecommerce sales day? It looks like Cyber Monday will have to work hard to beat Black Friday, when reports indicate that shoppers spent over $500 million online. Just in time for the online sales [...]

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Penalty Pain: How to Make Your Customers Hate You

Penalty Pain: How to Make Your Customers Hate You

Neuromarketing readers are by now familiar with the idea of “buying pain” or “pain of paying” – when we buy something, the pain center in our brain can be activated. Work by Carnegie Mellon’s George Loewenstein and others shows that this effect is greatest when the price is perceived to be high or unfair. Buying [...]

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