Browsing Tag

george loewenstein

The Price of Everything by Eduardo Porter

Book Review - The Price of Everything: Solving the Mystery of Why We Pay What We Do by Eduardo Porter Looking for more novel pricing strategies for business, I picked up a copy of The Price of Everything by Eduardo Porter. Although I…

Unconscious Buying

In a fascinating study just published in the Journal of Neuroscience, researchers have shown that we make buying decisions even when we aren't paying attention to the products, and that fMRI observation of brain activity can predict these…

Five Ways to Sell in a Bad Economy

Some of my more popular posts over time have been those dealing with selling to two different customer groups: spendthrifts, who spend money freely, and tightwads, who don't part with their money easily. (See Five Keys to Selling to…

Bikinis, Babes, and Buying

Scantily clad women have been used to sell products to men for decades, and likely for millennia in one form or another. There's little doubt that the typical male brain is wired to respond to attractive females in revealing attire. But is…

CMU Computers Read Thoughts

Most scientists have dismissed the idea of reading minds using technology as pure science fiction, but Carnegie Mellon University researchers have moved a step closer to doing so. Not only have they been able to identify which of several…

Tightwads, Spendthrifts, and Everyone Else

Marketers love to segment their potential customers, and now there's a new way to do it: spendthrifts, tightwads, and everyone else. Research at Carnegie Mellon University shows that 40% of consumers can be classified as either spendthrifts…

Painful Sushi and Other Pricing Blunders

What's the worst way to sell something? According to Carnegie Mellon University economics and psychology professor George Loewenstein (see The Pain of Buying and Brain Scans Predict Buying Behavior), selling products in a way that the…