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…

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…

Five Keys to Selling to Spendthrifts

Neuroeconomics research suggests that roughly 15% of your consumers are "spendthrifts" - they have unusually low sensitivity to the pain of paying, i.e., the neural discomfort associated with parting with money. Selling to people who feel…

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…

Selling the Unsellable

Can you imagine a more difficult marketing task than selling books written by long-dead authors like Plutarch or Pliny the Younger to middle-class Americans? To make the challenge even more difficult, the books are priced well above most…

Neuromarketing Careers

Are you looking for a career in neuromarketing, or as some prefer to call it, consumer neuroscience? How should you pursue that goal? Is such a goal even a good idea? I'll try to provide answers, or at least some information that will let…