decision making and neuromarketing presented by: megan norby warren mui
TRANSCRIPT
What is Neuromarketing?
Neuromarketing: uses functional magnetic
resonance imaging, a brain-scanning device that
tracks blood flow as we perform mental tasks
Marketers measure consumers’ reactions to movie
trailers, choices about automobiles, the appeal of a
pretty face, and loyalty to specific brands
Why Expensive Wine Tastes Better
• Studied subjects’ brain
activity while they consumed
wine
Marketing can change how people value goods!
• Subjects were told how
expensive each wine was
before consuming it
• Subjects reported actually
experiencing a tastier wine
Importance of Product Positioning
Price is an important part of the experience
for a premium product/ luxury brand!
Experiential perspective: consumers buy based
on totality of product’s appeal
Heuristics: mental rules-of-thumb that lead to a speedy decision
Product Positioning: convincing consumers that
a product should be considered within a given
category
Perception Becomes Reality
Red Bull example
Self-fulfilling prophecy: we see
what we are looking for…
…almost as if we are tricking ourselves/ talking
ourselves into what the value of a product is
Nike Foamposite Galaxy