buying behaviour

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 barrier to purchasing is one more way to knock that potential buyer out of the funnel. The exceptions to this rule are some true luxury products.

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What Yogurt Can Teach Marketers

I’m not a big yogurt fan. “Live cultures” would be unacceptable (or even scary) in most foods, but are highly prized in yogurt. Nevertheless, we can all learn something from a neuromarketing study focused on the gooey dairy product.

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The Buying Brain by A. K. Pradeep

Review: The Buying Brain: Secrets for Selling to the Subconscious Mind by A. K. Pradeep

The world of neuromarketing seems to be shrouded in mystery. There are no university studies that prove one can improve advertising effectiveness or design better products using brain scans or biometrics. Virtually all of the neuromarketing research to date has taken place within private companies, who tend to release few details of their work both for competitive reasons and to protect client relationships. So, it was with great anticipation that I read The Buying Brain by NeuroFocus CEO, Dr. A. K. Pradeep. NeuroFocus, a unit of Nielsen, is the largest provider of neuromarketing services.

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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 decisions. This new work builds on previous research by Stanford’s Knutson and CMU’s Loewenstein which showed that purchase decisions could be predicted when subjects were shown explicit offers. Here’s the abstract:

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Recession What Recession – Xmas Spending as Usual

The guys at Vox Pops have issued a free video showing interviews with people talking about their spending intentions this Xmas. I hope the companyt doesn’t mind but I have added it to YouTube because I thought it contained some interesting messages.

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B2B Social Media Marketing: Branding or Lead Generation?

Social media can be many things: a place to network with friends, a way to follow market trends and monitor brand sentiment, a customer service tool for identifying unhappy customers. But is it a tool for demand generation? I believe the answer is yes, but that it requires a different mindset for lead generation and measuring ROI.

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Sustainability: What Matters Most?

I’m a big fan of analogies; one of my favorites is equating customer relationships with personal, romantic relationships. If you ask a woman about the kind of guy she wants to marry, she might say, “handsome, rich, successful and exciting.” Fast-forward a few years and we see whom she actually marries: maybe a nice, average, middle-class bald guy who happens to be the best listener and makes her feel special. Perhaps these attributes that tipped the scale were ones that she didn’t anticipate or know how to value until she experienced them.

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Considering the Mind: Mini-reviews of “Buy-ology,” “Free Market Madness,” “Management Rewired”

These three recently-published books take research on cognitive science and behavioral economics and apply it to business and public policy. A common theme – people aren’t particularly logical, and this has huge impacts on how they behave, yet our business practices and government regulations often ignore this.

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Order Effect Affects Orders

The last time you bought a product online, you probably went through a logical analysis of alternative products, prices, features, and so on. And perhaps you really did. Research shows, however, that we are actually far from rational when we buy stuff online - a fact that no doubt that comes as little suprise to Neuromarketing readers. In fact, the order of presentation can be a huge factor in our final decision.

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Get out of Marketing before 2021

by: Dick Stroud

If you believe Nielsen’s analysis, and I do, the combination of the ageing population, slowing birth rate and increasing ethnic diversity will change the face and buying patterns of consumers in the US.

2020 is a long way away and a lot can happen, between now and then, but these three developments are already occurring.

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