Category: Uncategorized

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Hard Times May Make You More Likely to Gamble Away Your Money

Do people with bleak economic prospects hold more tightly to their money? No, they’re more likely to gamble it away, says a team led by Michael J.A. Wohl of Carleton University in Canada. In an experiment, people were more than twice as likely to gamble $10 on slot machines if they first read an article warning of an unstable economic climate, poor job prospects, and higher costs. Periods of hardship can lead people to make risky and detrimental financial decisions, the researchers say.

neuromarketingconsumer bah

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Do You Work Until You’ve Earned Enough, or Until You’re Just Too Tired to Work More?

In an experiment, people who were paid in chocolates for choosing to listen to unpleasant noises “overearned” by 6.48 chocolates, on average: They earned 10.74 but ate just 4.26 (they weren’t allowed to take any home), revealing a persistent tendency to mindlessly accumulate unneeded rewards, says a team led by Christopher K. Hsee of the University of Chicago. The researchers compare overearning to overeating: In the past, people earned so little that they were driven to earn as much as possible, but today, productivity advancements enable many to overearn, a behavior whose negatives include forgoing the pleasures of leisure and family time.

 

Tired_at_Work

SOURCE: Overearning

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Boomers and Seniors Favor the Web

Although the web is a somewhat recent phenomenon for baby boomers and seniors in the US, boomers now spend more time online than with any other form of media, including TV, and seniors are not far behind. Smartphones and tablets are playing a bigger role in the online activities of both boomers and seniors, who use the devices for a variety of activities, including to shop for purchases.
Marketing to boomers

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New show: Buying Nature

So we decided to re-package, use new concepts and start a new web TV show. We have combined 2 of our passions: NeuroMarketing and Nature.

This first episode explains NeuroMarketing.

We would really love your feedback!

 

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Brain Base Selling in the Food Industry

MOST people, including health and wellness companies miss this.

“By combining fats, sugar and salt in innumerable ways, food makers have essentially tapped into the brain’s reward system, creating a feedback loop that stimulates our desire to eat and leaves us wanting more and more even when we’re full.”

Here is an article from the New York Times that tells about some studies done about food marketing:

How the Food Makers Captured Our Brains

 

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Think before cutting inventory

Stores with heavy debts to pay off tend to cut back on inventory to save money, but such moves can have unintended consequences over time.

In the short run, losses might not be noticed because losing the sale of Heinz ketchup to a single customer may be overshadowed by what the store saved in inventory cuts. But significant losses are incurred over time if regular customers who did not find their Heinz decide to shop elsewhere rather than risk wasting their time at a store frequently missing what they desire.

“It’s not just about making a sale, but it’s about having enough inventory so that customers come back in the future,”

Cutting costs

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Math Anxiety Affects Consumer Preferences for Discounts

People who suffer from math anxiety prefer easier-to-process dollar discounts (“$10 off the regular price of $50”) over percentage discounts (“20% off”) and sometimes make suboptimal decisions because of that preference, says a team led by Rajneesh Suri of Drexel University. The math-anxiety effect gets worse when consumers are more highly motivated to process information, such as when a reward is offered. Math anxiety is a condition in which people fear situations requiring the use of math skills and harbor worrisome thoughts about math.

Math Anxiety Affects Consumer Preferences for Discounts