When people in an experiment were shown two DVD players, 32% indicated they would buy one of the brands and 34% chose the other. But when the participants were shown a single DVD player, only 9% or 10% (depending on which brand they saw) said they would purchase the product, says Daniel Mochon of Tulane University. Retailers should bear in mind that consumers have an aversion to being offered just a single option, he says. Even if they can find an option they like, they may be unwilling to purchase it without considering similar options first.
What is Brain Based Marketing?
What is Brain Based Marketing? is the topic of your new episode of Buying Nature TV.
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Pronoun Use Reflects a Rising U.S. Individualism
Between 1960 and 2008, the number of uses of “I” or “me” increased 42%, and instances of “we” or “us” declined 10%, in hundreds of thousands of American books, both fiction and nonfiction, studied by Jean M. Twenge of San Diego State University and a team of researchers. The rise of the singular pronoun and the decline of the plural are consistent with what has been described as an increasing level of individuality in American culture over the last half-century, the researchers say.
In Recessions, Women Seek to Become More Attractive
Women who had read a vivid article describing growing unemployment and increasing scarcity showed a stronger desire (6.19 on a 7-point scale) to purchase lipstick, form-fitting jeans, and form-fitting black dresses, in comparison with women who had read a neutral article (4.97 on the same scale), says a team led by Sarah E. Hill of Texas Christian University. In tough economic times, women appear to increase their attractiveness as a way of finding mates with financial resources. Recession fears prompted no such desire among men to enhance their attractiveness, the researchers say.
Chewing Gum Makes Time Pass More Quickly
At the beginning of a 30-minute computer-based vigilance task, the average reaction time of participants who were chewing gum was about 70 milliseconds slower than that of non-chewers, but by the end, it was about 100 milliseconds faster, suggesting that chewing gum can stem a decline of vigilance over a long task, says a team led by Kate Morgan of Cardiff University in the UK. Gum chewing has been shown to increase blood flow to the frontal-temporal region of the brain.
Counting Down Makes Time Pass More Quickly
When research participants were asked to give a hand-exercise ball 25 squeezes, the time required for the task felt 20% shorter to those who counted down from 25 to 1 than to those who counted from 1 to 25, say Edith Shalev of Technion Israel Institute of Technology and Vicki G. Morwitz of New York University. In a related experiment, people who squeezed a hand grip while counting down, rather than up, had a more favorable attitude about the product and expressed a greater willingness to buy it. Counting down may seem more exciting than counting upward, and the distraction may decrease time judgments, the researchers say.
Transforming a business
Here is another episode of Buying Nature Tv
What is the difference between change and transformation in business? Shahar and Nashlah will show you the answer plus the best in Brain based selling and consumer behavior to market your business. Check back every week!
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The impact of color on consumer behavior
Great video on the impact of colors on consumer behavior.
Rajesh Bagchi, associate professor of marketing in the Pamplin College of Business at Virginia Tech, and co-researcher Amar Cheema from the University of Virginia study how red and blue background colors on websites or on the store walls influence consumers’ willingness to buy. Their research looked at the impact of color on three settings: auctions, negotiations, and fixed-price settings, such as retail stores.
Narcissistic CEOs Take Bold Action When There’s an Appreciative Audience
Highly narcissistic CEOs were nearly 3 times more likely than very un-narcissistic leaders to take bold steps to embrace potentially disruptive technologies when media interest in the disruption was high. But when interest was low, the narcissistic CEOs showed no such heightened propensity to act, says a team led by Wolf-Christian Gerstner of the University of Erlangen-Nuremberg in Germany. The research, which analyzed the U.S. pharmaceutical industry when biotech was disrupting it, measured such actions as acquisition of biotech firms as a function of CEO narcissism (calculated by factors including the leaders’ prominence in annual reports). Narcissistic CEOs, who crave admiration, tend to take bold action when there’s an audience that is likely to see their actions as daring, the researchers suggest.
NeuroMarketing tip: Creating contrast in the Market
You need to create contrast between you and your competition. You also need to be approachable and not too serious.
Here is an example on achieving the 3 points above. It is a bank in Australia on their about us page
