Neural correlates for price involvement in purchase decisions with regards to fast-moving-consumer-goods

Franziska Rumpel (), Michael Knuth () and Michael Schaefer ()
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Franziska Rumpel: Faculty of Economics and Management, Otto-von-Guericke University Magdeburg
Michael Knuth: Faculty of Economics and Management, Otto-von-Guericke University Magdeburg
Michael Schaefer: Faculty of Economics and Management, Otto-von-Guericke University Magdeburg

No 8033, FEMM Working Papers from Otto-von-Guericke University Magdeburg, Faculty of Economics and Management

Abstract: Some customers are loyal to their favorite brands, others easily switch between them. A new technique is available to assess differences in brand related behavior. We assume that price and brand-conscious participants show nearly the same activations in emotionally associated brain areas. Price-conscious participants also show an activation of cognitive associated regions. We employed functional magnet resonance imaging during a preference judgment task for fast mov-ing consumer goods. We discuss the results with differences in product and price specific in-volvement and advance that involvement of price-conscious participants is higher because of a higher price interest.

Keywords: internet Neuro market research; Involvement; Price Interest; Reward Circuitry (search for similar items in EconPapers)
Pages: 31 pages
Date: 2008-12
New Economics Papers: this item is included in nep-exp, nep-mkt and nep-neu
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