Discover how to improve sales by applying the right discounts for the right products.

I Love cooking!

I literally spend hours in the kitchen every weekend preparing meals for my wife and kids;
and there is nothing more rewarding than watching them enjoy the meal so much that they ask for more.

I am not a chef, but there is one essential thing in cooking: high quality ingredients are necessary to bring out the authentic flavours of any dish.

So, what does my cooking have to do with neuromarketing? Well, everything!
More than the cooking itself; the connection lies in how my wife and I shop and pick items when we want to prepare a meal.

In today’s day and age, the most successful brands are the ones that deliver feelings and emotions. By stimulating senses (like sight, hearing, taste), emotions will be delivered and learning will be stimulated. This is very effective, because our senses are directly linked to the limbic part of our brain that is responsible for memories, feelings, pleasure and emotions.

Economic theory predicts that people’s spending activities do not vary with environmental conditions, such as seasons and weather-related factors. As neuromarketers, we know better than that. It’s hardly surprising we all pay more for ice cream during the summer and the sales of ice cold beers skyrocket when there’s more sunlight. The price dynamics of these nondurable goods make economic sense in the light of increasing demand. However, you wouldn’t expect to find such patterns in durable goods like art, but that’s not what science discovered…

Imagine you’re buying something at the vegetable market, organic carrots for instance. The price tag says it’s $2.00 for the carrots, which is twice the price you would pay for in the supermarket. You decide it’s too much and want to walk away. And then the owner of the market stand comes up to you and says: “Hold on, for you, the price is only $1.00!” How would you feel in this case?