Friday October 11, 2013

Using Brainwaves to Test Consumer Pricing

Are you thinking that what you are paying for a product is too high or maybe even too low? A German researcher has devised a method of testing your brain waves to find just the right price for the right product, pleasing both the consumer and the retailer in the process.

However, some consumers are likely to be horrified by what supporters of so-called neuro pricing are already calling a revolution in marketing: the determination of a feel-good price on the basis of brain testing in the laboratory.