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Studies Regarding Placebo and Nocebo Effect in Marketing

Author

Listed:
  • Doina Gurita

    (Lecturer Ph.D., †Petre Andrei†University of Iasi, Romania)

Abstract

The study that I will explain in this section represents a research made to demonstrate that marketing actions (pricing, for example) have the power to decrease the efficacy of the products to which they apply. In this case, placebo effect appears from expectations that the consumers have, a process that seemed to be not conscious. This study presents the impact that has a lower price for the consumers when they buy a product (such as an energy drink, designed to increase mental acuity) and shows that they might gain less benefit from consuming this product (for example they will solve fewer puzzles that usual) compared with the consumers that purchase and consume the same product with its regular price.

Suggested Citation

  • Doina Gurita, 2021. "Studies Regarding Placebo and Nocebo Effect in Marketing," Anuarul Universitatii „Petre Andrei” din Iasi / Year-Book „Petre Andrei” University from Iasi, Fascicula: Drept, Stiinte Economice, Stiinte Politice / Fascicle: Law, Economic Sciences, Political Scien, Editura Lumen, Department of Economics, vol. 28, pages 189-196, December.
    • Handle: RePEc:lum:rev11d:v:28:y:2021:i::p:189-196
    DOI: https://doi.org/10.18662/upalaw/75
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    References listed on IDEAS

    as
    1. Moty Amar & Dan Ariely & Maya Bar-Hillel & Ziv Carmon & Chezy Ofir, 2011. "Brand names act like marketing placebos," Discussion Paper Series dp566, The Federmann Center for the Study of Rationality, the Hebrew University, Jerusalem.
    2. Adaval, Rashmi & Monroe, Kent B, 2002. "Automatic Construction and Use of Contextual Information for Product and Price Evaluations," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 28(4), pages 572-588, March.
    3. Edell, Julie A & Burke, Marian Chapman, 1987. "The Power of Feelings in Understanding Advertising Effects," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 14(3), pages 421-433, December.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    marketing; change; marketing tools; placebo and nocebo; effect;
    All these keywords.

    JEL classification:

    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
    • M0 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - General
    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing

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