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

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Author Info

  • Franziska Rumpel

    ()
    (Faculty of Economics and Management, Otto-von-Guericke University Magdeburg)

  • Michael Knuth

    ()
    (Faculty of Economics and Management, Otto-von-Guericke University Magdeburg)

  • Micheal Schaefer

    ()
    (Faculty of Economics and Management, Otto-von-Guericke University Magdeburg)

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    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.

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    File URL: http://www.ww.uni-magdeburg.de/fwwdeka/femm/a2008_Dateien/2008_33.pdf
    File Function: First version, 2008
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    Bibliographic Info

    Paper provided by Otto-von-Guericke University Magdeburg, Faculty of Economics and Management in its series FEMM Working Papers with number 08033.

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    Length: 31 pages
    Date of creation: Dec 2008
    Date of revision:
    Handle: RePEc:mag:wpaper:08033

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    Web page: http://www.ww.uni-magdeburg.de
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    Related research

    Keywords: internet Neuro market research; Involvement; Price Interest; Reward Circuitry;

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    1. Dr. Peter Kenning & Hilke Plassmann, 2004. "NeuroEconomics," Experimental, EconWPA 0412005, EconWPA.
    2. Mittal, Banwari & Lee, Myung-Soo, 1989. "A causal model of consumer involvement," Journal of Economic Psychology, Elsevier, Elsevier, vol. 10(3), pages 363-389, November.
    3. Zaichkowsky, Judith Lynne, 1985. " Measuring the Involvement Construct," Journal of Consumer Research, University of Chicago Press, University of Chicago Press, vol. 12(3), pages 341-52, December.
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