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

Author

Listed:
  • 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)

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.

Suggested Citation

  • Franziska Rumpel & Michael Knuth & Micheal Schaefer, 2008. "Neural correlates for price involvement in purchase decisions with regards to fast-moving-consumer-goods," FEMM Working Papers 08033, Otto-von-Guericke University Magdeburg, Faculty of Economics and Management.
    • Handle: RePEc:mag:wpaper:08033
    as

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    References listed on IDEAS

    as
    1. Dr. Peter Kenning & Hilke Plassmann, 2004. "NeuroEconomics," Experimental 0412005, University Library of Munich, Germany.
    2. Andre Gabor & C. W. J. Granger, 1961. "On the Price Consciousness of Consumers," Journal of the Royal Statistical Society Series C, Royal Statistical Society, vol. 10(3), pages 170-188, November.
    3. Jean-Noël Kapferer & Gilles Laurent, 1985. "Measuring consumer involvement profiles," Post-Print hal-00786781, HAL.
    4. Mittal, Banwari & Lee, Myung-Soo, 1989. "A causal model of consumer involvement," Journal of Economic Psychology, Elsevier, vol. 10(3), pages 363-389, November.
    5. Zaichkowsky, Judith Lynne, 1985. "Measuring the Involvement Construct," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 12(3), pages 341-352, December.
    Full references (including those not matched with items on IDEAS)

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