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"You Win, You Buy"-How Continuous Win Effect Influence Consumers' Price Perception: An ERP Study
Qingguo Ma1,2,3,4, Linanzi Zhang1,5, Manlin Wang1
1School of Management, Zhejiang University, Hangzhou, China.
Frontiers in Neuroscience
|October 23, 2018
Summary
Consumer emotions significantly impact price perception and purchase decisions. This study used a simple game to show how winning or losing influences how people feel about prices.
Area of Science:
- Consumer Psychology
- Neuroscience
- Marketing Science
Background:
- Price is a key factor in purchasing decisions, influenced by consumer expectations.
- Emotions are prevalent in marketing and affect how consumers process purchases.
Purpose of the Study:
- To investigate if induced emotions influence consumer price perception and purchase willingness.
- To explore the use of a novel emotion-arousal method (Finger Play game) in marketing research.
Main Methods:
- An Event-Related Potentials (ERPs) experiment was conducted.
- Participants experienced continuous wins or losses in a two-player Finger Play game.
- This was combined with high and low price conditions to assess emotional and price perception effects.
Main Results:
- Behavioral data showed emotions significantly impacted price perception.
- Event-Related Potentials (ERPs) results corroborated the influence of induced emotions on price perception.
- Continuous win/lose experiences in the game demonstrably affected how subjects perceived product prices.
Conclusions:
- Emotional states, even from non-monetary games, profoundly shape consumer price perception.
- This research offers a new paradigm for studying emotion's role in consumer behavior and pricing strategies.