From the course: Neuromarketing: Tap Into your Customer's Primal Brain

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Minimizing pricing pain to get the sale

Minimizing pricing pain to get the sale

From the course: Neuromarketing: Tap Into your Customer's Primal Brain

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Minimizing pricing pain to get the sale

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- I was speaking at an executive conference in Miami Beach and decided to get some lunch in the hotel restaurant. It was an interesting fusion menu with lots of yummy options. And then I realized that they were using neuro-marketing on me. See if you can spot the technique. Here is their menu. Next to each item, were at tiny elegant little numbers, 14, 15, 29, 36. Have you ever noticed that many high-end restaurants use the same format? None of them put the dollar signs in front of the price. That's because their prices are very high. From an evolutionary perspective, there are no special drawers in your mind to hold abstract concepts like money or price. Your brain reuses existing machinery. In fact, spending is experienced by many of the same parts of the brain as physical pain. Money is finite and helps you by providing food, shelter, mating opportunities. The spending of money is therefore experienced as a…

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