This document discusses neuromarketing and how neuroscience can be applied to better understand consumer behavior. It notes that traditional market research methods are limited because people don't always act in line with their thoughts and feelings. Several studies are summarized that show people have different preferences when blindly tasting products like Coke vs Pepsi compared to when the brands are visible. The document argues that combining neuroscience, algorithms, and improved research design can provide more accurate insights into how the brain reacts and predicts consumer behavior, outperforming classic market research methods. It introduces several neuroscience and marketing experts and gives examples of how measuring brain activity at different price points can reveal the optimal price for a product.

2. „Half the money I spend on advertising is wasted;
the trouble is I don't know which half.“
John Wanamaker,
Marketing Pioneer
1920s

3. Interviews, focus groups, questionnaires
etc.

4. „The trouble with market research is
that people don’t think how they feel,
they don’t say what they think
and they don’t do what they say.”
David Ogilvy, Werbeguru
1960s

8. I FEEL,
therefore I
am.
António Damásio,
Neuro scientist
2000s

9. 2004:
THE Pepsi/
Coca ColaTest

10. 50% 50%vs.
Brand Preference (1)
Quelle: Neuron, Read Montague, Vol. 44, 379–387, October 14, 2004
Blind test

11. 75% 25%vs.
Brand preference (2)
Quelle: Neuron, Read Montague, Vol. 44, 379–387, October 14, 2004

12. Quelle: Neuron, Read Montague, Vol. 44, 379–387, October 14, 2004

14. NEUROMARKETING &
CONSUMER BEHAVIOUR

15. • Neuro Science
• Advertising KNOW HOW
• Algorithms
• Research design
Prof. Dr. Victor Lamme
Martin C. de Munnik

16. • Neuro science
• PRICING KNOW HOW
• Algorithms
• Research DESIGN
Dr. Kai Müller

17. • Infrastructure
• Test persons
• Marketing KNOW How
• Interpretation
Mag. Erwin
Hemetsberger, MBA

18. Prof. Dr. Alexander Maier, PhD, Assistant Professor of Psychology, Vanderbilt University
 Expert in Brain Data Analysis
Prof. Dr. Dino Levy, PhD, Assistant Professor of Neuromarketing and Neuroeconomics, Tel-
Aviv University  Expert inNeuroeconomics and fMRI
Prof. Dr. Victor Lamme, MD, Professor of Cognitive Neuroscience, Amsterdam University
 Expert in Neuromarketing, Neuroeconomics, fMRI and EEG
Prof. Dr. Steven Scholte, PhD, Associate Professor of Cognitive Neuroscience, Amsterdam
University  Expert in Neuroeconomics and fMRI
Prof. Dr. Konrad Zerr, PhD, Professor of Marketing Research, Pforzheim University
 Expert in Marktet research
Prof. Dr. Christoph Braun, PhD, Professor of Behavioral Neurobiology, University of
Tuebingen Expert in MEG
Prof. Dr. Hubert Preissl, PhD, Assistant Professor, University Clinics Tuebingen
 Expert in MEG and fMRI
Prof. Dr. Uwe Ilg, PhD, Professor of Neuroscience, University of Tuebingen
 Expert in Brain Data Analysis and Eye Tracking
Prof. Dr. Stefan Hencke, D.Eng., Professor of Marketing, Trier University of Applied Sciences
 Expert in Marketing and Communications Strategy
Und dann gibt ES DA noch …

19. + + =

20. Mean values
Test results
Standard deviation

21. 85% EFFIE -
Forecast
80
90
100
110
120
Involvement
Familiarity
Value
Trust
Expectation
Lust
Desire
Attention
Novelity
Fear
Anger Disgust
Danger
Effies (most effective advertisement),
Goldene Lion (most entertaining
advertisement)
Lead Lion (most annoying advertisement)

22. + + =

23. Hirnaktivität
Optimum
Preis [€]
Quality
doubts!
Shock –
Price rigging!
1,90 €
Weak
reaction
Strong
reaction
0,10 €
2,40 €
9,90 €
Brain
reaction at
2.40 €
2,40 €

24. € 0.05 € 0.95 € 4.65Price
Percent
Latte
Macchiato -
Experiment
Questionnaire
54% buyer readiness at
€ 0,95
31% buyer readiness at
€ 0,95
EEG
0%
50%

25. € 0.05 € 0.95 € 4.65Price
Percent
Actual consumer behaviour
27% buyer readyness
at € 0,95
Latte
Macchiato -
Experiment
0%
50%

26. Our clients

27. 50%
65%
85%
50%
35%
15%
Predictability
No market
research

28. 50%
65%
85%
50%
35%
15%
Predictability
Classic market
research

29. 50%
65%
85%
50%
35%
15%
Predictability
NEW
market research

31. www.excentric.at