This document discusses neuromarketing and how it can inform e-commerce development. It covers topics like why people make purchasing decisions, models of consumer decision making, whether people are truly rational, and how the brain works emotionally and unconsciously. Key points about neuromarketing include how people respond more favorably to deals framed around pain/paying versus pleasure/gaining, the power of decoys, anchoring effects, focusing on one thing at a time, perceiving free options as more valuable, and following what others do through social validation.

1. Neuromarketing
New trends in neuro-sell and ecommerce

2. My background

3. About open-ecommerce

4. Our role in a e-shop
development
By Swapnil Chafale

5. Why people take the decision to buy
something ?
Basic Needs
Convenience
To replace something
Scarcity
Status
Lower prices
Name recognition
Compulsory Purchase
Peer Pressure
Reciprocity or Guilt
Empathy
Addiction Indulgence

6. Models
Consumer Decision Process Model
Black Box Model
Psychoanalytic Model
Learning Model
Sociological Model
Nicosia Model (1966)
Howard Sheth Model
Andreason Model (1965)
Engel Kollat Blackwell Model (1972)
Shethnewman Gross Model (1991)
Consumer Behaviour

7. Are we rational?

8. Emotional Brain
conscious vs unconscious

9. The new way to sell marketing?

10. How we know about the brain

11. fMRI
(Functional magnetic resonance imaging)

12. Functional magnetic resonance
imaging

13. EEG (Electroencephalogram)

14. EEG

15. Biometrics

16. Key points in Neuromarketing

17. Pay = Pain

18. The use of a decoy to promote a
product
Offer A:
$59 – Internet Only Subscription (68 chose)
$125 – Internet and Print Subscription (32 chose)
Predicted Revenue – $8,012
Offer B:
$59 – Internet Only Subscription (16 chose)
$125 – Print Only Subscription (0 chose)
$125 – Internet and Print Subscription (84 chose)
Predicted Revenue – $11,444

19. Mental Boxes
We take decisions in relative terms

20. Anchoring effect

21. One thing at the time

22. Free is better than a bargain

23. People look to others
to see what they should do

24. Limited availability

25. Similarity

26. Tell stories

27. Authority

28. scarcity

29. authority

30. Social validation
Free delivery

31. Simplicity
Engaging emotions

32. Anchoring
Scarcity

33. A/B Testing

34. Thank you!!!
Any questions?