ERP Correlates of Simulated Purchase Decisions

Gajewski, Patrick D.; Drizinsky, Jessica; Zülch, Joachim; Falkenstein, Michael

doi:10.3389/fnins.2016.00360

Cited by 27 publications

(27 citation statements)

References 65 publications

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“…This finding was later replicated by an independent research team (Goto et al, ). Moreover, Gajewski, Drizinsky, Zulch, & Falkenstein () reported an enhanced fronto‐central N200 during purchase decisions regarding overpriced and underpriced items. However, most research on this component has focused on cognitive mechanisms related to but different than valuation, such as cognitive control, attention, novelty or sequential matching (Folstein & Van Petten, ).…”

Section: Prominent Candidate Eeg Featuresmentioning

confidence: 99%

A gateway to consumers' minds: Achievements, caveats, and prospects of electroencephalography‐based prediction in neuromarketing

Hakim

Levy

2018

WIRES Cognitive Science

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In the last decade, the field of consumer neuroscience, or neuromarketing, has been flourishing, with numerous publications, academic programs, initiatives, and companies. The demand for objective neural measures to quantify consumers' preferences and predict responses to marketing campaigns is ever on the rise, particularly due to the limitations of traditional marketing techniques, such as questionnaires, focus groups, and interviews. However, research has yet to converge on a unified methodology or conclusive results that can be applied in the industry. In this review, we present the potential of electroencephalography (EEG)‐based preference prediction. We summarize previous EEG research and propose features which have shown promise in capturing the consumers' evaluation process, including components acquired from an event‐related potential design, inter‐subject correlations, hemispheric asymmetry, and various spectral band powers. Next, we review the latest findings on attempts to predict preferences based on various features of the EEG signal. Finally, we conclude with several recommended guidelines for prediction. Chiefly, we stress the need to demonstrate that neural measures contribute to preference prediction beyond what traditional measures already provide. Second, prediction studies in neuromarketing should adopt the standard practices and methodology used in data science and prediction modeling that is common in other fields such as computer science and engineering. This article is categorized under: Economics > Interactive Decision‐Making Economics > Individual Decision‐Making Psychology > Prediction Neuroscience > Cognition

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Section: Prominent Candidate Eeg Featuresmentioning

confidence: 99%

A gateway to consumers' minds: Achievements, caveats, and prospects of electroencephalography‐based prediction in neuromarketing

Hakim

Levy

2018

WIRES Cognitive Science

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“…Neural studies also provided neuroscientific evidence that the activities in distinct neural circuits correlated with specific product cues and review cues when choosing online products. [10][11][12] These studies indicated a trade-off process between product price and online rating in an online shopping context, which required consumers to think carefully before making decisions.…”

Section: Introductionmentioning

confidence: 99%

<p>The Joint Influence of Online Rating and Product Price on Purchase Decision: An EEG Study</p>

Sun¹,

Zhao²,

Ling³

2020

PRBM

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Background: Consumers had to encounter and consider product-oriented and revieworiented cues before making an online purchasing decision. It was important to resolve how these cues influenced consumers' online purchasing decision. We also knew little about how the human brain processed these cues simultaneously, and which cue would occupy a dominant position in neural activity. The purpose of the present study was to investigate the neural correlates of online shopping decisions and how online rating and product price jointly influenced such purchase decisions. Research Method: Eighteen undergraduates were recruited to participate in this research. Each participant was exposed to all four experimental conditions combining 2 (product price: high vs. low) × 2 (online rating: positive vs. negative) with a total of 192 trials. They were required to rate the degree of willingness-to-pay. EEG data were obtained with 64 electrodes placed on the Easy Cap according to the International 10-20 system. We conducted both the event-related potentials analysis and the time-frequency analysis for the EEG data. Results: The behavioral findings indicated that products with positive rating and low price increased the willingness-to-pay. The EEG results showed that larger late positive potentials were elicited by products with low price compared with high price under positive rating condition, but not under negative rating condition, reflecting the modulated effect of online rating on the emotional arousal elicited by product price. Furthermore, we found larger alpha event related desynchronization elicited by products with positive rating compared with negative rating, indicating that more cognitive resources were allocated for products with a positive rating. Conclusion: Combined with behavioral and EEG analysis, our results emphasized the more important position of product rating compared with price. The findings deepened the understanding of the neural mechanisms underlying the online shopping decision process. More attention should be paid to online ratings on the webpage of the electronic store, because negative ratings made a product less appealing for prospective consumers regardless of price. Thus, the owners should build good reputations for their online products, which were fundamental to the consumers' online purchasing decisions.

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“…Cuthbert et al ( 2000 ) in our study, when subjects had continuous win or continuous lose experiences, higher arousing emotion intensity had been elicited compared with single win or single lose experiences. Gajewski et al ( 2016 ) used facial expression as stimuli in their study to analyze the neural correlates of a simulated purchase decision task. However, no significant effects were found by facial expression upon participants' neural process.…”

Section: Discussionmentioning

confidence: 99%

“You Win, You Buy”—How Continuous Win Effect Influence Consumers' Price Perception: An ERP Study

Zhang

Wang

2018

Front. Neurosci.

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Price played an important role in most purchases. Buying behavior was strongly determined by consumers' price expectations. Emotion as a research hotspot was demonstrated to be ubiquitous in marketing and influenced purchase processing as well. This study addressed interests upon whether emotion arousal would influence consumers' price perceptions and their willingness to purchase. Compared to such emotion researches which normally adopted emotional pictures as priming stimuli, we creatively employed a two-player “Finger Play” (FP) game without monetary gains or losses to arouse subjects' emotion in the experiment. A 2 (FP Game Results: Continuous Win vs. Continuous Lose) by 2 (Price Conditions: High Price vs. Low Price) Event-Related Potentials (ERPs) experiment was designed to investigate whether game results would arouse different emotions and influence subjects' perception of product price. Both behavioral and ERP results indicated that subjects' price perception was deeply impacted by emotions induced from continuous win/lose experiences.

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ERP Correlates of Simulated Purchase Decisions

Cited by 27 publications

References 65 publications

A gateway to consumers' minds: Achievements, caveats, and prospects of electroencephalography‐based prediction in neuromarketing

A gateway to consumers' minds: Achievements, caveats, and prospects of electroencephalography‐based prediction in neuromarketing

<p>The Joint Influence of Online Rating and Product Price on Purchase Decision: An EEG Study</p>

“You Win, You Buy”—How Continuous Win Effect Influence Consumers' Price Perception: An ERP Study

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