Neural anchor pricing

There are many methods of determining the price of the product. If we assume that the price of the product is subjective and depends on the emotions of the buyer, when determining the price you can use the anchor price. Combining the concept of anchor pricing with the achievements of neuroscience research method you can create a named anchor neutral pricing.

The concept of anchor pricing is shown in the figure below.

When customer purchasing any goods at the we observe two dominant emotional reactions depend on the price of pain and joy of shopping promotions. Buying pain is associated with the need to release a certain amount of money to purchase goods . Buying pain increases with the price of the good - the higher the price , the pain is greater ( we have to spend more money). The second reaction is the joy of promotion - the lower the price , the joy of the acquisition of goods is higher. At a given price level the sum of these reactions is the lowest - the customer making a purchase is the lowest level of emotional arousal and this is done almost automatically . This price level is called the neural anchor price . Quotation is the most advantageous because of the customer experience and its habits of purchase .

The concept of a neutral anchor pricing is a powerful and perspective neuromarketing tool, possible to use in research practice . Advantages of the method :

• Test results possible for direct use in pricing strategy

• Identify the level of customer response processes under natural conditions of purchase

• Comparability of results of research in the market segment

• Possibility of hybrid test - integration " conventional " methods of testing with neural anchor pricing