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?