CHAPTER 6
The Psychology of Price Shopping
For the past five years, we have invested our professional study time in the emerging field of neuromarketing. This fascinating field is the nexus of neuroscience, marketing, behavioral economics, and psychology. Researchers have been mapping the human brain to gain deeper understanding of humans’ perceptual and cognitive processes. One of the outcomes is a better understanding of the decision-making process. For salespeople, this insight is vital to understanding how customers make decisions.
A traditional view of economic decision making is that humans are calculating machines that seek to maximize the utility of their outcomes. Yet, humans persist in making decisions that fall short of their expected ...
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