Escola Superior Propaganda e Marketing & Universidade de Caxias
The Influence of Price on Purchase Intentions: Comparative Study between Cognitive, Sensory, and Neurophysiological Experiments
Price is considered one of the most important attributes in consumer’s choice. On the other hand, consumer’s knowledge about price tends to be imprecise. This study aims at providing new insights analyzing consumers’ perception of retail store brand (focused on Skin Care Products) comparing with two other skin care products, a premium, and a popular national brand. Second, to analyze the association price versus quality variables in the purchasing decision process. Third, to demonstrate the influence of both, unconscious and cognitive process during the purchase choice intention. Through Neuromarketing tools and protocols (quantitative and qualitative), the study exposes participants to a blind test of the three products and asks participants to talk about their sensory impressions like scent, feelings, and products texture. Using facial electromyography (EMG) and eye-tracker devices we measured consumers’ responses when we introduced price and brand name variables, by this way comparing unconscious and cognitive responses. The findings showed that an unconscious decision could be change when new variables were revealed. The study showed how conscious price variable was the major influence in their purchase intention.
For neurophysiological measurements, a biometric iMotions Platform was used, which has eye-tracking equipment Tobii 4.0 60 Hz, which monitors and describes the ocular movement of people, indicating which stimuli attract the most attention of an individual and providing the path that the participant’s eyes take when facing these stimuli, being therefore ideal for this study
Keywords: store brands; consumer perception; brand recognition; eye-tracker; facial reader