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Title: Mind Tricks: How the Brain Reacts to Price-Based Offerings
Host: Professor Baba Shiv
Date: Tuesday, June 23, 2009
Time: 8:00 AM – 9:00 AM (Pacific Daylight Time)
Registration: www.stanfordinnovation.com

In light of the current recession, the media is filled with stories of consumers favoring products that deliver a price-based value proposition. Recent scientific investigation concerning how the brain processes information throughout the consumer decision making process has uncovered many surprising findings. In fact, these findings counter the conventional wisdom surrounding the development of a successful customer value proposition.

Professor Baba Shiv, Professor of Marketing at the Stanford Graduate School of Business, will examine the customer value proposition from the perspective of the buyer decision making process.

Baba Shiv is Professor of Marketing at the Stanford Graduate School of Business. His research is in the area of consumer decision making and decision neuroscience, with specific emphasis on the role of emotion in decision making, the neurological bases of emotion, and nonconscious mental processes in decision making. His rece nt work examines the potential for nonconscious placebo effects related to pricing, showing for instance that the higher the price of a product (e.g., wine) that one consumes, the greater the pleasure one experiences as manifested by a higher level of activation in brain centers that code for pleasure. Your attendance will also give you a glimpse of the Strategic Marketing Management experience and will further demonstrate the value that our ten-day advanced management program can provide to you and your organization.