Dr. Duru

    • Webinar: Mind Tricks: How the Brain Reacts to Price-Based Offerings

    This free webinar from the Stanford Graduate School of Business, Executive Education, looks interesting. I hope to post a review soon after attending:

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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.

     

     

     

     

      KEY TAKEAWAYS

     

      Based on insights gained through cutting-edge neuroscience research, the key takeaways will include:

    • The interplay of pricing and benefits in creating value
    • The hidden downsides of a price-based value proposition
    • An examination of the brain’s emotional circuitry and its impact on purchase
    • Findings from recent fMRI examinations of brain activity
    • Practical solutions for brand managers and marketers

     

    FACULTY SPEAKER

     

      baba shivBaba 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.