The aim of this course is to provide you with a sound understanding of the principles of marketing. In a nutshell, understanding marketing comes down to understanding your customers. Thus, even if you have no interest in pursuing a career in marketing per se, the knowledge and skills acquired in th...
SMM542
Intro to week 9
Dr Sabrina Gottschalk https://www.littlehotelier.com
,Where are we in the course?
, The power of price
What is a placebo effect? How does it usually work?
, The power of price
We know already that prices influence perceived quality.
So, can a price also induce a “real” placebo effect and influence the efficacy of
products? Would this also work with everyday consumer products?
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Measures:
• Subjective report of fatigue and cognitive capacity using surveys
• Actual cognitive capacity by letting participants solve a puzzle
Shiv et al. (2005), JMR
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