Influence of Price and Quality to Customer Satisfaction: Neuromarketing Approach

Abstract

The purpose of this article is to analyze literature and find out empirical evidence on product price and quality influence on customer satisfaction through neuromarketing approach. Customers’ satisfaction on their purchase is a significant factor that leads business to success. In recent times, customer satisfaction has gained new attention within the context of the paradigm shift from transactional marketing to relationship marketing. Even it is agreed in the literature that price and quality has high effect on customer satisfaction; still there is little empirical evidence exploring this relation. Almost nothing is known about the human neural mechanisms through which it affects the decisions made by individuals. So, in this article there are reviewed two neuromarketing study cases as neuromarketing provides qualitatively different information, ostensibly better quality comparing to that obtained by traditional methods. The whole article reveals that price and quality is an important factor for customer satisfaction which leads to marketing managers’ decisions complexity nowadays as markets are becoming more and more complex and overloaded.

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