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This study explores how red prices and unique fonts influence consumer memory of prices. Findings suggest men forget prices when in red, while women doubt red prices. The use of distinct fonts aids in product recall but hinders price memory. Furthermore, individuals disliking math favor expensive choices, indicating a link between price perception and computation. Understanding these cognitive biases can help businesses enhance customer interactions and pricing strategies.
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Loved the Deal but Forgot the Price! Raj Suri
Men Love a Deal When it is in Red! Value Interaction; F (1, 147) = 11.33, p < .01
Conclusion 1 • Women doubt red prices! • Men forget prices and love the deals when they are in red
$99.95 $99.95
Accuracy of Price Helvetica Accuracy Bradley
Conclusion 2 • Unique fonts make it easy to remember product information but make one forget its price
Low High Disliking Math Don’t Like Math ? You will be Biased & Recall Less • Recall Less • Price = Quality Accuracy 80% 51% 27%
Conclusion 3 • If you don’t like math: You will favor expensive choices.
Correlates for Price & Computation • It is all in the Post Parietal Cortex (P3-PZ).