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How value is perceived has a large influence on the purchase decisions of customers. Previous studies have focused mainly on the value perception of customers, but which role does the value perception of a seller play and what impact does it have on a sales conversation? Is the value of a product or service perceived equally by the seller and the customer or is there a significant difference?
In this research we will specifically focus on the tourism industry and find out how sellers and customers perceive the value of a package holiday. A total of 50 sellers and 100 customers participated in our survey and the results show, that there is a significant difference in the perceived value of the offered package holiday between sellers and customers. The sellers tend to perceive value lower than the customers and in addition, the sellers’ value perception is characterized by a lower variability. Furthermore, when it comes to estimating how the other side perceives value, our results show the opposite of what the respondents expected.
This research has the potential to provide an insight into the mind of the sales person and lead to a better understanding of sales psychology.
The interest in topics such as consumer behavior, consumer psychology, and decision-making in the context of marketing has increased in recent years, due to the rise in marketing spending, ineffective marketing campaigns, and product failures, giving way to the growing scientific field of neuromarketing.
This bachelor thesis proposes the implementation of a neuroscientific foundation in order to improve conventional marketing mix models. Firstly, this work intends to offer an overall understanding of the characteristics and techniques of conventional marketing and neuromarketing. Secondly, it explores the for marketing relevant brain areas in association with the importance of emotions. In addition, it analyses the connection between marketing activities and consumer behavior by putting forward the different arguments for its effectiveness of a neuromarketing foundation. Finally, the key learnings regarding the successful implementation of neuromarketing are discussed, based on the application of neuromarketing techniques as well as based on the Limbic® model from Hans Georg Häusel. The application of these two approaches is illustrated based on the 4Cs.
This thesis employed academic literature from several scientific fields and findings from brain research to develop a theoretical foundation for understanding the concept of neuromarketing in a business context. Various examples were used to identify the potential of neuromarketing and to analyze the strengths and weaknesses of conventional marketing methods and those of neuromarketing. The vivid examples and discoveries from brain research and the problems of conventional marketing support the statement that there is a need for something innovative to face the current issues. The thesis proposes the implementation of a neuromarketing foundation with the Limbic® model or with neuromarketing techniques such as eye-tracking to obtain greater insights into the consumer in order to improve marketing performance. The findings from brain research and consumer neuroscience indicate that there is significant scientific evidence to suggest that the application of neuromarketing would be an effective complement for conventional marketing methods and can create a competitive advantage.