Cognitive biases impact consumer preferences from "summary" of Neuromarketing by Patrick Renvoise,Christophe Morin
Cognitive biases play a crucial role in shaping consumer preferences. These biases are deeply ingrained in the human brain, influencing how we perceive and make decisions about the products and services we encounter. One key cognitive bias is the anchoring effect, where individuals rely heavily on the first piece of information they receive when making a decision. This can significantly impact consumer preferences, as the initial information provided can anchor their perception of value.
Another cognitive bias that influences consumer preferences is the availability heuristic, which leads individuals to overestimate the importance of information that is readily available to them. This bias can cause consumers to place greater emphasis on certain features or benefits of a product simply because they are more easily recalled. As a result, their preferences may be skewed towards products that are more prominently advertised or discussed in the media.
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