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Today in fascinating-slash-terrifying news, neurobiological marketing that will "read your mind" is being explored as a way for retailers to set appropriate pricing for products. Kai-Markus Müller, a German neurobiologist, has successfully tested the process and as a result of his research, believes that Starbucks isn't charging enough for coffee.
According to Spiegel, Müller tapped into "neuronal mechanisms" that measure "proportionality independently of reason." So for example, the same alarm that's set off when you try to mix something gross like orange juice and coffee will also go off when Starbucks coffee and too-high prices are mixed. These brainwaves are central to his research because humans can't turn them off, which is hardly comforting. "When the brain was expected to process unexpected and disproportionate prices, feelings of shock, doubt and astonishment manifested themselves," Müller explains.
He's determined that his local Starbucks in Germany could charge about 41 cents more than it was charging at the time. Müller is resolute that "everyone wins with this method" since it takes the guesswork out of pricing.
· Is Your Coffee too Cheap? Using Brainwaves to Test Prices [Spiegel]
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