Study on the Effect of Product Brand and Pricing Using Biosignals

Understanding the wants and needs of consumers is critical for assessing product demand and making strategic marketing decisions. Therefore, consumer behavior has been extensively studied through market analysis methods such as surveys and focus groups. However, these approaches have a number of flaws because they depend on answers that can be deceptive and easily manipulated. Neuromarketing, on the other hand, studies customer choices, desires, and motives by measuring physiological and neural signals. Neuromarketing has recently been shown to be successful in predicting customer behavior and product performance. In this paper, the effect of product brand and pricing on subjects' product preference is investigated using electroencephalogram (EEG), galvanic skin response (GSR), and heart rate variability (HRV) measurements.