Purchase prediction and brand loyalty: Studying hedonic forecasting and reward to establish approach behaviors
Consumer behavior has been widely studied using different approaches; one of the most recent is neuroscience (Ariely and Berns, 2010). The study of the nervous system provides new questions and dimensions to study the consumer which were previously hidden and offers evidence to support the notion that decision making is not an exclusively rational process, rather many of our decisions and judgments are automatic and even irrational (Bodenhausen and Todd, 2010).
Also, in many cases, our behavior is biased by how the brain processes information. Simonsohn, Karlsson, Loewenstein and Ariely (2008) showed that information derived from direct experience or interaction is weighed more heavily than information obtained from observation. This is a clear example of how automatic our decision can be and why it is important to understand what mechanisms are involved in decision making.