Shopper Insights: Mental Budgets
2/25/2010
| When: |
2/25/2010
From 3:00 PM until 4:30 PM EST
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Where: |
Online
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Contact:
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Savia Coutinho
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| Registration Information |
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Online registration is closed.
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| Research suggests that consumers have mental budgets for grocery trips that are comprised of both an itemized portion and in-store slack. The itemized portion is the dollar amount that the consumer has allocated to spend on items planned to the brand or product level. The in-store slack is the portion of the mental budget that is not assigned to be spent on any particular product but remains available for unplanned purchases. So what happens to the mental budget when a planned product is on sale? And which variables influence in-store slack? Jeff Inman, from Katz Graduate School of Business at the University of Pittsburgh, discusses his research findings on mental budgets and provides implications for how marketers can benefit from an understanding of mental budgets. |
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