IDLab Workshop

Daria Semenova presented the study "Neuroeconomics of Willingness to Pay for Coca-Cola".

In March 2022, the Coca-Cola Company announced the suspension of activities in the Russian market, which caused a noticeable revival among competing companies due to the potential release of a significant share of the Russian soft drink market. In connection with this situation, the relevance of the issue of consumer perception of analogue brands of Coca-Cola has increased many times over. Therefore, the purpose of this work is to analyze the factors influencing consumers’ willingness to pay for Coca-Cola, and the scientific novelty lies in the application of neuroeconomic tools, in particular, electroencephalography, to the issue under study. As the main results of the study, it is necessary to highlight the following: factors that have a significant impact on the willingness to pay were: age, income, assessment of the brand’s similarity to the original taste of Coca-Cola, assessment of the taste of the drink and drinking Coca-Cola once every 3 months. From the point of view of neuroeconomics, researchers were able to identify a significant influence of neurometrics located in the frontal zone of the brain, which, on the one hand, confirms the results of previous studies for other food products, and on the other hand, is a new result of the application of neuromethods to a specific food product - Coca-Сola and its analogues.