The Cognitive Economics of OTC Health: A Mind Genomics Exploration

Abstract

Using the paradigms of Mind Genomics, consumers evaluated different combinations of brand, features, and performance of antacids, with the former elements combined into small, easy-to-read combinations (vignettes.) Each respondent rated a unique set of 63 vignettes on two attributes, interest in the product, and price that would be paid for a week supply of the product. The deconstruction of the vignettes into the contribution of components revealed large differences in the contribution of the components of the vignette to both interest and to price. The strongest performing elements dealt with the specific uses of the product. Price covered with interest, with some anomalies, the most striking being the high price assigned to a well-known expensive brand, (brand) Zantac, which did not perform well in terms of interest. Respondent thus ‘know’ price from their experience, and do not simply assign higher prices to elements they like. The mind-set segments were complex, showing that even with as many as four mind-sets, consumer lump together product features, and performance.