Course Outline
Introduction
Overview of Pricing Psychology
- Importance of pricing
- The pricing power of number nine
- Price anchoring
- Inviting price comparisons
Choosing the Right Price
- Audience-matching strategies
- The 99 effect
- 95 versus 99
- Avoiding odd-ending prices
- Precision effect
- Ego pricing
Presenting the Price to Consumers
- Syllables effect
- Adding cents
- Adding commas
- Verticality effect
- Male-red effect
Framing Strategies for Pricing
- Pennies-a-day effect
- Spare change effect
- Gain-framings and 9-ending prices
- Time framing
Presenting the Product to Consumers
- Providing compromise
- Decoy effect
- Descending order effect
- Anchoring effect
Offering Product Sales and Discounts
- Subtraction principle
- Ease of discount computation
- Percentage-based discounts
- Relative size and relative distance
- Verbal matching effect
- Vertical and horizontal positioning
- Left and right digit effects
- Discount limits
Dealing with Additional Charges
- Partitioned pricing
- Presenting surcharges
- Role of surcharge amount
- Surcharge consolidation effect
- Revers partitioning
Summary and Conclusion
Requirements
- A general understanding of sales, marketing, and pricing
- Interest in psychological theories and research for business
Audience
- Entrepreneurs
- Marketing staff
- Sales staff
Testimonials (4)
Irma was attuned to us as learners and our business needs. It was clear that she was actively listening to us from the informed feedback she then provided.
Siobhan - Raintree
Course - Digital Marketing for Software-as-a-Service (SaaS)
Responses with solutions and practical use.
Agnieszka - AIRBUS HELICOPTERS POLSKA SP. Z O.O.
Course - Google AdWords: Beginner to Advanced
She was able to answer everyones questions easily...Clearly indication of her expertise.
Yunus - Vodacom
Course - Digital Marketing
The idea that i could ask any question and move from one topic to another and the fact that the training was set at the right level for what i needed to know.