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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
7 Hours
Testimonials (2)
Responses with solutions and practical use.
Agnieszka - AIRBUS HELICOPTERS POLSKA SP. Z O.O.
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