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Course Outline
Introduction
Overview of Pricing Psychology
- The significance of pricing
- The pricing power of the number nine
- Price anchoring
- Encouraging price comparisons
Selecting the Appropriate Price
- Strategies tailored to the target audience
- The '.99' effect
- '95' versus '.99'
- Avoiding prices with odd endings
- The precision effect
- Ego pricing
Presenting Prices to Consumers
- The syllable count effect
- Adding cents
- Inserting commas
- The verticality effect
- The male-red effect
Framing Strategies for Pricing
- The 'pennies-a-day' effect
- The 'spare change' effect
- Gain-framed messages and prices ending in 9
- Time framing
Presenting Products to Consumers
- Offering a compromise option
- The decoy effect
- The descending order effect
- The anchoring effect
Offering Product Sales and Discounts
- The subtraction principle
- Ease of discount calculation
- Percentage-based discounts
- Relative size and relative distance
- The verbal matching effect
- Vertical and horizontal positioning
- Left and right digit effects
- Discount limitations
Handling Additional Charges
- Partitioned pricing
- Presenting surcharges
- The role of surcharge amounts
- The surcharge consolidation effect
- Reverse partitioning
Summary and Conclusion
Requirements
- A fundamental understanding of sales, marketing, and pricing.
- An interest in psychological theories and research applied to business.
Audience
- Entrepreneurs
- Marketing professionals
- Sales professionals
7 Hours
Testimonials (2)
The truth is, it was very comprehensive.
Azucena - Casas Javer SA de CV
Course - Digital Marketing
Machine Translated
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.