Pricing applying principles from psychology
Recent studies in behavioural psychology & behavioural economics have shown how to apply psychology to how you plan and present prices. Academic studies in psychology have taught us how the human brain processes pricing, and how pricing decisions are made. Tested through social science experiments, hypotheses and theories in how consumers process decisions have been proven – ready to apply in business.
As consumers we can all make strange decisions. Understanding how the brain sees and processes pricing gives you a planning framework for your pricing strategy which applies principles from pricing psychology:
Understanding pricing psychology
Introduces opportunities to adjust how you plan pricing. There’s much more than 99p ‘charm pricing’ to think about. Click here to read more
Introducing structured relative pricing
Presents your pricepoints alongside each other, so that instead of thinking about pricing strategies used by your competitors, you start to compete with yourself. Click here to read more
Planning portfolio pricing
Puts your products and prices together to plan them as a portfolio. Supporting upsell, cross-sell and customer retention. Click here to read more
If you’d like to find out more, click here to browse through a selection of FREE pricing case studies showcasing big differences in pricing effectiveness.
Or if you’re ready to start a conversation, click here to get in contact
Or click below to see short filmclips from Youtube which give you a flavour of some of the principles from psychology being applied in planning pricing strategies (5 filmclips, 12 minutes)