Get in Touch

Course Outline

Introduction

Overview of Pricing Psychology

  • The significance of pricing
  • The psychological power of the number nine
  • Price anchoring
  • Strategies for inviting price comparisons

Selecting the Appropriate Price

  • Strategies aligned with target audiences
  • The '99' effect
  • Comparing 95 versus 99
  • When to avoid odd-ending prices
  • The precision effect
  • Ego pricing

Presenting Prices to Consumers

  • The syllables effect
  • Incorporating cents
  • Using commas in pricing
  • The verticality effect
  • The male-red effect

Framing Strategies for Pricing

  • The pennies-a-day effect
  • The spare change effect
  • Gain-framings combined with 9-ending prices
  • Time framing

Presenting Products to Consumers

  • Offering compromise options
  • The decoy effect
  • The descending order effect
  • The anchoring effect

Structuring Product Sales and Discounts

  • The subtraction principle
  • Simplifying discount calculations
  • Percentage-based discounts
  • Relative size and distance effects
  • Verbal matching effect
  • Vertical and horizontal positioning
  • Left and right digit effects
  • Setting discount limits

Managing Additional Charges

  • Partitioned pricing
  • How to present surcharges
  • The role of surcharge amounts
  • The surcharge consolidation effect
  • Reversed partitioning

Summary and Conclusion

Requirements

  • A foundational understanding of sales, marketing, and pricing mechanisms
  • An interest in psychological theories and research relevant to business

Target Audience

  • Entrepreneurs
  • Marketing professionals
  • Sales professionals
 7 Hours

Number of participants


Price per participant

Testimonials (3)

Upcoming Courses

Related Categories