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Course Outline
Introduction
Overview of Pricing Psychology
- The significance of pricing
- The psychological power of the number nine
- Price anchoring
- Encouraging price comparisons
Selecting the Optimal Price
- Strategies aligned with the target audience
- The '99' effect
- Comparing 95 versus 99
- When to avoid odd-ending prices
- The precision effect
- Ego-based pricing
Presenting Prices to Consumers
- The syllables effect
- Including 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-framing combined with 9-ending prices
- Time-based 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
- The verbal matching effect
- Vertical and horizontal positioning
- The impact of left versus right digits
- Setting discount limits
Managing Additional Charges
- Partitioned pricing
- Presenting surcharges effectively
- The role of the surcharge amount
- The surcharge consolidation effect
- Reversing partitioning
Summary and Conclusion
Requirements
- A foundational understanding of sales, marketing, and pricing.
- An interest in psychological theories and research applicable to business.
Audience
- Entrepreneurs
- Marketing staff
- Sales staff
7 Hours
Testimonials (3)
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.
Siobhan - Raintree
Course - Digital Marketing for Software-as-a-Service (SaaS)
Responses with solutions and practical use.