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The Psychology of Price

How to use price to increase demand profit and customer satisfaction

Paperback Engels 2012 9781780590073
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One of the most important questions for any business is: how much should I charge? Economics has an easy answer - just look at where demand and supply meet. Unfortunately, this easy answer is wrong. What about the effect of changing the timing on a payment? How do a customer's personal and financial circumstances affect their willingness to pay? Using The Psychology of Price, you can discover why price is a psychological issue - and how to make the most of that knowledge.

Written by the founder of the UK's leading pricing consultancy Inon - whose clients range from the BBC and confused.com to Grants Whisky and HM Treasury - The Psychology of Price offers a unique opportunity for business owners and finance and marketing professionals to gain an insight into the way consumers think and purchase - and to learn the actual research methods and pricing techniques used by multinational companies.

A practical, jargon-free workbook, 'The Psychology of Price' demystifies a critical aspect of running a business, lucidly and logically explaining the science behind pricing so that you can generate more demand, more profit and more customer value today. Inside The Psychology of Price, you can learn: -How to get people to expect to pay more -How presenting products that nobody wants can influence what customers are willing to pay -How upselling by low-cost add-ons can increase sales and perceived value Crucially, The Psychology of Price will help you find out how good your pricing really is and give you the toolkit to ensure you charge the right price point for your product or service.

What have you got to lose?


Aantal pagina's:232
Uitgever:Crimson Books
Hoofdrubriek:Reclame en verkoop


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Over Leigh Caldwell

Leigh is a pricing expert and leading researcher in behavioural economics, writing the UK’s most popular behavioural blog (www.knowingandmaking.com) and appearing as a frequent guest on BBC News. By background a mathematician and economist, he is the founder and chief executive of Inon, the UK’s leading pricing consultancy.

Andere boeken door Leigh Caldwell


The seven principles of pricing

1. Pricing as positioning
2. Coast-based calculations
3. Reading the customer's mind
4. Segmentation
5. New launches, belief and fairness
6. Memory and expectations, trials and reframing your prices
7. Anchoring
8. Competition
9. Decoys
10. Paying tomorrow for what you get today
11. The tea party
12. Bundling
13. Free offers
14. Upselling
15. Absorption and value pricing
16. Other people's money
17. Managing the pricing environment
18. The psychology of giving
19. The ethics and law of pricing

Bibliography and further reading
Appendix A: A pricing diagnostic
Appendix B: A theory of psychology and cognistion to this book


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