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Pricing Psychology Report
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Book Synopsis Pricing Psychology Report by : Marlene Jensen
Download or read book Pricing Psychology Report written by Marlene Jensen and published by . This book was released on 2020-01-09 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: All pricing decisions are not logical! People also buy at one price and not at another for psychological reasons -- many of which they don't understand. Yet these psychology-based choices have been documented by pricing strategy experts in tests of hundreds of millions of consumers.* How to change your price by a couple of pennies -- and get 10-20% MORE ORDERS.* How to raise prices -- and get MORE ORDERS.You might believe there is no such thing as too-low pricing. But you'd be wrong. In 1992, I launched Ancillary Profits newsletter (sold to magazine publishers) at a price under $100. A few months later, I tested that price vs. one well over $100 -- a 31% price increase. What should have happened? A common "rule of thumb" in marketing says raising prices by 10% will decrease orders by 10%. Thus I should have received 31% LESS orders. Instead my orders went up by 11%! At a 31% higher price! That means I got to pocket 45% MORE CASH for the very same product.Pricing Psychology Report details dozens of pricing psychology quirks you can use to both increase your profits AND have happier customers. Read this for pricing changes you can make TODAY to increase your cash.
Book Synopsis Pricing Psychology Report by : Marlene Jensen
Download or read book Pricing Psychology Report written by Marlene Jensen and published by JGF Press. This book was released on 2020-01-09 with total page 63 pages. Available in PDF, EPUB and Kindle. Book excerpt: All pricing decisions are not logical! People also buy at one price and not at another for psychological reasons -- many of which they don't understand. Yet these psychology-based choices have been documented by pricing strategy experts in tests of hundreds of millions of consumers. * How to change your price by a couple of pennies -- and get 10-20% MORE ORDERS. * How to raise prices -- and get MORE ORDERS. You might believe there is no such thing as too-low pricing. But you'd be wrong. In 1992, I launched Ancillary Profits newsletter (sold to magazine publishers) at a price under $100. A few months later, I tested that price vs. one well over $100 -- a 31% price increase. What should have happened? A common "rule of thumb" in marketing says raising prices by 10% will decrease orders by 10%. Thus I should have received 31% LESS orders. Instead my orders went up by 11%! At a 31% higher price! That means I got to pocket 45% MORE CASH for the very same product. Pricing Psychology Report details dozens of pricing psychology quirks you can use to both increase your profits AND have happier customers. Read this for pricing changes you can make TODAY to increase your cash.
Book Synopsis Handbook on the Psychology of Pricing by : Markus Husemann-Kopetzky
Download or read book Handbook on the Psychology of Pricing written by Markus Husemann-Kopetzky and published by . This book was released on 2018 with total page 185 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Psychology of Price by : Leigh Caldwell
Download or read book The Psychology of Price written by Leigh Caldwell and published by Jaico Publishing House. This book was released on 2015-12-07 with total page 170 pages. Available in PDF, EPUB and Kindle. Book excerpt: How to Use Price to Increase Demand, Profit and Customer Satisfaction HOW SMART IS YOUR PRICING? For any business, deciding how much to charge for a product or service is crucial. By gaining an insight into the way consumers think and purchase, you can generate more demand, more customer value – and more profit. MAXIMISE REVENUE • How do unwanted products Influence what customers expect to pay? • How does offering extras for free dramatically increases Perceived Value? • Why does changing the timing of a payment make people pay 50% More? TRIED AND TESTED TECHNIQUES Written by the founder of Inon, a leading pricing consultancy, whose clients range from the BBC and Grant’s Whisky to Alzheimer’s Disease International and HM Treasury, The Psychology of Price provides an insight into the strategies used by multinational corporations. Leigh Caldwell 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.
Book Synopsis Priced to Influence, Sell & Satisfy: Lessons from Behavioral Economics for Pricing Success by : Utpal Dholakia
Download or read book Priced to Influence, Sell & Satisfy: Lessons from Behavioral Economics for Pricing Success written by Utpal Dholakia and published by Utpal Dholakia. This book was released on 2019-06-23 with total page 229 pages. Available in PDF, EPUB and Kindle. Book excerpt: Pricing holds the key to business success. The greatest challenge in pricing is the human factor. To price effectively, customer psychology usually trumps rational microeconomic thinking. * How did Subway turn one accidentally discovered price promotion into a multi-billion dollar success story? * How much knowledge of prices do customers really have? * Why do most people spend two months’ salary to buy an engagement ring? * Does Pay What You Want pricing really work? * How can you get your customers to trade up? * Why do Supreme t-shirts sell for $1,500 or more? * Why do so many consumers hate Uber’s surge pricing even though economists love it? In Priced to Influence, Sell & Satisfy, you will find answers to these and many more questions. The book introduces the latest thinking about Psychological Pricing, the science of designing effective pricing strategies using behavioral economics principles. You will learn how customers search for, evaluate, share, and use prices in their buying decisions, how they participate in setting prices, and what managers can do to understand and influence these processes. Psychological pricing actions are levered. Many of them require relatively small investments and produce disproportionately large returns to the business.
Book Synopsis Pricing Strategies by : Robert M. Schindler
Download or read book Pricing Strategies written by Robert M. Schindler and published by SAGE. This book was released on 2011-10-11 with total page 417 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The primary theme of Pricing Strategies is that pricing should be guided by the marketing concept, which indicates that success is achieved through a focus on the needs and sensitivities of the customer. This customer-focus theme is evident throughout the text. The author helps to overcome the mathematical anxieties of students with an intuitive approach to understanding basic pricing concepts, and presents mathematical techniques as simply more detailed specifications of these concepts"--Provided by publisher.
Book Synopsis Introduction to Business by : Lawrence J. Gitman
Download or read book Introduction to Business written by Lawrence J. Gitman and published by . This book was released on 2024-09-16 with total page 1455 pages. Available in PDF, EPUB and Kindle. Book excerpt: Introduction to Business covers the scope and sequence of most introductory business courses. The book provides detailed explanations in the context of core themes such as customer satisfaction, ethics, entrepreneurship, global business, and managing change. Introduction to Business includes hundreds of current business examples from a range of industries and geographic locations, which feature a variety of individuals. The outcome is a balanced approach to the theory and application of business concepts, with attention to the knowledge and skills necessary for student success in this course and beyond. This is an adaptation of Introduction to Business by OpenStax. You can access the textbook as pdf for free at openstax.org. Minor editorial changes were made to ensure a better ebook reading experience. Textbook content produced by OpenStax is licensed under a Creative Commons Attribution 4.0 International License.
Book Synopsis The Psychology of Graphic Design Pricing by : Michael C Janda
Download or read book The Psychology of Graphic Design Pricing written by Michael C Janda and published by Independently Published. This book was released on 2019-02-07 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: Learn how to price creative work with confidence. Win more bids. Make more money. When it comes to pricing their work, far too many freelance designers and agencies merely guess what to charge their clients. As a result, profitable projects have as much to do with luck as they do anything else. In The Psychology of Graphic Design Pricing, you'll learn how to take luck out of the equation by calculating the cost to produce your work, understanding its market value, and extracting your client's budget. These three variables are used in a pricing spectrum, empowering you to price your work with confidence and profitability in every project opportunity. This book will teach you how to calculate your production costs, understand market value, extract your client's budget, bid with the right project price, and increase your profitability.
Download or read book Smart Persuasion written by Philippe AIMÉ and published by Convertize. This book was released on 2019-03-01 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: Conversions begin in the brain. Every purchase starts with a decision, and every decision is shaped by consumer psychology. This book explains how mental shortcuts (cognitive biases) affect your customers' decision making and shows you how to be more persuasive online. Philippe Aimé and Jochen Grünbeck are optimisation addicts and have been at the forefront of digital marketing since the beginning. Inspired by behavioural economists like Daniel Kahneman, Dan Ariely and Richard Thaler, the techniques described in Smart Persuasion leverage powerful decision-making biases to make marketing more effective. Alongside these behavioural insights, Smart Persuasion incorporates research from marketing experts such as Jonah Berger, Robert Cialdini and Roger Dooley. Principles relating to attention and perception, as well as the cognitive effects that make consumers predictably irrational, are distilled into concrete website optimisation strategies. Drawing from hundreds of unique studies, Smart Persuasion lists proven effects such as Anchoring and Framing. Each one is illustrated with case-studies, examples and ideas that you can apply immediately. Using the persuasive strategies outlined in this book will allow you to influence consumers more effectively, unlocking your website's potential. All profits from the sale of this book help provide educational resources for children in Africa.
Download or read book Smart Pricing written by Jagmohan Raju and published by . This book was released on 1900 with total page 225 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the eBook version of the printed book. If the print book includes a CD-ROM, this content is not included within the eBook version. In Smart Pricing, Wharton professors and renowned pricing experts Jagmohan Raju and John Zhang offer a powerful alternative to traditional pricing models. The authors focusing on a new set of influencers in pricing strategy: consumer psychology, economics, and marketing. To do so, they draw on their own breakthrough pricing research, as well as their most recent work helping enterprises rethink their approaches to pricing. Raju and Zhang make pricing more t.
Book Synopsis Confessions of the Pricing Man by : Hermann Simon
Download or read book Confessions of the Pricing Man written by Hermann Simon and published by Springer. This book was released on 2015-10-20 with total page 231 pages. Available in PDF, EPUB and Kindle. Book excerpt: The world’s foremost expert on pricing strategy shows how this mysterious process works and how to maximize value through pricing to company and customer. In all walks of life, we constantly make decisions about whether something is worth our money or our time, or try to convince others to part with their money or their time. Price is the place where value and money meet. From the global release of the latest electronic gadget to the bewildering gyrations of oil futures to markdowns at the bargain store, price is the most powerful and pervasive economic force in our day-to-day lives and one of the least understood. The recipe for successful pricing often sounds like an exotic cocktail, with equal parts psychology, economics, strategy, tools and incentives stirred up together, usually with just enough math to sour the taste. That leads managers to water down the drink with hunches and rules of thumb, or leave out the parts with which they don’t feel comfortable. While this makes for a sweeter drink, it often lacks the punch to have an impact on the customer or on the business. It doesn’t have to be that way, though, as Hermann Simon illustrates through dozens of stories collected over four decades in the trenches and behind the scenes. A world-renowned speaker on pricing and a trusted advisor to Fortune 500 executives, Simon’s lifelong journey has taken him from rural farmers’ markets, to a distinguished academic career, to a long second career as an entrepreneur and management consultant to companies large and small throughout the world. Along the way, he has learned from Nobel Prize winners and leading management gurus, and helped countless managers and executives use pricing as a way to create new markets, grow their businesses and gain a sustained competitive advantage. He also learned some tough personal lessons about value, how people perceive it, and how people profit from it. In this engaging and practical narrative, Simon leaves nothing out of the pricing cocktail, but still makes it go down smoothly and leaves you wanting to learn more and do more—as a consumer or as a business person. You will never look at pricing the same way again.
Book Synopsis Setting Profitable Prices, + Website by : Marlene Jensen
Download or read book Setting Profitable Prices, + Website written by Marlene Jensen and published by John Wiley & Sons. This book was released on 2013-01-29 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: Time-tested strategies for making the best possible pricing decisions and gaining an unbeatable competitive advantage Pricing is one of the most important—and difficult—marketing problems companies face when launching new products. Unfortunately, the research that goes into making optimal pricing decisions is a very time-consuming process—unless, that is, you can afford to pay a consultant or outside agency to do it for you. But if you're like most small- to medium-sized business owners and managers, time and money are two things you absolutely don't have to spare. Problem solved: Written by a nationally recognized pricing expert, this book arms you with proven strategies for guaranteeing that you'll never again leave money on the table when determining prices. And you'll spend the least possible time setting your more profitable prices. Packed with valuable worksheets and other valuable tools to help guide your research and your pricing decision-making A goldmine of expert tips for pricing in any specialty market, it offers a highly effective way to market your company's product more effectively and profitably Shows you how to avoid making your competitors' pricing mistakes and gain a powerful competitive edge in the process The author uses examples drawn from her years of consulting work with companies large and small, including Food Network, American Express Publishing, and Playboy
Book Synopsis Predictably Irrational by : Dan Ariely
Download or read book Predictably Irrational written by Dan Ariely and published by Harper Collins. This book was released on 2008-02 with total page 310 pages. Available in PDF, EPUB and Kindle. Book excerpt: Intelligent, lively, humorous, and thoroughly engaging, "The Predictably Irrational" explains why people often make bad decisions and what can be done about it.
Book Synopsis Setting Profitable Prices by : Marlene Jensen
Download or read book Setting Profitable Prices written by Marlene Jensen and published by John Wiley & Sons. This book was released on 2013-01-29 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: Time-tested strategies for making the best possible pricing decisions and gaining an unbeatable competitive advantage Pricing is one of the most important—and difficult—marketing problems companies face when launching new products. Unfortunately, the research that goes into making optimal pricing decisions is a very time-consuming process—unless, that is, you can afford to pay a consultant or outside agency to do it for you. But if you're like most small- to medium-sized business owners and managers, time and money are two things you absolutely don't have to spare. Problem solved: Written by a nationally recognized pricing expert, this book arms you with proven strategies for guaranteeing that you'll never again leave money on the table when determining prices. And you'll spend the least possible time setting your more profitable prices. Packed with valuable worksheets and other valuable tools to help guide your research and your pricing decision-making A goldmine of expert tips for pricing in any specialty market, it offers a highly effective way to market your company's product more effectively and profitably Shows you how to avoid making your competitors' pricing mistakes and gain a powerful competitive edge in the process The author uses examples drawn from her years of consulting work with companies large and small, including Food Network, American Express Publishing, and Playboy
Book Synopsis Why Popcorn Costs So Much at the Movies by : Richard B. McKenzie
Download or read book Why Popcorn Costs So Much at the Movies written by Richard B. McKenzie and published by Springer Science & Business Media. This book was released on 2008-04-17 with total page 332 pages. Available in PDF, EPUB and Kindle. Book excerpt: This entertaining book seeks to unravel an array of pricing puzzles from the one captured in the book’s title to why so many prices end with "9" (as in $2.99 or $179). Along the way, the author explains how the 9/11 terrorists have, through the effects of their heinous acts on the relative prices of various modes of travel, killed more Americans since 9/11 than they killed that fateful day. He also explains how well-meaning efforts to spur the use of alternative, supposedly environmentally friendly fuels have starved millions of people around the world and given rise to the deforestation of rainforests in Malaysia and Indonesia.
Book Synopsis Value-Based Pricing: Drive Sales and Boost Your Bottom Line by Creating, Communicating and Capturing Customer Value by : Harry Macdivitt
Download or read book Value-Based Pricing: Drive Sales and Boost Your Bottom Line by Creating, Communicating and Capturing Customer Value written by Harry Macdivitt and published by McGraw Hill Professional. This book was released on 2011-10-17 with total page 305 pages. Available in PDF, EPUB and Kindle. Book excerpt: A Groundbreaking Pricing Model for the New Business Landscape Why would any customer choose Brand X over Brand Y, regardless of price? In a word: Value. When customers feel they are getting good value from your product or service, they are more than happy to pay more—which is good news for you and your business. Even in today’s global market—with its aggressive competitors, low-cost commodities, savvy consumers, and intangible digital offerings—you can outsell and outperform the rest using Value-Based Pricing. Done correctly, this method of pricing and selling helps you: Understand your customers’ wants and needs Focus on what makes your company different Quantify your differences and build a value-based strategy Communicate your value directly to your customers Now more than ever, it is essential for you to reexamine the reality of the value you offer customers—and this step-by-step program shows you how. Developed by global consultants Harry Macdivitt and Mike Wilkinson, Value-Based Pricing identifies three basic elements of the Value Triad: revenue gain, cost reduction, and emotional contribution. By delivering these core values to your customers—through marketing, selling, negotiation, and pricing—you can expect an increase in profits, productivity, and consumer goodwill. These are the same value-based strategies used by major companies such as Philips, Alstom, Siemens, and Virgin Mobile. And when it comes to today’s more intangible markets—such as consulting services or digital properties like e-books and music files—these value-based strategies are more important than ever. So forget about your old pricing methods based on costs and competition. Once you know your own value—and how to communicate it to others—everybody profits.
Book Synopsis Doing Social Psychology Research by : Glynis M. Breakwell
Download or read book Doing Social Psychology Research written by Glynis M. Breakwell and published by John Wiley & Sons. This book was released on 2008-04-15 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt: This practical text introduces students to all the principal data collection methods and data analyses used in social psychology. A student-friendly introduction to the data collection methods and data analyses used in social psychology. Describes the principal research methods and shows how they can be applied to particular research questions. Each chapter is written by a psychologist well known for using the method they describe. Methods presented include conducting surveys, constructing questionnaires, facilitating focus groups, running interviews, and using archival recordings. Topics used to illustrate these methods include identity processes, attribution, stereotyping, attitude change, social influence, communication, and group dynamics. Includes step-by-step exercises for students and notes for course leaders.