The Psychology of Price

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 [...]
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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?