The essence of pricing psychology

[subornaakter40]

The psychology of pricing has appeared not so long ago, but it is already bearing fruit. Prices of 99.99 rubles, small print on price tags, three cost options – this is all from this opera. In addition to simple techniques, there are more serious pricing methods that are focused on the psychology of buyers. These methods of presenting the price work in such a way that the client does not even realize the pressure from outside, he believes until the end that he made the choice himself.

For example, having gone to the other end of the city for a wardrobe that is 1000 rubles cheaper, he thinks that he has saved a tidy sum. But this is not so, the manufacturer did not lose out, but, on the contrary, benefited from such a generous offer. Experienced marketers have long since decided everything for the buyer. Do you want the same? Then let's go!

Pricing is a complex process, and there is no single magic recipe for everyone. Pricing often occurs at the level of intuition, when marketers have absolutely no idea what to start from, what benchmarks to choose. And this is completely wrong. Pricing should be based on competent, verified strategies and certainly taking into account the psychology of the buyer. Of course, intuitive intuition will not hurt either, but real trials and errors will bring much more benefit.

Any business is created to release a certain product to the market and receive income from its sale. Based on this, the cost of the product or service is formed. And at some point you will certainly ask yourself how to sell more expensively with minimal effort and ultimately earn more. This is where the psychology of pricing comes in handy.

Increase Your Profits by 10X: 5 Key Metrics You Must Track
Alexander Kuleshov
Alexander Kuleshov
General Director of Sales Generator LLC
Read more posts on my personal blog:

After working with over 300 online projects , I can guarantee: monitor these metrics weekly and your company will not only survive, but also increase its profits by 10 times!

In the context of sanctions and crisis, knowing the ROI of your advertising decides whether your business will be successful. Tracking these 5 critical indicators is the key to your prosperity.

What you get for free:


5 Key Metrics to Increase Profits by 220%


The Secret ROI Formula: Instant Advertising Efficiency Calculator


Anti-crisis Solutions Matrix: Find the Perfect Strategy for Your Business in 15 Minutes

We have prepared all the documents and templates with formulas for you. And yes, it is FREE:

Download documents for free
Already downloaded
153324


7 Pricing Methods That Play on Buyer Psychology
The psychology of pricing is understood as a marketing strategy based on the psychological factor that there are price categories that can more actively influence the consumer's consciousness. Let's consider the main pricing methods that take into account the psychological factors of clients.

Method using innovations
Its essence is simple: do what others do not do. Of course, you can simply follow your competitors by raising prices or otherwise using the usual, but outdated methods. But you can also be creative, try to stand out from the crowd. As the well-known company Rowenta did in its time, releasing iron models with a unique, innovative design to the market.

Yes, even in the iron market, you can win the consumer's attention precisely by changing the design. And this is also one of the elements of pricing psychology.

Rowenta did not spend huge amounts of money on new advertising, discounts, promotions, etc. It took a different path - it released a product that was not only radically different in appearance, but also not cheap, designed for wealthy buyers for whom the quality and practicality of the product are of primary importance. In addition, such an iron, due to its attractive appearance, can be presented as a gift to friends or relatives.