Price Psychology: Pricing Strategies, Promotional Pricing, and Odd-Even Pricing (PsychoProfits)

Price Psychology: Pricing Strategies, Promotional Pricing, and Odd-Even Pricing

"The single most significant decision in evaluating a business is pricing power,"
Warren Buffet, CEO Berkshire Hathaway

Want to increase sales?

Using Pricing Strategies and the Psychology of Pricing has been proven to increase sales. That's why big brands spend millions of dollars to test thousands of price points and pricing tactics. Now, you don't need to spend your hard-earned cash or precious time testing and researching pricing strategies because the work has been done for you.

This book is a concise, step-by-step, easy-to-understand guide to using Price Psychology to influence consumer behavior. It has no fluff or filler - just essential information, examples, and advice to short-cut your journey to mastering Price Psychology and making better-informed business decisions. This book also offers an introduction to the concepts, theories, and applications of pricing and revenue optimization.

How much should I charge?

Economists may argue that you should charge a price at the point where supply and demand intersect. This answer does not take into account the psychological factors that can also influence pricing strategies. For example, you could charge higher prices if you make luxury products or premium services. Your customers' perception of the value of your product or service is what is more relevant to your pricing strategy.

FACT: Each Price Point Produces a Different Psychological Effect on Your Readers’ Subconscious.

Knowing how to influence your audiences’ behavior through the use of different pricing can have a hugely positive impact on your business' success. Smart entrepreneurs, marketers, and designers have been exploiting the hidden power of the psychology of pricing for a very long time. Choosing the wrong price point for your product or service could ruin your results.

A common "rule of thumb" in marketing says raising prices by 10% will decrease orders by 10%. But this rule doesn't take into account the complexities of human psychology and buyer behavior. Price testing has proven that you can lower your price by a couple of pennies and increase orders by 10-20%. However, depending on the product or service, you can raise prices by 100% and increase orders by 30%.

Why Should You Read This Book?

If you use pricing for anything, then this is for you… Avoid wasting hours trying to find the right price for any product or service. Discover how different pricing affects our subconscious in different ways.

Quickly learn all the insider knowledge and tricks of pricing experts. Skip all the time-consuming, expensive online courses and learn everything you need to know about price psychology in your own time. This unique guide will effortlessly help you to determine which pricing strategy suits your project the best.

Here are some of the Pricing Strategies covered:

Price Bundling

Competitive Pricing

Leader Pricing

Everyday Low Pricing

Examples of Price Discrimination

Price Segmentation

Tiered Pricing

Skimming Pricing Strategy

Price Leadership

Promotional Pricing

Markup Pricing

Competition Based Pricing

Penetration Pricing Strategy

Value Pricing

Price Lining

Price Psychology offers you a series of strategies, methods, ideas, and techniques that you can use immediately to make more sales, faster, and easier than ever before.