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.

Download or read book Advanced Introduction to Digital Marketing written by Dholakia, Utpal and published by Edward Elgar Publishing. This book was released on 2022-10-13 with total page 185 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Advanced Introduction to Digital Marketing identifies the core concepts of research on digital marketing and provides theoretical frameworks and empirical findings. Topics such as digital product evolution, marketing strategy, and research on place, price, and promotion are thoroughly reviewed alongside controversial areas such as the harmful effects of technology on consumers. It also suggests research opportunities for those wishing to explore a particular area in greater depth.

Download or read book Transparency in Business written by Utpal Dholakia and published by Springer Nature. This book was released on 2023-03-28 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt: This ambitious book develops an integrative understanding of business transparency spanning business disciplines. It synthesizes the vast, siloed research on business transparency to develop and provide an integrative view for business researchers and scholars, pointing out research opportunities in the process. The first chapter introduces business transparency with a brief historical overview, followed by its key conceptualizations and challenges. Chapters 2 through 5 take up four conceptually distinct views of transparency in depth: transparency as strategic disclosure (Chapter 2), transparency as a business tactic (Chapter 3), transparency as organizational culture (Chapter 4) and transparency as a managerial virtue (Chapter 5). Chapter 6 explores transparency’s infeasibility challenge through the chasm between disclosure and understanding and considers its implications. The final chapter provides an integrative framework of business transparency. This book will be useful to business academics who are interested in transparency and associated concepts.

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.

Download or read book The Truth About Pricing written by Melina Palmer and published by Mango Media Inc.. This book was released on 2024-01-09 with total page 311 pages. Available in PDF, EPUB and Kindle. Book excerpt: Discover The Truth About Profitable Pricing #1 New Release in Business Pricing and Business Purchasing & Buying The ultimate guide to pricing mastery and value-based pricing, The Truth About Pricing helps you unlock the secrets of your buyers’ minds, understand their needs, and set prices that skyrocket your business's success. Pricing mastery made easy. A must-read for entrepreneurs seeking to determine what their customers value and set prices they want by understanding the truth about pricing—it isn’t about the price. Everything that happens before the price matters much more than the price itself. Have happier clients, boost your profits, and confidently master the pricing game with this comprehensive guide. Boost your profits with an expert. Instructor of applied behavioral economics, marketing whiz, and best-selling author Melina Palmer provides a step-by-step guide to successful pricing strategies that resonate with your target audience, making them naturally more likely to choose you (regardless of the price). Discover the prices customers want and can't tell you, and gain an edge by understanding what your buyer values. The pricing mastery provided in The Truth About Pricing allows you to navigate pricing psychology and gain profitability, easier sales, and happier customers. Inside, find: • The key to understanding your buyers needs and setting prices they want • What your customers—and your business—truly value • An easy to follow guide to successful pricing for entrepreneurs to boost profits and have happier clients If you enjoy business plan books like Build, The New Model of Selling, or What Your Customer Wants and Can't Tell You, you’ll love The Truth About Pricing.

Download or read book How to Price Effectively written by Utpal Dholakia and published by . This book was released on 2017-07-03 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Pricing decisions are among the most important and impactful business decisions that a manager can make. How to Price Effectively: A Guide for Managers and Entrepreneurs introduces the value pricing framework, a structured, versatile, and comprehensive method for making good pricing decisions and executing them. The framework weaves together the latest thinking from academic research journals, proven best practices from the leading pricing experts, and ideas from other fields such as medical decision making, consumer behavior, and organizational psychology. The book discusses what a good pricing decision is, which factors you should consider when making one, the role played by each factor-costs, customer value, reference prices, and the value proposition- and how they work together, the importance of price execution, and how to evaluate the success of pricing decisions. You will also be introduced to a set of useful and straightforward tools to implement the value pricing framework, and study many examples and company case studies that illustrate its nuances. The purpose of How to Price Effectively: A Guide for Managers and Entrepreneurs is to provide you with a comprehensive, practical guide to making, executing, and evaluating pricing decisions.

Download or read book Getting Price Right written by Gerald Smith and published by Columbia University Press. This book was released on 2021-10-12 with total page 537 pages. Available in PDF, EPUB and Kindle. Book excerpt: Winner, 2022 Leonard L. Berry Marketing Book Award, American Marketing Association How do leaders, managers, and proprietors go about the essential task of setting prices? What biases enter into this process, and why? How can a business debias its price setting to become more productive, strategic, and profitable? Combining perceptive insights from behavioral economics with leading-edge ideas on price management, this book offers a new approach to pricing. Gerald Smith demonstrates why understanding, reframing, and refining everyday pricing processes—a firm’s or manager’s pricing orientation—results in a better long-term pricing strategy. He explores how pricing actually happens in practice and shows how to identify and remove the psychological blinders that cause suboptimal decisions and policies. Smith details how to improve pricing orientation by combining the soft behavioral skills that intuitively shape and refine pricing practice with the hard analytic skills that guide and structure pricing strategy. The result is more rational and more profitable pricing—with respect to not only revenue and profitability but also employee productivity and customer satisfaction. Offering an accessible and actionable model, Getting Price Right is the first book to apply behavioral economics to managerial price setting. It is a must-read for corporate business leaders, thought leaders, and professionals interested in advances in pricing and for managers, entrepreneurs, proprietors, and small and midsize business owners whose everyday work involves pricing.

Download or read book The Price Whisperer written by Per Sjofors and published by Leaders Press. This book was released on 2022-03-17 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: Are you leaving money on the table? Gain insight into leveraging the perception of value while increasing customer satisfaction: learn to employ best practices and research into the behavioral economics driving purchasing decisions to establish your pricing power. THE PARADOX OF PRICING POWER: ASK MORE, EARN MORE. Consumer behavior is irrational – people are finnicky, temperamental, and subjective. But they’re also highly predictable. Thus, when it comes to determining optimal product pricing, there’s one thing to keep in mind: the perception of value is value. In his latest work, The Price Whisperer, Per Sjöfors explores the complex network of variables that regulate customer perception of price and value, that is, why people buy one product and not another. By isolating key factors that determine a target market’s willingness to pay, businesses can effectively hack their existing model, thereby increasing asking price and sales volume. It’s not black magic, it’s human psychology. Start reading now to: Understand the unique internal and external factors that control consumer purchase behavior in your industry Learn how to increase pricing without sacrificing sales volume Discover how to identify the “right” customer for your products and save your marketing dollars for an audience primed for your business Learn why pricing does not exist in a vacuum and how the “set and forget” approach is a recipe for failure Discover why lowering prices and offering frequent discounts seldomly translates into greater purchasing volume Understand how price, in and of itself, sets an expectation of quality and benefit or lack thereof Learn how to hack your existing model structure by approaching consumer behavior as a psychologist, not an entrepreneur You might have the right product, the right marketing strategy and the right branding…but if you’re pricing is off, your business will suffer. Find your audience, tailor your message and value your product correctly! Grab your copy of The Price Whisperer today!

Download or read book Introduction to Behavioral Economic How written by Johnny Ch LOK and published by . This book was released on 2020-04-26 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: For book purchase reader case example, book publishers can attempt to apply behavioral economy method to predict reader individual reading behaviors. I shall explain as below:When a student chooses a book to buy to learn. He/she will compare different publishers' books sale price and contents whether which book is the cheapest or the book is not the cheapest, but the book's content is more utility or achieves whose economic benefit to let him/her to feel . So, the teaching book's the cheapest price is not the main influential factor to persuade any students to chooe to buy it preferable. But, if the teaching book's content can achieve the student's expected learning utility or learning expected value. Then, the student won't choose not to buy the teaching book, even it's price is more expective to compare other similar topics' teaching books. Therefore, the teaching book's higher sale price which compares other similar topic teaching books. This factor which won't influence any students choose not to buy this teaching book, if it's teaching content can help almost students to feel it can help or assist them to pass the subject courses' tests or examinations more easily consequently. So, students usually make decisions to choose to buy which publishers' subject teaching book, they won't only evaluate which subject teaching book is the cheapest book price factor, then they will follow the cheapest book price factor to decide to buy the subject teaching book. Book price is not the absolute reason to persuade or attract readers to buy the subject book in publishing industry. It includes other intangible factors to influence readers to choose to buy the book to read. For example, comparision the book content attractive factor, e.g. which book can let the reader to feel the most fun when he/she read the story book, which teaching book's content can let the student to feel its every topic is useful to help him/her to learn to earn higher marks for examination or test, the book words or pages number whether it is reasonable paper length value for the reader's the minimum reading need, the book's cover appearance whether it is attractive or book's photos colors or images whether they are attractive. So, all these non-money related sale price intangible feeling factors will influence book consumers how to make whose final reading book purchase choice in every reader individual choice process. Also , it seems that publishers can apply behavioral economy method to attemtp to predict how any why whose reader individual reading behavior when he/she will change their book purchase habitual decision in order to avoid their old readers who feel their old publishing books can bot keep attractive or unique contents to persuade them to choose to buy their books easily.

Download or read book Pricing and Revenue Optimization written by Robert Phillips and published by Stanford University Press. This book was released on 2005-08-05 with total page 470 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the first comprehensive introduction to the concepts, theories, and applications of pricing and revenue optimization. From the initial success of "yield management" in the commercial airline industry down to more recent successes of markdown management and dynamic pricing, the application of mathematical analysis to optimize pricing has become increasingly important across many different industries. But, since pricing and revenue optimization has involved the use of sophisticated mathematical techniques, the topic has remained largely inaccessible to students and the typical manager. With methods proven in the MBA courses taught by the author at Columbia and Stanford Business Schools, this book presents the basic concepts of pricing and revenue optimization in a form accessible to MBA students, MS students, and advanced undergraduates. In addition, managers will find the practical approach to the issue of pricing and revenue optimization invaluable. Solutions to the end-of-chapter exercises are available to instructors who are using this book in their courses. For access to the solutions manual, please contact [email protected].

Download or read book How Behavioral Economic Method Influences Marketing Effective Strategy written by Johnny Ch LOK and published by . This book was released on 2019-01-24 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: For book market example, book purchase readers will compare different similar books topics and reading contents to decide whether which book(S) can bring the most interesting or enjoyable after they had chosen to buy the book. So, in general, readers will make rational choice ( unlimited) to decide which book topic and content is the most interesting reading book to let them to feel that they can learn in order to earn more knowledge economic benefit after they choose to buy the aithor's book(S) to read. So, choice will be consumer behavior. However, in consumer individual decision making process, it is under conditions of uncertainty and risk. So, decision making in risky situations and uncertainty can not avoid to any consumers.However, the role of emotions and attitudes that will be one psychological factor to influence consumers' behaviours. So, their purchasing behaviors will be influenced by their emotion and attitudes, instead of economic benefits evaluation of comparision to among of similar products or services. So, behavioral economic method is as a tool to evaluate every product's economic utility whether it is more or less utility to assist consumer to make any purchasing decisions more rationally. Therefore, behavioral economy tries to explain, why and hoe individuals are often irrational in choices and how any why the decisions, they are influenced to make the consumption behavior finally. The behavioral economic value include expected value and expected utility to every consumer. Expected value means the benefit calculated often ,the money which the decision maker has in mind in the terms of selection of an alternative and quantifiable economic factors in their monetary value. Expected utility means that they seek to overcome the restrictions which the expected vlaue calcualtion, trying to formalize the decision of areas of activity in which the related gain an option does not have a numerical expression or cauing a more loss after the consumer choose to buy the product or consume the service in psychological view point.For book purchase reader case example, book publishers can attempt to apply behavioral economy method to predict reader individual reading behaviors. I shall explain as below:When a student chooses a book to buy to learn. He/she will compare different publishers' books sale price and contents whether which book is the cheapest or the book is not the cheapest, but the book's content is more utility or achieves whose economic benefit to let him/her to feel . So, the teaching book's the cheapest price is not the main influential factor to persuade any students to chooe to buy it preferable. But, if the teaching book's content can achieve the student's expected learning utility or learning expected value. Then, the student won't choose not to buy the teaching book, even it's price is more expective to compare other similar topics' teaching books.

Download or read book THE BEHAVIOUR BUSINESS written by Richard Chataway and published by Harriman House Limited. This book was released on 2020-02-18 with total page 187 pages. Available in PDF, EPUB and Kindle. Book excerpt: If you are in business, you are in the business of behaviour – and unless a business influences behaviour, it will not succeed. In the last 50 years we have learnt more about how we behave than over the previous 5,000. This book shows how behavioural science has revolutionised our understanding of how people really think (or don’t) – and how we can use those insights in our businesses to influence behaviour and gain competitive advantage. Richard Chataway works for the BVA Nudge Unit, a global consultancy specialising in behavioural change, and has experience in everything from getting people to join the armed forces, drink spirits rather than wine, and buy flatpack furniture – to developing the world’s most successful stop-smoking mobile app. Introducing the leading thinkers and practitioners from this new field (and sharing dozens of real-world examples), Richard guides readers through the hidden influences, biases and fallacies that influence the behaviour of customers, employees, and business leaders alike – and shows how we can ethically use these insights to: • powerfully attract and retain customers • fuel true and lasting innovation • stand apart in the new world of increasing automation and artificial intelligence • change workplaces and maintain happy and productive employees and teams • and a lot more! It’s time to shape behaviour instead of simply reacting to it. The Behaviour Business is the eye-opening, practical guide you have been waiting for.

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.

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.

Download or read book Pre Suasion written by Robert Cialdini and published by Simon and Schuster. This book was released on 2016-09-06 with total page 469 pages. Available in PDF, EPUB and Kindle. Book excerpt: The acclaimed New York Times and Wall Street Journal bestseller from Robert Cialdini—“the foremost expert on effective persuasion” (Harvard Business Review)—explains how it’s not necessarily the message itself that changes minds, but the key moment before you deliver that message. What separates effective communicators from truly successful persuaders? With the same rigorous scientific research and accessibility that made his Influence an iconic bestseller, Robert Cialdini explains how to prepare people to be receptive to a message before they experience it. Optimal persuasion is achieved only through optimal pre-suasion. In other words, to change “minds” a pre-suader must also change “states of mind.” Named a “Best Business Books of 2016” by the Financial Times, and “compelling” by The Wall Street Journal, Cialdini’s Pre-Suasion draws on his extensive experience as the most cited social psychologist of our time and explains the techniques a person should implement to become a master persuader. Altering a listener’s attitudes, beliefs, or experiences isn’t necessary, says Cialdini—all that’s required is for a communicator to redirect the audience’s focus of attention before a relevant action. From studies on advertising imagery to treating opiate addiction, from the annual letters of Berkshire Hathaway to the annals of history, Cialdini outlines the specific techniques you can use on online marketing campaigns and even effective wartime propaganda. He illustrates how the artful diversion of attention leads to successful pre-suasion and gets your targeted audience primed and ready to say, “Yes.” His book is “an essential tool for anyone serious about science based business strategies…and is destined to be an instant classic. It belongs on the shelf of anyone in business, from the CEO to the newest salesperson” (Forbes).

Download or read book The Business of Choice written by Matthew Willcox and published by Pearson Education. This book was released on 2015-02-20 with total page 247 pages. Available in PDF, EPUB and Kindle. Book excerpt: Winner of the 2016 Berry - AMA Book Prize for Best Book in Marketing from the American Marketing Association! Named Marketing Book of the Year for 2016 by Marketing & Sales Books! Reshape Consumer Behavior by Making Your Brand the Instinctive, Intuitive, Easy Choice • Discover powerful new ways to simplify and guide consumer decisions • Gain actionable insights into social influence, how people plan, and how they interpret the past • Leverage surprising advances in neuroscience, evolutionary biology, and the behavioral and social sciences Whatever your marketing or behavioral objective, you’ll be far more successful if you know how humans choose. Human intuitions and cognitive mechanisms have evolved over millions of years, but only now are marketers beginning to understand their impact on people’s decisions. The Business of Choice helps you apply new scientific insights to make your brand or target behavior the easiest, most instinctive choice. Matthew Willcox integrates the latest research advances with his own extensive enterprise marketing experience at FCB’s Institute of Decision Making. Willcox explains why we humans often seem so irrational, how marketers can leverage the same evolutionary factors that helped humans prosper as a species, how to make decisions simpler for your consumers, and how to make them feel good about their choices, so they keep coming back for more!

Download or read book Bulletin of the Atomic Scientists written by and published by . This book was released on 1966-06 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Bulletin of the Atomic Scientists is the premier public resource on scientific and technological developments that impact global security. Founded by Manhattan Project Scientists, the Bulletin's iconic "Doomsday Clock" stimulates solutions for a safer world.