Marketing: Price Psychology & Strategies

Course details

• Learn pricing strategies that best target your audience.
• Get advice which has been scientifically proven by Neuromarketing research to WORK!
• Discover the most appealing way to do everything from choosing the right price, displaying it most effectively and adding surcharges.
• A PDF guide for you to use in your business.
• Access to a FREE Psychology E-Book!… 
• Perfect for business owners looking to increase sales revenue, as well as anyone interested in practical psychology!

Boost your revenue with this course in Neuromarketing and Price Psychology! You will discover tricks to pricing that are scientifically proven to increase the likelihood that customers will buy your product. Whether you sell clothes or provide professional services, find out how Neuromarketing can improve your pricing strategies and enhance your business!

Andrew has a PhD in Social Psychology, with expertise in the domain of attitudes and persuasion. He has published papers on the subject in top journals, so is the perfect person to teach you how psychological findings in the field of Neuromarketing can be used to persuade customers into purchasing!

You will learn how to apply many simple psychological effects to dramatically raise your sales and revenue. You’ll gain understanding such as when to use .99p or a round price, and whether you should display discounts to the left or right of the original value. You’ll also find ways to frame and contextualise prices that appeal most to your specific target market. All this will help launch your business to success!

• Instructor Introduction
• Say hi to your fellow students!
• Share your new course with your friends!
• Course Introduction
• Course Overview - Pricing Psychology Notes

• The 99 Effect
• The Left Digit Effect
• The Round-Luxury Effect
• EXAMPLE - Wall Street Journal Interview
• Appealing to Price-Conscious Consumers
• 95 vs 99: Which is Better and When?
• The Precision Effect
• Ego Pricing

• The Syllables Effect
• Do Cents Make Sense?
• The Comma Effect
• The Verticality Effect
• The Male-Red Effect

• The Pennies-a-Day Strategy
• The Spare Change Effect
• Gain-Framings and 9-Ending Prices
• Time Framing

• Using Context to Your Advantage
• The Compromise Effect
• The Decoy Effect
• BONUS RESOURCE - Dan Ariely Discusses the Decoy Effect
• The Descending Order Effect
• The Anchoring Effect

• The Subtraction Principle
• The Ease of Computation Principle
• Percentage-Based Discounts
• The Relative Size Effect
• The Verbal Matching Effect

• The Relative Distance Effect
• Vertical vs. Horizontal Positioning: When To Use Which
• The Left Digit Effect (Returns!)
• The Right Digit Effect
• Putting Limits on the Offer

• Introduction to Partitioned Pricing
• The Role of Visual Surcharge Size
• The Role of Surcharge Amount
• The Surcharge Consolidation Effect
• Should Surcharges Be Presented as Percentages?
• The Reverse Partitioning Effect

• Goodbye and Parting Words
• Conclusion - Overview Notes
• Smart Marketing References
• BONUS - More from Andy Luttrell
• BONUS - Free Psychology E-Book

• Part 1 - Picking the Number
• Part 2 - Presenting the Price
• Part 3 - Framing
• Part 4 - Context Effects
• Part 5 - Smart Discounting
• Part 6 - Partitioned Pricing