pricing

How To Set the Right Price Every Time

Exactly how to price products is a big challenge for marketers, but new research provides valuable direction in this complex decision-making process.

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Discounts Sabotage

Is your customer acquisition (and retention) strategy based on discount pricing? How's that working for you? 

Discounts might be working well to bring customers in the door, but do they stay after they're in? Can you keep those that you acquire? Are you creating a precedence that is not sustainable?

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What Is the Price of Customer Loyalty and Who Pays It?

I say that there is a ‘price’ attached to everything and it is always paid. What is open to influence is ‘who’ pays the ‘price’. The question I wish to address in this conversation is this one: what is the price of customer loyalty and who pays it?

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Is This Common Pricing Mistake Costing You Sales?

If you have an ecommerce site, how often do customers visit – often after a costly paid click – and end up leaving without buying? Are abandoned shopping carts all too common? Or, if your customers visit your retail store, how often do you see them compare several items, only to buy none of them and move on? If you stock similar items (and who doesn’t?), the problem could be your pricing.

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Robo-Pricing

There was something of a kerfuffle recently when it became public knowledge that travel website Orbitz were recommending different price ranges of hotels based on the user's operating system. Data mining had told them that Mac users typically pay a premium of upto 30% on a night's stay so they were using data to improve content recommendation, and in the process their chances of selling products at premium prices.

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The Hidden Danger in Product Bundles

Does grouping products together into a single-price bundle increase the perception of value? Most of us would answer “yes,” but surprising new research shows there is at least one condition where such grouping can actually reduce the apparent value. In fact, the bundle may be seen as worth not just less than the sum of its parts, but less than the individual product!

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An Easy Way to Make Your Prices Seem Lower

Does the way you write a price make it seem higher or lower? Of course! We already know that including a currency symbol can have a negative effect – that’s why you see some restaurants pricing a steak at “29″ instead of “$29″ (see Neuro-Menus and Restaurant Psychology). But new research shows that punctuation and decimals can make a difference in how people perceive prices.

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SXSW learnings: Dynamic Pricing

Guest Post by: Rick Burgess

Why we have price tags

The concept of a price tag on every product is actually a relatively recent idea. Up until about a hundred years ago, the expected method of purchasing something from a store was to select what you wanted and then barter for the price you wanted to pay.

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Kickstarter, Tim Ferriss and a New Pricing Model for Creative Assets

Ever since the introduction of the iTunes music store, I was under the impression that $0.99 would become the default price for all digital content. One way or another, content would be continually sliced and diced into ever-smaller pieces of micro-content, such that the market-clearing price for that content would become $0.99. Then I ran into Kickstarter, the innovative crowdfunding site for artistic and creative projects.

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Walmarting the Category

P&G is slashing prices and attacking new markets worldwide in a dash for improved sales and increased share. I don’t quite understand how this is a business strategy for any business other than Walmart. It just seems like brand suicide.

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