Tag Archives: Pricing

The Pyschology of Price

I am continually fascinated by how the mind works, especially when it comes to price. Bundles are often a great way to get people to buy more (up-sell or cross-sell). Making it easy to order often times gets people to buy … Continue reading

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Bigger Words = More Money

Most of us have probably heard the disparaging remark that lawyers are paid by the word. Turns out they are not the only ones. According to Stanford computational linguist, Dan Jurafsky, based on his analysis of restaurant menus, “The more … Continue reading

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Pricing for Profit

Substantial research and evidence exists to show that people are irrational about prices … and predictably irrational. Another study, this time in the hospitality industry, demonstrates this fact. Cornell University did a research study on menu pricing in restaurants. The key … Continue reading

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What’s In A Name?

Companies spend big bucks selecting product names. Rebranding efforts are often driven by the perceived need for a “better” name. Some names have struck me as odd. One of my all time favorites was Non-Bleach Clorox. If Clorox=Bleach, what is … Continue reading

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What You Sell Is Not What They Are Buying

Why would people pay more for something that is provably the same as another thing that is less expensive? Two pairs of jeans can come off the same production line, one gets a “private label” and the other a “designer … Continue reading

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Is your price too low?

Pricing strategies are a challenge … especially in today’s hyper-competitive and transparent marketplace. Using price to induce trial is a subset of an overall pricing strategy. Many people believe that you can make an “offer they can’t refuse” to induce … Continue reading

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Seven Steps To Value Acceleration (Part 4)

When Ralph and I published our book Value Acceleration, we were asked for ideas on the steps to take to get Value Acceleration for your company. We came up with seven. We will post them here over the next several of … Continue reading

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