Marketing: Price Psychology & Strategies

Introduction to Price Psychology
Instructor Introduction
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Course Introduction
Course Overview - Pricing Psychology Notes

Picking the Number
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

Presenting the Price Visually and Auditorily
The Syllables Effect
Do Cents Make Sense?
The Comma Effect
The Verticality Effect
The Male-Red Effect

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

Using Context to Your Advantage
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

Smart Discounting Practices 1
The Subtraction Principle
The Ease of Computation Principle
Percentage-Based Discounts
The Relative Size Effect
The Verbal Matching Effect

Smart Discounting Practices 2
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

How to Handle Additional Charges
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

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

Quiz
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