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The Psychology of Price: How to Use Price to Increase Demand, Profit and Customer Satisfaction

The Psychology of Price: How to Use Price to Increase Demand, Profit and Customer Satisfaction

Paperback

By (author) Leigh Caldwell

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  • Publisher: Crimson Publishing
  • Format: Paperback | 248 pages
  • Dimensions: 138mm x 212mm x 12mm | 281g
  • Publication date: 2 November 2012
  • Publication City/Country: Richmond
  • ISBN 10: 1780590075
  • ISBN 13: 9781780590073
  • Sales rank: 186,084

Product description

One of the most important questions for any business is: how much should I charge? Economics has an easy answer - just look at where demand and supply meet. Unfortunately, this easy answer is wrong. What about the effect of changing the timing on a payment? How do a customer's personal and financial circumstances affect their willingness to pay? Using The Psychology of Price, you can discover why price is a psychological issue - and how to make the most of that knowledge. Written by the founder of the UK's leading pricing consultancy Inon - whose clients range from the BBC and confused.com to Grants Whisky and HM Treasury - The Psychology of Price offers a unique opportunity for business owners and finance and marketing professionals to gain an insight into the way consumers think and purchase - and to learn the actual research methods and pricing techniques used by multinational companies. A practical, jargon-free workbook, The Psychology of Price demystifies a critical aspect of running a business, lucidly and logically explaining the science behind pricing so that you can generate more demand, more profit and more customer value today. Inside The Psychology of Price, you can learn: -How to get people to expect to pay more -How presenting products that nobody wants can influence what customers are willing to pay -How upselling by low-cost add-ons can increase sales and perceived value Crucially, The Psychology of Price will help you find out how good your pricing really is and give you the toolkit to ensure you charge the right price point for your product or service. What have you got to lose?

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Author information

Leigh 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.