Tag: Behavioral Psychology

Price war – The frantic pace of price changes | KnowTechie

Price war – The frantic pace of price changes | KnowTechie

Retail, whether online or at a physical store, is becoming increasingly competitive. Online stores forced traditional retailers to lower prices to stay competitive. Now, many brick & mortar chains are using the same pricing technology as online retailers and the price war is becoming a vicious cycle. The Increasing Frequency of Price Changes Online and […]

Lime Gearing Up to Add Cars to Its Fleet of Bikes and Scooters | Digital Trends

Lime Gearing Up to Add Cars to Its Fleet of Bikes and Scooters | Digital Trends

Lime is already running a bikesharing scheme in Seattle, though city officials have so far prevented scooter-based schemes from operating there. Carsharing offers fast rentals via a smartphone app and in many cases is more convenient than dealing with a traditional car-hire firm, which requires a visit to a specific office and the completion of paperwork […]

Pricer’s Points: Getting Pricing Wrong | Colleen Francis

Pricer’s Points: Getting Pricing Wrong | Colleen Francis

Recently I was at a large gathering of CEOs: all sharp thinkers who want to see their companies grow. While I’d been invited to address their forum to talk about the sales process, what many of them really wanted to ask me about afterwards was where they fit in that process. Specifically: do CEOs need to […]

Call for ‘surge pricing’ for taxi fares to be allowed… | News Talk

Call for ‘surge pricing’ for taxi fares to be allowed… | News Talk

There are calls for taxis drivers to be allowed raise fares during peak periods like the run-up to Christmas or weekends. MyTaxi confirmed to the Irish Times that they are in talks with the National Transport Authority about increased flexibility around pricing. Under current regulations, taxi drivers are restricted in the amount they can charge […]

Research Reveals Disconnect Between Retailers and Consumers on Pricing | WWD

Research Reveals Disconnect Between Retailers and Consumers on Pricing | WWD

Apparently, shoppers’ views of price points are completely different from those of the executive leaders behind the brands and products they buy. Research released today at the WWD Apparel and Retail CEO Summit by technology solution provider First Insight Inc. reveals that there’s a “significant disconnect between senior retail executives and consumers” regarding low prices. […]

Uber launches ‘Ride Pass’ subscription service | Business Insider

Uber launches ‘Ride Pass’ subscription service | Business Insider

Uber said on Tuesday that it started offering a subscription service, called Ride Pass, that allows users to guarantee set prices for a monthly fee. The service is available in Los Angeles, Austin, Orlando, Denver, and Miami, an Uber representative told Business Insider, adding that it costs $24.99 a month in Los Angeles and $14.99 […]

Orocobre seeing ‘psychology’ change in lithium pricing | MiningNews

Orocobre seeing ‘psychology’ change in lithium pricing | MiningNews

Orocobre achieved a new record quarterly sales price of US$14,699 per tonne (free-on-board) in the September quarter, above June’s record of $13,653/t. Managing director Richard Seville said he expected December quarter pricing to be lower, but pricing for the half shouldn’t be materially lower than what was achieved in the June half. He told analysts […]

Congestion Pricing Would Cut Weekly Express Bus Commute Times By Hours: Report | Streetsblog NYC

Congestion Pricing Would Cut Weekly Express Bus Commute Times By Hours: Report | Streetsblog NYC

Money is time. The proposed congestion pricing plan to create $1.5 billion in new funding for the MTA would also have the side benefit of saving express bus commuters up to two hours per week on their horrendously long commutes, a new report by the Riders Alliance reveals. All commutes on MTA express buses would […]

Online grocery shopping, spend poised to climb | Supermarket News

Online grocery shopping, spend poised to climb | Supermarket News

More than half of U.S. consumers are projected to be shopping online for groceries next year, and those who do are expected to boost their spending, according to KPMG’s 2018 Grocery Retail Consumer Perception Survey. Of more than 2,000 grocery customers polled, 48% currently do some or all of their grocery shopping online and 59% […]

Can Cognitive Biases be Used to Fix Prices? | Entrepreneur

Can Cognitive Biases be Used to Fix Prices? | Entrepreneur

How should we price our product? Should we start low, deliver value and then demand a higher price? Or should we start high? Price-Quality Heuristic Most people are aware of price-quality heuristic, maybe not by that name. Heuristics, simply put, are the mental shortcuts that people employ to make quick judgements. Price-quality heuristic is the […]