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Tag: Decoy Effect

The Decoy Effect: One Pricing Strategy You Don’t Want to Overlook | Freshplum

The Decoy Effect: One Pricing Strategy You Don’t Want to Overlook | Freshplum

It’s common sense to want your product to look good, and one tried-and-true way to make that happen has always been through contrast. If you can compare your product favorably against a competitor’s product, then you should do it. Similarly, it is not uncommon to see a brand or a store offer a product that […]

Pricer’s Points: Pricing Strategies – Are You Charging Enough? | David F Lewis

Pricer’s Points: Pricing Strategies – Are You Charging Enough? | David F Lewis

Not too long ago, to my embarrassment, I learned I’d been pricing my service plans completely wrong. It pains me to think about the money that was unknowingly being left on the table. Of all the nuances of business and selling, pricing a product should be one of the easier parts. A product doesn’t just […]

Pricer’s Points | September 2014

Pricer’s Points | September 2014

The “Pricer’s Points” blog series provides a forum for pricing professionals to share their insights and experience. Our guest bloggers share their knowledge about specific product or industry challenges, geographic complexities, strategies, tactics, and technologies. This Edition is Sponsored by: Strategic Pricing Associates SPA is the leading provider of pricing analytics to 100′s of complex companies of […]

Pricing News Daily > 8/28/14

Pricing News Daily > 8/28/14

Pricing News Daily is a digest of top pricing strategy in the news, strategy expert and technology leader’s thought leadership, industry news and events, and resources for pricing professionals. This Edition is Sponsored by: Value Innoruption Advisors Founded by Dr. Stephan Liozu, Value Innoruption Advisors provides training and consulting resources for organizations interested in embedding value-based […]

Magazine Pricing Still an Opportunity for Improvement | Mequoda Daily

Magazine Pricing Still an Opportunity for Improvement | Mequoda Daily

From throw-away products to bundles to universal pricing, magazine publishers are still all over the map Magazine pricing strategy has certainly evolved quickly over the past year. In 2013, we still believed that universal pricing was the best way to handle print, website and tablet products. Today, we’ve evolved our own thinking and our new […]

Pricing News Daily > 8/22/14

Pricing News Daily > 8/22/14

Pricing News Daily is a digest of top pricing strategy in the news, strategy expert and technology leader’s thought leadership, industry news and events, and resources for pricing professionals. This Edition is Sponsored by: Asia Pricing Professionals Asia Pricing Professionals (APP) is a not-for-profit community of pricing management practitioners. Our key objective is to raise the […]

Pricing News Daily > 8/20/14

Pricing News Daily > 8/20/14

Pricing News Daily is a digest of top pricing strategy in the news, strategy expert and technology leader’s thought leadership, industry news and events, and resources for pricing professionals. This Edition is Sponsored by: Value Innoruption Advisors Founded by Dr. Stephan Liozu, Value Innoruption Advisors provides training and consulting resources for organizations interested in embedding value-based […]

Pricer’s Points: Using decoy pricing to maximise profits. | Matt Burnett

Pricer’s Points: Using decoy pricing to maximise profits. | Matt Burnett

Use decoy pricing to encourage your customers to trade up. The main objective of any pricing manager is maximising revenue and profitability. It’s not easy and is in fact an endless task. One way we can try to achieve this is through trade up. If we can encourage our customers to buy our most highly […]

Pricing News Daily > 8/14/14

Pricing News Daily > 8/14/14

Pricing News Daily is a digest of top pricing strategy in the news, strategy expert and technology leader’s thought leadership, industry news and events, and resources for pricing professionals. This Edition is Sponsored by: Asia Pricing Professionals Asia Pricing Professionals (APP) is a not-for-profit community of pricing management practitioners. Our key objective is to raise the […]

Cheep Beer and the Psychology of PlayStation Now Pricing | The Psychology of Video Games

Cheep Beer and the Psychology of PlayStation Now Pricing | The Psychology of Video Games

Psychologists studying consumer choice call this an “attraction effect.” It happens when one choice dominates another by being mostly similar to it, but better on at least one important aspect. The reason, as usual, is because of how our brains are wired. We simply aren’t very good at evaluating things in absolute terms, like the […]