Tag: price anchoring

Will Dynamic Pricing Change Sales of Car Parts? | PYMNTS.com

Will Dynamic Pricing Change Sales of Car Parts? | PYMNTS.com

Dynamic pricing has produced more than $1 billion in revenue for automakers over the last decade, according to a report from Reuters this week (June 3). The account of that earnings boost not only reveals how the process works, but raises questions about how the use of pricing software might change the automotive and insurance […]

Software and stealth: how carmakers hike spare parts prices | Reuters

Software and stealth: how carmakers hike spare parts prices | Reuters

LONDON/PARIS (Reuters) – Carmakers including Renault, Jaguar Land Rover and Peugeot have boosted revenues by over $1 billion in the past decade by using sophisticated pricing software, according to sales presentations prepared by the software vendor, Accenture, and other documents filed in a court case. The software works, Accenture told prospective clients, by identifying which […]

Product Gems: Car Sales 101: Anchoring | Product Gems

Product Gems: Car Sales 101: Anchoring | Product Gems

Very few buyers expect to pay the full advertised price for a new car. Walking into the showroom you’re confident of negotiating a good deal, remembering that one time you haggled for some souvenirs in a bazaar on holiday. You see the price sticker in the car window. Of course, you’re not going to pay […]

The Super Effective Pricing Strategy You May Be Overlooking | Inc.com

The Super Effective Pricing Strategy You May Be Overlooking | Inc.com

There was a time when pricing was almost a consequence of other decisions made by a company. Companies used to figure out their cost and tack on a few pennies. Today, companies reverse engineer their solutions based on a price point. In his book Priceless: The Myth of Fair Value, MIT professor William Poundstone shared a discovery that rocked the […]

The Psychology of Price in UX | Webdesigner Depot

The Psychology of Price in UX | Webdesigner Depot

Anchoring in the Real World Do this test at home: Find 3 bowls. Fill one bowl with cold water, the second with hot water and third one with lukewarm water. Now, stick one hand in the cold water and the other one in the hot water and keep them there for 30 seconds or so. […]

Accounting Firm Fees: Increasing Pricing With Current Clients | Firm of the Future

Accounting Firm Fees: Increasing Pricing With Current Clients | Firm of the Future

Top-Down Pricing You can also set top-down pricing by starting with total client savings or the perceived value of the project. One of the easiest examples of this in the QuickBooks® consulting world is when you acquire a client who needs to downsize his or her accounting system. Let’s say the owner is paying $20,000 […]

Pricer’s Points: Why you spend more when prices end in .99 | Kent Hendricks

Pricer’s Points: Why you spend more when prices end in .99 | Kent Hendricks

I once worked at a company that priced everything with a .95 ending. The bestselling software package was $999.95. Add-on products were $9.95, or $19.95, or $49.95. Everything ended with a .95. It had been this way for more than twenty years. One day, one of the VPs suggested we change all prices to end […]

Conquering the Beast: Charging the Right Fees | AccountingWEB

Conquering the Beast: Charging the Right Fees | AccountingWEB

Almost every CPA I mentor tangles themselves in a web of confusion and wrestles with the same beast. The confusing nail biting beast that I am referring to is pricing. It really pains me to see fellow practitioners struggle with pricing and not setting, or getting, the fees that they deserve. And realistically, when approached […]

The Psychology of Competitive Pricing for Ecommerce | Business2Community

The Psychology of Competitive Pricing for Ecommerce | Business2Community

Pricing for ecommerce is a tricky beast. You need to account for competition with other sellers, but you don’t want to de-value your products in a race-to-the-bottom. Purely competitive pricing can lead to disappointing results: you might not sell enough to compensate for offering the lowest prices. A profitable pricing strategy involves considering not only […]

The Guidelines Around Pricing Your Home | WBT – Charlotte

The Guidelines Around Pricing Your Home | WBT – Charlotte

About pricing your home. And I really wanna talk to you about. The guidelines. Around it and I think it’s important right now in this season. When your getting ready to Lister home which you should because you don’t have a lot of competition right now and remember every showing that you have during this […]