The Psychology of Pricing (How to Price Your Platypus)
Simple Ways to Increase Your Prices.
You’ve developed a new product or service and there’s just one thing left to do - price it. What number will you choose? You don’t want to look to cheap, nor do you want to price yourself out of the market… If you’ve ever struggled with knowing what to charge, then it’s time to get to grips with the science and psychology of pricing. David will introduce you to a range of ideas on pricing decisions, and you will come away with action plans to increase your prices which can be implemented quickly and easily, and with almost no cost.
Help attendees recognise some simple, low cost and very quick to implement concepts that can help them improve their prices.
- How we make decisions
- Why this applies to B2B as well as B2C
- Six pricing concepts, so that the audience can choose the one or two most appropriate to their industry
- The adverse impact of discounts
- What success looks like when you increase prices
There are very few organisations that don’t want to charge a higher price for what they do - either slightly or dramatically. Anyone who implements the concepts from David's workshop will see an improvement in their margins. David provides a workbook which summarises each concept and provides space to make notes relevant to their company as we go through the session. David would expect attendees to choose one or two pricing ideas; to work with their teams back in the office to implement them; and to measure their impact, so that they know what works and what doesn’t. He does not expect them to apply all six concepts!
Why a Platypus
Imagine you have been given a challenge. You have a real 2-year-old male platypus, and you have to sell it for the highest price you can. Where do you start? You can try Google, but you’re out of luck. No one else sells a Platypus, so you can’t just copy their price. Most businesses have a platypus or two. A product or service that you know ought to command a higher price but you just don’t know how to get it; or you feel you are
under price pressure which you’re not sure how to resist.