Behavioural Economics of Pricing

Behavioural Economics of Pricing

HelpScout reveal utilizing smart pricing strategies when selling your products, services or subscriptions is a crucial element in succeeding within the competitive marketplace. To gain a more clearer perspective of the subject, looking into studies in behavioural economics can help you set your prices accurately. The following methods can help set the correct prices:

  • Similarity can cost you sales
  • Utilize price anchoring 
  • Use Webers' law
  • Reduce pain points in the sales process
  • Try out old classics
  • Emphasize time spent vs. saved 
  • Never compare prices without a reason 
  • Exploit the power of context 
  • Test different levels of pricing 
  • Keep prices simple

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See how Stratinis can endeavour to optimize and manage your prices through our pricing software

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