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Marketing Psychology What is consumer behaviour? For secret psychological tips and tricks to get your buyers to take action and buy your products.

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Unread 01-29-2011, 04:53 PM   #1
Syeda
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Default Pricing Strategies: Urgent help

when you cant get edge over providing differentiation in service, the only thing is to go for pricing strategies.

discount offer at one price is better, or different customized packages would be attractive for customers???

Plz give me suggestions
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Unread 01-30-2011, 06:48 PM   #2
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Well, one great hot button when you are selling is to make people feel like they are getting a great deal.

An example of this might be buy one get one half price. The perception is that you are receiving two-for-one but in reality they are only getting a 1/8th discount per item and having to purchase two items.

Another idea is to have a series of related products and offer them in a bundle that makes it look like a bargain.

if you have 10 $37 products then package them together, that would originally cost $370 but with this special bulk discount you can get them for only $197 combined.

Remember this is on top of risk reversal, guarantees and testimonials - pack them all together and cause a punch in their stomach if they don't buy.

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Unread 01-31-2011, 06:34 AM   #3
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Thank you so much for the reply...

in fact we are offering educational services.
Right now we have one fixed price per hour ....for different number of hours even.

but now as customers are less...thinking for either

1. One discount like 10 % off at that rate for any number of hours...
2. Price per hour decrease as number of hours increase...(because people going for less hours right now)

So what would be good?
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Unread 02-01-2011, 11:43 PM   #4
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What about giving people packages of hours,
10 hours for $100, 20 hours for $150, 30 hours for $200 - something like that to make it worth their while to order more hours?

And give them fancy names like bronze, silver, gold, platinum etc. that always helps

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Unread 02-03-2011, 02:37 PM   #5
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As it's educational, I guess you will cover more than one subject? If so why not offer "Buy this subject education for .... and get this subject half price" I guess that would entice your viewers as well.

If I remember correctly I think I saw Dave present this typical solution in another post somewhere else.. how in fact your not really getting it half price or something like that.. I'll see if I can find the post and I'll edit and link it for you.

EDIT> Okay I think I'm going nuts, Daves post is in this thread >.<

Adam

Last edited by adamstaerck; 02-03-2011 at 02:41 PM..

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Unread 02-14-2011, 05:21 AM   #6
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Customization is great, but just know that the fewer product options you have the better. A study was done testing potential product buyers, and the results concluded that when a buyer is confronted with many options, he becomes overwhelmed and may decide not to make any choice at all. They say to generally limit the options to three. I wish I knew where this study came from, but I don't off the top of my head.

My two cents.
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Unread 02-21-2011, 04:10 PM   #7
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Are you really sure price is your barrier? You may be simply reducing your total revenue.

I'd be tempted to look at pricing strategies that don't require discounting first - look at the psychology of framing for an example.

Best of luck,
Rob

www.marketingpost.info
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Unread 08-09-2012, 11:48 AM   #8
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Three types of pricing strategy:
setting a price by adding a a fixed amount to the cost of making the product.
setting price in a reasonable amount that every customer able to pay.
setting price according to current pricing issues and competitors pricing details.

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Unread 09-26-2012, 06:29 AM   #9
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Specifying product price is really important, before add price market research is really important.
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Unread 11-02-2012, 04:12 PM   #10
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package deals are great, also deals and discounts for customers who roll over month to month its good to offer them intensives for their continued business

Bernardo Ramirez– Email Marketing (EMC)
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