Are you leaving money on the table? Gain insight into leveraging the perception of value while increasing customer satisfaction: learn to employ best practices and research into the behavioral economics driving purchasing decisions to establish your pricing power.
THE PARADOX OF PRICING POWER: ASK MORE, EARN MORE.
Consumer behavior is irrational – people are finnicky, temperamental, and subjective. But they’re also highly predictable. Thus, when it comes to determining optimal product pricing, there’s one thing to keep in mind: the perception of value is value.
In his latest work, The Price Whisperer, Per Sjöfors explores the complex network of variables that regulate customer perception of price and value, that is, why people buy one product and not another. By isolating key factors that determine a target market’s willingness to pay, businesses can effectively hack their existing model, thereby increasing asking price and sales volume. It’s not black magic, it’s human psychology.
Start reading now to:
Understand the unique internal and external factors that control consumer purchase behavior in your industry
Learn how to increase pricing without sacrificing sales volume
Discover how to identify the “right” customer for your products and save your marketing dollars for an audience primed for your business
Learn why pricing does not exist in a vacuum and how the “set and forget” approach is a recipe for failure
Discover why lowering prices and offering frequent discounts seldomly translates into greater purchasing volume
Understand how price, in and of itself, sets an expectation of quality and benefit or lack thereof
Learn how to hack your existing model structure by approaching consumer behavior as a psychologist, not an entrepreneur
You might have the right product, the right marketing strategy and the right branding…but if your pricing is off, your business will suffer.
Find your audience, tailor your message and value your product correctly! Grab your copy of The Price Whisperer today!
Per Sjofors is the Founder of Sjöfors and Partners.
Pricing has always been of keen interest and fascination for Per. As a serial entrepreneur, running companies in Europe and the US, he did pricing experiments. Some of these worked spectacularly well, and some did not work at all. As a result, Per founded his company out of his frustration with what business schools teach about pricing: it’s presented as too abstract and too academic for a business executive to act on, and likewise with books about pricing. Consequently, he set out to make pricing practical and actionable, and this stems from a deep understanding how the 4 Ps of marketing interact and how changes in one of these Ps affect Price. Since then, he has been at the forefront as a thought leader in everything pricing and he is a sought-after speaker for a variety of conferences and business circuits.
Per appears regularly on podcasts and business radio shows and gets quoted regularly in the financial press, including Forbes, Fortune Magazine, Inc., Industry Week, Business Insider and the Financial Times.
Prior to Sjöfors and Partners, Per gained more than 25 years of executive management experience where he developed an appreciation for the importance of optimal pricing. More can be found at www.sjofors.com.