consumers are irrational

RESEARCH SUPPORTS SOME VERY POPULAR PRICING STRATEGIES This is the fifth of five articles in THE REPORT this week on the subject of pricing – considering strategies for maximising margins in the short, medium and long terms. We are all familiar with the pricing strategy involving the number ‘9’. There has long been a view […]

RESEARCH SUPPORTS SOME VERY POPULAR PRICING STRATEGIES This is the fifth of five articles in THE REPORT this week on the subject of pricing – considering strategies for maximising margins in the short, medium and long terms. We are all familiar with the pricing strategy involving the number ‘9’. There has long been a view that a product priced at $39 will sell better than the same product sold for $40. What is more research carried out by William Poundstone has found this view to be an accurate reflection of reality. A product will sell better at $39 than $40. But wait – there is more… In a study Poundstone compared three price points – $39, $34 and $40 and found that $39 generated the highest level of sales – even more than $34. This suggest both the power of ‘9’ and the impact of fast thinking. In another study…

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Five Tips For Reducing
The Cost Of Branding.

Burning money on branding is more common than most marketers think. Because few businesses truly understand what a brand is and how branding works, advertising agencies, branding agencies and design studios have become expert at spending their client’s money without effective accountability.

Burning money on branding is more common than most marketers think. Because few businesses truly understand what a brand is and how branding works, advertising agencies, branding agencies and design studios have become expert at spending their client’s money without effective accountability.

1. Get out of the boardroom.

Perhaps the two most concerning issues about branding are the lack of understanding about what brand and branding are and the propensity to develop brands in the boardroom, perhaps with the help of a consultant.....

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