get the timing right to secure higher pricing

‘X for $29.00’ is better value than ‘$29.00 for X”  In marketing, perception is reality. Consumers buy based on their perception – and that is the reality. The reaction of consumers to a price is rarely as rational as businesspeople think it is.  Research completed by Karmarkar, Shiv and Knutson involved giving participants $40 to spend and using […]

‘X for $29.00’ is better value than ‘$29.00 for X”  In marketing, perception is reality. Consumers buy based on their perception – and that is the reality. The reaction of consumers to a price is rarely as rational as businesspeople think it is.  Research completed by Karmarkar, Shiv and Knutson involved giving participants $40 to spend and using an MRI to monitor brain function during the purchase or decision-making process. Option 1               Showing the product and then highlighting the price Option 2               Highlighting the price and then showing the product The researchers found that when confronted with these options, the participants asked themselves different questions: Option 1               Do I like this product? Option 2               Is this product worth the price? Option one emphasized the product, while option two emphasized the price. As a result, participants asked very different questions. This is an important finding. Communicating value occurs much more readily when the…

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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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