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

Read more at: http://www.helpscout.net/blog/pricing-strategies/

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