To effectively implement Psychology of pricing or change your product or service pricing, you must possess a clear understanding of how customers react to prices. Believe it or not, psychology plays a big role in this process. What you set as your price and how customers perceive that price can have a significant impact on […]
Special offers are temporary inducements to make customers buy or try in the base of price. Regardless of the form that special offers appear, typically in a coupon, special offers give consumers or intermediaries a way to get the product for less than the list price. When we design a special offer such as a temporary […]
Designing your offer isn’t the hardest part. The biggest trick is guessing the redemption rate = the percentage of people who accurately use your coupon. You make the stakes when you use big offers, which makes them riskier to forecast. I love when clients say it worked for them “pretty well,” good luck pal I bet […]
Your existing brand name has some degree of brand identity and a certain amount of customer loyalty already. Often your best investment is to boost the strength of your brand image, improve your design or packaging. Doubt so takes advantage of any existing brand equity, which is easier than starting from scratch. Here is a […]
