Pricing, The Secret
Posted on19 Sep 2013
Tagsrestaurant, violins, lobster, supply and demand, Drazen Prelec, George Loewenstein, values, Tom Sawyer fence painting, The New Yorker, The Economist, taste, subjective, rationale, price, neoclassical economics, James Surowiecki, Influence, food, economics, Dan Ariely, anchoring
Comments2
The secret to pricing is its arbitrariness, subjectivity. What disrupts this is anchoring, a preconceived benchmark of what should be the price.... Read More
Tapping Pricing’s Secret (Pt 1): Story, Symbol, Emotions
Posted on14 Oct 2013
Tagsdecisions, YinYang, symbolism, storytelling, price, Picasso, marketing, labels, Harvard Business Review, arbitrariness, anchoring, Yahoo!, Starbucks, Pricing - The Secret Series, emotional triggers
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Tapping pricing’s secret is a battle over establishing the anchor in the consumer’s mind. Unless we are the ones who set the... Read More
Tapping Pricing’s Secret (Pt 2): Setting the Stage
Posted on31 Oct 2013
TagsPricing - The Secret Series, Play - Pricing Analogy, storytelling, service, sales, relationships, rationale, product, anchoring, branding, change, emotions, personification, price
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Normally, when pricing our products and services, we research the market, compare our features and benefits, consider our margins and then set... Read More
Storytelling’s Importance in Business Valuations
Posted on06 Nov 2014
Tagsarbitrariness, business, fiction, law, price, security, storytelling, emotional triggers, Skoda Minotti, bricks-complexity analogy
Comments2
I’ve written much about storytelling’s importance. Yet, I was surprised when I attended a business valuation seminar by Skoda Minotti CPA’s, Business... Read More
