Pricing, The Secret
Posted on19 Sep 2013
Tagsanchoring, Dan Ariely, economics, food, Influence, James Surowiecki, neoclassical economics, price, rationale, restaurant, subjective, taste, The Economist, The New Yorker, Tom Sawyer fence painting, values, George Loewenstein, Drazen Prelec, supply and demand, lobster, violins
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
Tagsmarketing, emotional triggers, Pricing - The Secret Series, Starbucks, Yahoo!, YinYang, symbolism, storytelling, price, Picasso, labels, Harvard Business Review, decisions, arbitrariness, anchoring
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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
TagsPlay - Pricing Analogy, Pricing - The Secret Series, personification, storytelling, service, sales, relationships, rationale, product, price, emotions, change, branding, anchoring
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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
Tagsstorytelling, bricks-complexity analogy, Skoda Minotti, emotional triggers, security, price, law, fiction, business, arbitrariness
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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
