January 2005
Intermediate to advanced
232 pages
5h 35m
English
Content preview from Smarter Pricing: How to capture more value in your marketBecome an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
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Pricing cues – the magic of 99p
There are a number of pricing cues that buyers understand. The most obvious is the word ‘sale’ alongside products in retail outlets. Research by Anderson and Simester (2003) shows that displaying ‘sale’ beside the price of an item in a mail order catalogue (with or without actually varying the price) can increase demand by more then 50 percent. Of course, retailers can (and some do) mislead consumers with non-genuine sale offers. Misuse of this tactic is controlled by legislation, media attention and the limits of consumer credibility. A small number of ‘sale’ signs will increase customer purchases. Too many ‘sale’ signs will diminish overall sales.
Another common pricing cue is using a 9 at the end of a price ...
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I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.