Smarter Pricing: How to capture more value in your market

Chapter takeaways

• Nine answers to the question, ‘Why pay more?’

  – genuinely better product, clearly communicated

  – highlight the risks, provide reassurance

  – show the trade-offs customers are making with lower prices

  – give customers price steps for better specifications and let them choose

  – encourage customers word-of-mouth recommendation – they can sell premium prices better than you

  – create the appropriate quality context for communications

  – use colour association to convey quality

  – use sensory cues like touch, sound and smell to shape perceptions

  – seek opportunities for pricing theatre and entertainment.

• You need accurate billing systems and invoices that customers can understand.

• How to announce price increases – ten best practices.

• How to increase ...