Price To Profit: Psychology & Science Of Pricing

Increase Business Profits by Smart Price and Marketing Psychology: Best Pricing Strategies to Influence Customers

What you'll learn
Price to Maximize Profit
Universal Rules of Pricing and Different Pricing Strategies
Learn How Consumers Perceive Price and Think about Price
How to Fight Price Wars
How to Run Sales Promotions to be the Winner
Dynamic Pricing from Airline Industry and Online Sales
Requirements
Open mind and your aptitude for learning
No pre-requisit about marketing psychology or customer psychology
Description
This course uses marketing psychology principles to educate you on the science and psychology of pricing. Price is what makes you money so deep understanding of how customers think about price can help you win customers and make more money. Pricing Strategies are powerful weapons in your hands to increase sales and more importantly profit. This course is pragmatic and applicable. It digs deep into scientific research of psychology and pricing in addition to the wisdom of pricing scholars and gurus. I have collected for you not only the tips and tricks to hack into customers' perception of price but also the overall strategies and consideration to coordinate your pricing strategies in any given situation or context.  Did you know if you increase price 1%, your profit can go up by 11%? So what can be done to increase your prices by creating a win-win situation with your customers will be discussed in this course. What You Will Learn:Universal Rules of Pricing: what is the overall How to Charge Higher Prices Confidently: Pricing is not about cost but about value perception of customers, we will see how you can find the higher price without losing sales. This can make you rich How to Fight Price Wars: Price wars are dangerous and costly. But they are inevitable. You will learn how to fight them if you have toPsychology of Pricing: How to Manipulate Price to Make it More Appealing: Does size or Color Matter? What's 99-ending pricing and other variations of odd pricing. Are they effective, when, and how? Here you will learn how to influence with Price.The Art of Discounting without Losing Profit: Discounting is another weapon in your arsenal. You need to learn when and how to use it maximize profitability. Random and blind discounting is prohibited. How to Enhance Consumption and Increase Renewal Rate: Interestingly price not only influences demand, it can also influence how people use products and services. Here you will learn how maximize renewal rate and consumption of your product. And many more interesting topics and bonus videos. To the best of my knowledge, this is the most complete pricing course in Udemy. Why Me?I am an award winning marketing professor in a major university in USA. I have a Ph.D in business and have taught many MBA course including pricing strategies in different countries. I have a passion for teaching and my teaching style has been applauded by my students all the time. It is simple, to the point, and engaging. My Udemy course are all "highest rated" and very positvely reviewed. So take this course now and let me take your business acumen to the next level. Who this course is for:EVERYONE because you are either a Seller or BuyerBecause everything has a PRICEBecause the Right Price will Make your RichWrong Price will make you Broke

Overview

Section 1: Introduction

Lecture 1 Introduction and Promotion. What is Covered?

Lecture 2 What is Price?

Lecture 3 Importance of Price for Profit Making

Section 2: Pricing Strategies and Rules

Lecture 4 Pricing Strategies

Lecture 5 Rule Number One of Pricing: Never Violate this Rule

Lecture 6 Rule Number Two of Pricing: How to Charge Higher Prices

Lecture 7 Price Elasticity and your Pricing Power

Section 3: Psychology Pricing

Lecture 8 Intro to Psychology Pricing

Lecture 9 99 Ending Effect

Lecture 10 99 Ending Effect Mechanism - The Left Digit Effect

Lecture 11 Other Odd Numbers Variation- 95 Ending or 99 Ending?

Lecture 12 Luxury Pricing - When 99 Ending does not work

Lecture 13 The Effect of Weird Pricing

Lecture 14 Color Size and Style of Price Tag Manipulation- Intro

Lecture 15 Color Size and Style Manipulation

Lecture 16 Temporal or Penny a Day Pricing

Section 4: Price and Psychology of Consumption

Lecture 17 Price and the Psychology of Consumption

Section 5: The Art of Fighting a Price War

Lecture 18 Introduction to Fighting a Price War

Lecture 19 The Art of Fighting a Price War- Step 1 Diagnosis

Lecture 20 Fighting a Price War- Step 2: STOP the War

Lecture 21 Fighting a Price War- Step 3: Non-price Actions

Lecture 22 Fighting a Price War- Step 4: Fight and Retreat

Section 6: Dynamic Pricing

Lecture 23 Dynamic Pricing

Section 7: Price Modification and Discounting Principles and Psychology

Lecture 24 Price Modification and Discounting Introduction

Lecture 25 Product and Price Versioning

Lecture 26 Product and Price Bundling

Lecture 27 Product and Price Unbundling

Lecture 28 Discounting Principles and Conditions

Lecture 29 Psychology of Discounting

Lecture 30 A Discounting Example

Section 8: Price Partitioning

Lecture 31 Intro to Partitioned Pricing

Lecture 32 Benefits of Price Partitioning

Lecture 33 The Effect of Size in Using Partitioned Prices

Lecture 34 Effect of Perceived Unfairness in Partitioned Prices

Lecture 35 Surplus Presentation - Actual or Percentage Amount?

Section 9: New Product Pricing

Lecture 36 New Product Pricing Principles

Lecture 37 Market Skimming and Market Penetration Pricing

Section 10: References and Extra Materials

Lecture 38 References

Business and Marketing Students,Any body interested in learning price influence,Entrepreneurs and Business Owners,Marketers and Sales People,Anyone Interested in the Application of Psychology in Pricing