Perfect Pricing


Presentation Description

How to price your items, particularly on the internet


Presentation Transcript

Perfect Pricing:

Perfect Pricing The psychology of online prices

The right price:

The right price How much is too much to charge? How much makes the item seem cheap? What is the maximum price people will pay?

Which is cheapest?:

Which is cheapest? $197 $195 $199

Which is the best price?:

Which is the best price? $166 $197 $122

Price is everything:

Price is everything Price Number sold Income $197 10 $1,970 $166 15 $2,490 $122 13 $1,586

Odds and evens:

Odds and evens Odd numbers feel smaller than even numbers 9 seems less than 8 when we look at it quickly we tend to round up even numbers but round down odd ones, adding to the “low” feeling

Long and short:

Long and short Vowel sounds influence size Long vowels as in “nine” sound big Short vowels as in “six” sound small Consonants influence size Some consonants seem small – x, s, f Other consonants seem bigger – b, c, d

Make them sound right:

Make them sound right The sounds of your prices need a combination of short vowels and specific consonants Six (6) and Seven (7) sound better than Five (5) or (9) The numbers 1, 6, 7 are good price numbers

PowerPoint Presentation:

Contact Details Graham Jones can help you use psychological tactics to improve your website and your online presence graham Tel: +44 118 336 9710

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