Psychology and pricing might seem an odd pair, but chances are, you've unknowingly encountered and responded to psychological pricing structures. Think of tiered pricing where a premium option offers more value for a higher cost-it's all rooted in psychology. Consider a bundled package with a burger, fries, and a toy-it's more appealing than just a burger and fries, even if the bundle is pricier.
In this online lesson about pricing psychology Fabian Bartnick will explain how psychology can play a factor when it comes to pricing and increasing revenue.
What you'll learn in this lesson, Pricing psychology
- How psychology can be used in pricing to bring in more revenue
- Pricing is not only a price point to your guests