The psychology of pricing


Ally Northfield

4m 40s

 

Lesson Details

Pricing psychology might seem pretty simple at first glance. People want lower prices and good value for money, right? Actually, the psychology of pricing is a lot more complex than that. We want lower prices - but compared to what? And where does our idea of ‘value’ even come from?

In this lesson, Ally Northfield will introduce you to the fascinating and complex world of pricing psychology - so you can make smarter, more strategic pricing decisions.

What you’ll learn

  • How people are influenced to make purchasing decisions
  • How consumers places value on products
  • Ways you can transform the concept of value into a price point
  • What prospect theory is, and how you can use it in your pricing strategy

This course is aimed at hotel managers looking to build on their knowledge of revenue management principles.

For successful completion of this course, Typsy recommends some prior knowledge of introductory revenue management principles.


Instructor

Ally Northfield

Revenue management specialist; Co-founder, Revenue by Design

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