How to use Left Digit Distortion to make your pricing look better!
Filed under: *Video Episodes* - Sales Influence Moments, Pricing Strategies | Tagged: atlanta, georgia, left digit distortion, price, pricing, proposals, sales trainer, sales training, selling, victor antonio | 3 Comments »
The psychology of how the “endowment effect” works and how you can use it to create greater customer satisfaction.
Filed under: *Video Episodes* - Sales Influence Moments, Pricing Strategies | Tagged: atlanta georgia, client satisfaction, customer satisfaction, discount, discounting, discounts, endowment effect, influence, pricing, psychology of selling, refunds, sales, sales trainer, sales training, selling, victor antonio | Leave a Comment »
Great video on how price influences a person’s perception of a product.
Filed under: *Video Episodes* - Sales Influence Moments, Pricing Strategies | 2 Comments »
How you present price can have a huge impact on how well the client accepts or rejects pricing. There are two ways to present pricing: consolidated or partitioned. The video answers the question, “Which is more effective?”
Filed under: *Video Episodes* - Sales Influence Moments, Pricing Strategies | 2 Comments »
Does price really impact how we view a product? Can price influence what we think of a product? The answer is surprisingly, yes!
Researchers at Stanford and the California Institute of Technology asked volunteers to taste five different wines with the following price labels: $90, $45, $35, $10 and $5. The results?
But wait, that was only the setup. The real ‘aha’ moment came when the volunteers were told that the $90 wine was also the same as the $10 wine ($90 = $10). And that that the $45 wine bottle was the same as the $5 dollar wine bottle ($45 = $5). Yet, the wine tasters never noticed it.
Without fail each of the wine tasters found the more expensive bottles to be the best wines. In fact, brain scans confirm that when recipients try an expensive wine, part of the pleasure centers in their brains light up. When they try less expensive wine, and they’re aware of it, their brain registers less pleasure.
In other words, the expectation based solely on the price, influences how the brain ‘chooses’ to perceive how good (or bad) the wine tastes. Price influences opinions. Price does matter! The cognitive heuristic: expensive equals good holds true.
Filed under: Motivation, Pricing Strategies | Tagged: atlanta, expensive product, ga, georgia, price perception, pricing, sales influence, sales persuasion, sales trainer, sales training, selling | Leave a Comment »
