Public Relations & Social Marketing Insight

There’s more to a perfect pricing strategy than economics alone. Alongside input costs, demand, and industry competition, there’s another factor determining the success of your pricing: psychology.

Psychology and marketing go hand in hand. Today, I’m taking a quick look at four psychological principles behind successful pricing strategies. By combining these psychological quirks with a bit of customer insight, adjusting your pricing strategy by as little as a few cents could massively improve your sales....