The Psychology of Price and Why It Matters
James Dion
Format: Video of Slides with Synchronized Audio

Consumers are obsessed with low prices and deals. Learn at least ten pricing strategies that you can deploy to appeal to the price conscious consumer that do not involve lowering price.

At the end of this session, participants should be able to:
Discuss the psychological implications of price strategies on consumers and why low price and deals appeal to them
Determine what price strategies to deploy to cater to a price conscious consumer that do not involve lowering prices
Identify the mistakes retailers make when they lower their prices in an attempt to respond to consumers' obsession with low price and why these will eventually put them out if business
Describe what not to say to a consumer about prices