This document discusses pricing psychology and ways to increase the perceived value of products. It notes that value is subjective and influenced by factors like reference points, wealth, knowledge, and tastes. It provides tips for pricing, including ending in $5 or $9. Methods for increasing perceived value include improving the actual product, associating it with experts, creating emotional attachment, offering good service, giving the product a personality, selling more than just the item, providing assurances, creating a sense of community, emphasizing work put into it, and appealing to fairness. More advanced strategies involve using "signposts" and developing a "blue ocean" approach.
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Don't just roll the dice ch2
1. Dont Just Roll The Dice
Pricing Psychology:
What is your product worth?
6. Ways of increasing value
increasing products object value
linking product to expert
making people love the product
providing a better service
7. (Advanced) Ways of
increasing value
giving product personality
selling more than just the physical product
providing assurance
creating a tribe
reminding people of how much work youve put into
your product
appealing to peoples sense of fairness
10. discussion
how to utilise the skills provided by this chapter
to increase the perceived value of your friends
product? (20 mins)
providing a new(and customised) skill to
increase your products perceived value. (15
mins)