The Power of Behavioral Economics in Pricing with Florian Bauer

<p><strong>Florian Bauer</strong> <span style= "font-weight: 400;">is an internationally sought-after expert and speaker on the subject of price psychology and behavioral pricing. He is an honorary professor at the Technical University of Munich and author of several books on price research. He also has a doctorate in Psychology at TU Darmstadt, MIT, and Harvard.</span></p> <p><span style="font-weight: 400;">In this episode, Florian talks about how discounts can give you short-term gain but cost you long-term. He underscores that there are other means to incentivize customers without diminishing a products’ value perception. And that, cashback is one thing to consider other than discounts. He also talks about buyers’ irrationalities and how to use Behavioral Economics to influence their decision-making and let it work in your favor.</span></p> <p><span style="font-weight: 400;">[powerpress] </span></p> <p><strong>Why you have to check out today’s podcast:</strong></p> <ul> <li style="font-weight: 400;"><span style="font-weight: 400;">Learn about the psychology of price structure and how it influences consumers’ buying behavior</span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">Find out what you can, what you should, and what you should not do when giving a discount</span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">Learn how Behavioral Economics can help you influence buyers’ decision-making and maximize your company’s profit</span></li> </ul> <p><span style="font-weight: 400;"> </span></p> <p><strong>“If you want to price or sell something, you have to think in two dimensions. You have to think about what people want. That's the traditional value-based approach. And you have to think in the dimension of how they decide.” </strong></p> <p><em><span style="font-weight: 400;">- Florian Bauer</span></em></p> <p><span style="font-weight: 400;"> </span></p> <p><strong>Increase Your Pricing Knowledge: Become a</strong> <strong><em>Champions of Value INSIDER!</em></strong></