In this short and easy to follow deck i present some tips and lessons to be taken in to account when thinking about product pricing and customer engagement in relation to the product price and product display

1. PRODUCT PRICING
AND DISPLAY
LESSONS LEARNED &
TIPS

2. THE GAP BETWEEN THE REWARD (CHOCOLATE) AND
THE PAIN (PRICE) MAKES THE CUSTOMER WANT TO
MAKE THE PURCHASE
Credit: travelandescape.ca

3. DEPICTING THE PRODUCT WITH STYLE AND
LAUDATIVE (DOESN’T EVEN HAVE TO BE ABOUT THE
PRODUCT ITSELF), MAKES IT MORE DESIRABLE.
DECREASES THE PAIN AND INCREASES THE SALES
Credit: sheknows.com

4. DISPLAYING THE PRODUCT'S PRICE WITHOUT THE $
DOLLAR SIGN IS SEEN AS BETTER AND CAUSES LESS
PSYCHOLOGICAL PAIN TO THE CUSTOMER
Credit: workwithtineshiatoole.com

5. ANCHOR PRICE – DISPLAY THE
PRODUCT'S PRICE COMPARED TO THE
EXPECTED PRICE, AND NOT TO OTHER
PRODUCTS
Credit: wired.com

6. DISPLAY OF THE PRICE
AS A SALE/TIME-LIMITED/DISCOUNT SENDS
CUSTOMERS THE MESSAGE THAT THIS PRICE IS
SPECIAL AND MAY CHANGE AT ANY TIME AND THEY
MAY LOOSE AN OPPORTUNITY
Credits: wbjanitorial.ca, jonwatts.com, theinstitute.ieee.org

7. A STAMP CARD (AT THE COFFEE SHOP FOR EXAMPLE)
OF 8 STAMPS, WITH 2 ALREADY MARKED, IS BETTER
THAN A STAMP CARD OF 6 EMPTY STAMPS.
THE ALREADY MARKED STAMPS SET THE USER
MINDSET IN TO CONTINUING AND COMPLETING THE
WHOLE CARD.
Credit: thepapercupcompany.co.uk

8. PRICING: OFFERING AN INTERNET ONLY SUBSCRIPTION FOR
$49, OFFERING A HARD COPY ONLY FOR $129, OFFERING
AN INTERNET AND HARD COPY FOR $129. THE THIRD
OPTION IS BEST, BECAUSE THE CUSTOMER IS COMPARING IT
TO THE SECOND OPTION AND NOT THE FIRST. WHEN TAKING
OUT THE MIDDLE OPTION, THE FIRST ONE BECOMES THE
PREFERRED.
Credit: Prof. Dan Ariely, book on Amazon

9. SOCIAL COMPARISON/REMINDER
SAYING SOMETHING LIKE: "THE VISITORS IN THIS HOTEL
HAVE RECYCLED THEIR TOWELS" CAUSES PEOPLE TO
RECYCLE MORE. BECAUSE THEY ARE COMPARED TO
PEOPLE SIMILAR TO THEM
Credit: knightofwolf.wordpress.com

10. "TOUCH IT AND IT'S YOURS."
WHEN THE CUSTOMER HOLDS THE PRODUCT IN HIS HANDS,
PSYCHOLOGICALLY HE FEELS LIKE HE ALREADY OWNS IT,
SO WHEN YOU TRY TO TAKE IT AWAY FROM HIM, HE WILL BE
LESS GIVING. AND PURCHASING IT BECOMES LESS OF A
PAIN FOR HIM – INCREASE SALES
Credit: peterstark.com

11. INSTANT WIN:
TAKING AN ACTION AND REWARDING
FOR IT IMMEDIATELY.
FOR EXAMPLE: GIVING A RANDOM
DISCOUNT AT THE SHOP FOR SHARING
ON SOCIAL NETWORK.
Credit: bedminsterdental.com

12. THE PRICE OF THE PRODUCT SHOULD NOT BE DETERMINED
BY THE COMPETITORS;
RATHER IT SHOULD BE ACCORDING TO THE PERCEIVED VALUE
OF THE PRODUCT FOR THE CUSTOMER.
USING BRAND, THIS CAN ALSO BE THE OTHER WAY AROUND.
MEANING, THE VALUE CAN BE DETERMINED BY THE PRICE OF
THE PRODUCT
Credit: popsugar.com

13. RON BENTATA
D I G I TA L P R O D U C T
CRITIC
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