Are discounts really that bad? They get certain people to buy. For example, my fiancée is adamant about eating organic foods, but I was surprised one day when she came home with a box of inorganic cookies. “There was a coupon and I had to try it.” On the other hand, I understand how
Dan Ariely, a famed behavioral economics professor at Duke University, conducted an experiment on our control over the choices we make; or lack of in this case. Economist magazine offered subscriptions with an erroneous price for Print Subscription. Print and Print + Web were the same
A vital element of packaging and promoting your products is language. It matters a lot. I’m talking about word choice, the overall tone, the style portrayed, and even brand associations. For instance, how you end up portraying the size of your offering can impact its perceived value.
We understand value by comparing it to other items in the same category. For example, the price for a night at Four Seasons is indicative of its perceived higher value when compared to the price for a night at Holiday Inn. So, a $2000 photographer is better than a $350 photographer. A
Growing up in an Asian ethnic enclave, I know all about discounts. At times, it’s part of the culture. Even when I was visiting China, a buyer could automatically presume that the proposed price given at markets is 10x its real worth. No joke. Personally, I hate dealing with people wh
Continued From: Psychology of Choosing Let’s examine the pain points associated with choosing. Making a choice requires sacrifice. Choosing one usually means not choosing another. In some situations, there’s a way to make trade-offs and enjoy the “best of both worlds,” as the sa
Join other wedding and portrait photographers in effectively pricing and packaging their services through the psychological understanding behind consumption. If you’re wondering what the best way is to package your services and to properly price your worth – you’re n