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You Are Paying More Than Others | Product Pricing Psychology - FutureIQ
How often have you seen different pricing for the same products on different e-commerce platforms? Or how about different pricing for different people but for the same seat on the same flight? If you have also experienced this unfair differentiation and gotten frustrated about it, then you might find this episode interesting.
This practice is nothing but "customer segmentation" that businesses follow and this episode we have uncovered the truth behind what we believe product pricing is in the market. By gaining insights into how companies charge more and sell more, customers can understand the psychology of product pricing.
What is most interesting to note is that the pricing of the product does not depend on the cost of production, raw material, labor, etc.; rather, it is to be decided on the basis of how much a customer is willing to pay for that particular product. We have explained the three broadly three categorizations for pricing based on customer types while also giving real-life examples, so watch till the end if you are curious to find out which category you fall into.
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By Videoschool MediaHow often have you seen different pricing for the same products on different e-commerce platforms? Or how about different pricing for different people but for the same seat on the same flight? If you have also experienced this unfair differentiation and gotten frustrated about it, then you might find this episode interesting.
This practice is nothing but "customer segmentation" that businesses follow and this episode we have uncovered the truth behind what we believe product pricing is in the market. By gaining insights into how companies charge more and sell more, customers can understand the psychology of product pricing.
What is most interesting to note is that the pricing of the product does not depend on the cost of production, raw material, labor, etc.; rather, it is to be decided on the basis of how much a customer is willing to pay for that particular product. We have explained the three broadly three categorizations for pricing based on customer types while also giving real-life examples, so watch till the end if you are curious to find out which category you fall into.