It happens. A set sale slips away and you know why - the price. Let's talk pricing...
Consumer behaviour provides clear insights into the psychology of pricing and there are some tricks to help set your prices.
Reducing Pain Points - The human brain is wired to "spend until it hurts". The limit is reached when the perceived pain is greater than the gain. So why not reframe the product' value with asset finance? £84/month is certainly more appealing than £1000 upfront.
A timeless tradition - ending your prices with a number 9 is the oldest trick in the book, does it work? The answer is a resounding yes!
Keep it simple - Prices that contain more syllables seem higher. In a paper published by the Journal of Consumer Psychology, 3 pricing structures were tested:
Can you guess which pricing was selected more?
At GRENKE, whatever your price, we can help secure the sale with our Asset Finance solutions.
With a solid pricing strategy and a finance solution, say hello to more sales with no more pinch points.