The Psychology of Pricing

If you have read any books on pricing, the title that stands above the rest is Hermann Simon's Confessions of The Pricing Man.

However, suppose you are looking for a book that includes nearly every pricing tactic ever used in business. In that case, I'd start with Handbook on the Psychology of Pricing by Dr. Markus Husemann-Kopetzky. The subtitle is 100+ effects on persuasion and influence every entrepreneur, marketer and pricing manager needs to know.

While this book is for the hardcore marketer and CMO, I recommend it to CEOs and CFOs too as pricing is a vital discipline that's lacking in many small businesses.

A few of the topics we cover include:

• Flat Rate Bias
• Scarcity
• Reciprocity
• $0.79 or $ 0.93
• Dropping Commas
• The Problem with Discounting High-Quality Products

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