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Pricing Strategy
Article

Pricing Strategy

How Our Brains Keep Us Stuck



Editorial Rating

8

Qualities

  • Applicable
  • Well Structured
  • For Beginners

Recommendation

Economist Melina Palmer offers some good advice about pricing, a subject many businesses find difficult to tackle. She says that successful product and service pricing requires a focus on what is relevant to the product or service, and a disregard for extraneous detail. She also counsels business leaders to employ human behavioral psychology at every planning stage. Marketers and finance professionals will find her concise article a useful introduction to pricing strategy.

Take-Aways

  • Common approaches to pricing often flummox business owners.
  • Pricing guidance must account for psychology.
  • Human behavioral factors can misdirect business owners.

About the Author

Applied behavioral economist Melina Palmer is the CEO of The Brainy Business.