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Melina Palmer
Pricing Strategy
How Our Brains Keep Us Stuck
Behavioral Economics.com, 2023
What's inside?
Psychology plays as large a role in determining pricing as margins and costs do.
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.
Summary
About the Author
Applied behavioral economist Melina Palmer is the CEO of The Brainy Business.
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