“Human behavior flows from three main sources: desire, emotion and knowledge.” (Plato)
Perceptions of value are not only measurable, but also malleable. Indeed, customer preferences are not as clear and stable as classical economic thinking predicates. Rather, one’s needs and wants can shift across situations and time in ways that researchers in psychology and sociology have been mapping for years – and that business leaders are only now starting to grasp. This session helps audiences understand how the nuances of human thought and behaviour influences even the most mechanical of pricing decisions. I detail some of the popular anchors, nudges and charms at the disposal of organisations interested in motivating and empowering customers. As I explain, it is a critical, differentiating ability for any business plagued with customers who appear disinterested in any argument other than a low price.