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Pricing Optimization

Pricing Optimization

43 videos

/

2.6 hours

About the Course

1. Introduction

Overview of Pricing Methods

2. Method 1: Psychology

eCommerce Pricing

3. Method 2: Surveys

Determine Your Customer Segments

Select the Survey Tool

Recruit People in Each Segment

Ask People to Evaluate Your Product

Analyze Their Willingness to Pay

Compare Responses Across Segments

Example: Home Goods

4. Method 3: Van Westendorp

Overview of Van Westendorp

Step 1: Collect the Data

Step 2: Convert the Data Into a Frequency Table

Step 3: Convert Table Into Percentages

Step 4: Analyze the Van Westendorp

5. Method 4: Gabor Granger

Overview of Gabor-Granger

Step 1: Set Up the Gabor-Granger

Step 2: Prepare the Data

Step 3: Analyze the Gabor-Granger

6. Method 5: Conjoint Analysis

Overview of Conjoint Analysis

Which Software to Use?

Step 1: Set Up the Conjoint Study

Step 2: Analyze the Conjoint Data

Bonus Method – Conjoint Analysis in Excel

7. Method 6: Split Testing

Overview of Split Testing

Which Prices Should You Test?

8. Method 7: Demand Curves

Overview of Demand Curves

How to Analyze a Demand Curve

9. Bonus Videos

Method: Reaction Time

The House Money Effect

How Do We Evaluate Prices?

How to Reduce the Pain of Paying

What's the Best Visual Size?

What's the Best Visual Position?

Should Your Price Be Round or Precise?

What Should You Place Around the Price?

Which Numerals Should You Choose?

How to Design Your Pricing Package?

How to Structure the Payment?

Which Products Should You Discount?

Which Type of Promotion Should You Offer?

How Big Should Your Discount Be?

How to Frame and Display Your Discount

Bonuses

Spreadsheet_Van Westendorp.xlsx

Spreadsheet_Gabor-Granger.xlsx

Spreadsheet_Conjoint Analysis.xlsx

About the Course

Find the optimal price for any product or service

Nick Kolenda