Should I believe my Customers?

Is market research accurate?

I’ve been spending a little time dispelling some myths about marketing from the work of Prof. Byron Sharp, et al, and as a sideline, I’d like to talk about marketers and market research.

Is market research accurate- well it depends. As business leaders and marketers we spend a large part of our lives listening to customers, and typically the most effective means of doing this is through market research.  … Read more

New pricing research…

Phew, we’ve had a couple of months on pricing, and now this is the last of those posts.

Since researching how you can influence pricing, new research has come to hand, so I’ll summarize it here.

TACTIC 32: Sort Prices From High to Low

You can influence customers to choose a more expensive option if you sort products by descending price (i.e., from high to low).… Read more

Price to avoid harmful practices

One of the key messages I’m trying to inform General Managers about is that when it comes to consumers, we have to be expert psychologists. Nothing is ever as simple as it seems. And when it comes to consumers price is as much a perception as in any other area of consumer engagement. 

And that’s good news. There are no universal standards that dictate whether a price is high or low — it all depends on the consumers perception of that price and how consumers learn about how pricing works.Read more

Price to enable price increases

One of the key messages I’m trying to inform General Managers about is that when it comes to consumers, we have to be expert psychologists. Nothing is ever as simple as it seems. And when it comes to consumers price is as much a perception as in any other area of consumer engagement. 

And that’s good news. There are no universal standards that dictate whether a price is high or low — it all depends on the consumers perception of that price and how consumers learn about how pricing works.Read more

Pricing to reducing the pain of purchasing

One of the key messages I’m trying to inform General Managers about is that when it comes to consumers, we have to be expert psychologists. Nothing is ever as simple as it seems. And when it comes to consumers price is as much a perception as in any other area of consumer engagement. In part 8 of our series lets look at pricing to motivate purchase.Read more