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Description

Getting people to buy something is hard. So many things can happen in a customer's mind that factor into the purchase decision. This course turns to solid scientific research in psychology to uncover tricks and hacks you can use to increase sales by massaging one fundamental element:
the price
.
What You'll Learn
In this course we consider
six major strategies
you can use to your marketing pursuits by using real data from behavioral science. Within each one are many individual things that make prices more appealing, totaling
more than 30 psychological price effects
that will strengthen your offline and online marketing campaigns.
Picking the Right Price:
How to choose the number that will appeal most to consumers without changing your profit level.
Presenting Your Price:
How to write and say your price in the most appealing ways possible.
Framing Your Price:
How to communicate your price more effectively once the price is set.
Using Context to Your Advantage:
How to present differently priced products
together
in ways that maximize profits.
Smart Discounting Practices:
How to present your promotions in ways that make the deal irresistible.
Handling Extra Charges:
How to most effectively present your prices when there are unavoidable additional fees to communicate.
As a bonus, I also include a full
PDF notes
document that summarizes all the major techniques we go over because when you are designing your marketing and advertising strategies, you don't always have time to review a full
3 hour
video course.
Why Learn From Me?
As an award-winning psychology instructor, I have experience translating research in the field and presenting it in an
engaging
,
understandable
way. My students routinely evaluate my courses highly and comment on the
passion
I have for social psychology. I hope you can join this group of satisfied students and learn something new about yourself and psychology.
So
take this course
now and understand the science of pricing and what it can do for your business and marketing efforts!
Who this course is for:
If you're selling anything, you need to know how people are perceiving your price. This applies to people selling both online and offline, and it applies just as well to physical products as it does to service-based businesses.
If you want to increase the likelihood that people will buy from you without changing anything about the goods themselves, this course is vital.

What you'll learn

Price your product or service to maximize revenue

Understand how consumers perceive and think about prices

Run promotions that make people think they're getting an amazing deal

Think about your full set of products and services in ways that maximize earnings

Requirements

  • You will need a copy of Adobe XD 2019 or above. A free trial can be downloaded from Adobe.
  • No previous design experience is needed.
  • No previous Adobe XD skills are needed.

Course Content

27 sections • 95 lectures
Expand All Sections
1-Introduction to Price Psychology
2
1.1-Introduction
1.2-A Quick Word About Reviews
2-Picking the Number
9
2.1-The 99 Effect
2.2-The Left Digit Effect
2.3-The Round-Luxury Effect
2.4-EXAMPLE: Wall Street Journal Interview
2.5-Appealing to Price-Conscious Consumers
2.6-95 vs 99: Which is Better and When?
2.7-The Precision Effect
2.8-Ego Pricing
2.9-Picking the Price QUIZ
3-Presenting the Price Visually and Auditorily
6
3.1-The Syllables Effect
3.2-Do Cents Make Sense?
3.3-The Comma Effect
3.4-The Verticality Effect
3.5-The Male-Red Effect
3.6-Presenting the Price QUIZ
4-Framing Your Price Appropriately
5
4.1-The Pennies-a-Day Strategy
4.2-The Spare Change Effect
4.3-Gain-Framings and 9-Ending Prices
4.4-Time Framing
4.5-Framing QUIZ
5-Using Context to Your Advantage
6
5.1-The Compromise Effect
5.2-The Decoy Effect
5.3-BONUS RESOURCE: Dan Ariely Discusses the Decoy Effect
5.4-The Descending Order Effect
5.5-The Anchoring Effect
5.6-Context Effects QUIZ
6-Smart Discounting Practices
11
6.1-The Subtraction Principle
6.2-The Ease of Computation Principle
6.3-Percentage-Based Discounts
6.4-The Relative Size Effect
6.5-The Verbal Matching Effect
6.6-The Relative Distance Effect
6.7-Vertical vs. Horizontal Positioning: When To Use Which
6.8-The Left Digit Effect (Returns!)
6.9-The Right Digit Effect
6.10-Putting Limits on the Offer
6.11-Smart Discounting QUIZ
7-How to Handle Additional Charges
7
7.1-Introduction to Partitioned Pricing
7.2-The Role of Visual Surcharge Size
7.3-The Role of Surcharge Amount
7.4-The Surcharge Consolidation Effect
7.5-Should Surcharges Be Presented as Percentages?
7.6-The Reverse Partitioning Effect
7.7-Partitioned Pricing QUIZ
8-Conclusion
5
8.1-Goodbye and Parting Words
8.2-PDF Resource
8.3-References
8.4-Bonus Lecture: More from Andrew Luttrell
8.5-Course Completion Certificate