Course Outline
Introduction
Overview of Pricing Psychology for Government
- Importance of pricing in public sector operations
- The influence of the number nine in pricing strategies
- Price anchoring techniques for government services
- Strategies for inviting price comparisons in public procurement
Choosing the Right Price for Government
- Audience-matching strategies to ensure fair and transparent pricing
- The impact of ending prices with 99 on consumer perception
- Evaluating the effectiveness of prices ending in 95 versus 99
- Avoiding odd-ending prices for clarity and simplicity
- Understanding the precision effect in pricing decisions
- The role of ego pricing in government contracts and services
Presenting the Price to Consumers for Government
- The syllables effect on consumer perception of price
- The impact of adding cents to prices for transparency
- The use of commas in large numbers for clarity
- The verticality effect in displaying prices
- The male-red effect and its implications for government marketing
Framing Strategies for Pricing for Government
- The pennies-a-day effect to make costs seem more manageable
- The spare change effect to influence purchasing decisions
- Using gain-framing with 9-ending prices to enhance appeal
- The time framing of prices for long-term contracts and services
Presenting the Product to Consumers for Government
- Providing a compromise option in product offerings
- The decoy effect to highlight preferred choices
- The descending order effect in presenting options
- The anchoring effect and its impact on consumer decision-making
Offering Product Sales and Discounts for Government
- The subtraction principle in discount calculations
- Ensuring ease of discount computation for transparency
- The effectiveness of percentage-based discounts in government programs
- The role of relative size and distance in pricing strategies
- The verbal matching effect on consumer perception
- The impact of vertical and horizontal positioning of prices
- The left and right digit effects in price presentation
- Setting discount limits for fair competition
Dealing with Additional Charges for Government
- The partitioned pricing strategy to manage additional costs
- Strategies for presenting surcharges transparently
- The role of surcharge amount in consumer acceptance
- The surcharge consolidation effect on overall cost perception
- Reversing partitioning to simplify charges
Summary and Conclusion for Government
Requirements
- A foundational knowledge of sales, marketing, and pricing strategies
- An interest in applying psychological theories and research to business practices
Audience for Government
- Entrepreneurs
- Marketing professionals
- Sales professionals
Testimonials (3)
Irma was attuned to us as learners and our business needs. It was clear that she was actively listening to us from the informed feedback she then provided.
Siobhan - Raintree
Course - Digital Marketing for Software-as-a-Service (SaaS)
Responses with solutions and practical use.
Agnieszka - AIRBUS HELICOPTERS POLSKA SP. Z O.O.
Course - Google AdWords: Beginner to Advanced
She was able to answer everyones questions easily...Clearly indication of her expertise.