Authors: Patrick Witschi, Aparna Bharadwaj, Jean-Manuel Izaret, Lauren Taylor
The context in which consumers shop for products has a significant impact on buying behavior. Pricing and economic research has shown that consumers constantly make tradeoffs between the options put in front of them, whether consciously or not. In this article, the author presents four best practices pricing practitioners can apply to leverage relative price points and successfully restructure your portfolio. Liren Truong is a Consultant at Simon-Kucher’s Boston office. She has a background in consumer psychology and experience structuring product portfolios. She can be reached at liren.truong@simon-kucher.com.
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