Understanding Costco’s messaging code embedded in its price point endings can be dramatically useful for consumers looking for bargains and further inflation-fighting opportunities. For pricers and marketers, it invites admiration and respect for a brand that is immensely successful because it thinks the details through, as the author explains.
In this case study, the author outlines a portfolio optimization project for Oberbayerische Volksblatt (OVB) Rosenheim. This project helped the company transition from a confusing showcase of possibilities to a subscription store that helps customers decide. The emphasis on behavioral selling has increased the company’s portfolio value by 36%.
The use of behavioural pricing tactics to influence customer buying behaviour is not a new phenomenon, but it is being increasingly implemented by traditional B2C and B2B companies in recent years. In this article, the authors identify and examine three specific opportunities for pricers to employ behavioural pricing tactics.