Download pdf - How to Price Your Platypus · 07/10/2018 1 How to Price Your Platypus: Getting The Best Price For Your Keynote, Seminar or Workshop David Abbott [email protected] 07971 962235

07/10/2018

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How to Price Your Platypus:Getting The Best Price For Your

Keynote, Seminar or Workshop

David Abbott

[email protected] 07971 962235 @davidatinsight

07/10/2018

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Heuristics(rules of thumb)

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But Business

Customers Are

Rational

…aren’t they?

Parole Decisions

No Previous Offences

Rehabilitation Program

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65%

% of Prisoners Granted Parole

10%

Shai Danzigera, Jonathan Levavb and Liora Avnaim-Pessoa: ‘Extraneous factors in judicial decisions’, Proceedings of the National Academy of

Sciences of the United States of America

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Price

Relativity

1

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Proposal for Client

Option 1 - £700Turn up, speak, go away

Option 2 - £1000Turn up, speak, free workshop

Option 3 - £1100Turn up, speak, free workshop, free consultations, 5 free

books (signed), promote on social media, etc

£20£28£10 £30

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Price Anchors

2

0

10

20

30

40

50

60

00-19 20-39 40-59 60-79 80-99

Cordless Trackball

Cordless Keyboard

Design Book

Neuhaus Chocolates

1998 Cotes du Rhone

1996 Hermitage

Dan Ariely, George Loewenstein, Drazen Prelec; “Coherent Arbitrariness: Stable Demand Curves without Stable Preferences”, Quarterly Journal of

Economics (2003)

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6510

£7 - £10 £40 - £60

47 7732

8759

8

29

6mm

PU Foam

9mm

PU Foam

11mm

PU Foam

11mm

Sponge

9mm Crumb

£2.99 £4.99 £5.99 £7.99 £9.99

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9mm

Crumb

11mm

Sponge

11mm

PU Foam

9mm

PU Foam

6mm

PU Foam

£9.99 £7.99 £5.99 £4.99 £2.99

Proposal for Client





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Proposal for Client

CredentialsLast year spoke to 2000+ people/month

Average value gained by audience is £3,534

Mean Clapometer score is 1800

Price - £1100Turn up, speak, go away

£10£30£40

Platypus 80

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3Price vs

Value

Sales

Low

Normal

High

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Sales

Low

Normal

High

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$5 $10 $35 $45 $90

Hilke Plassmann, John O’Doherty, Baba Shiv and Antonio Rangel: ‘Marketing actions can modulate neural representations of experienced

pleasantness’, Stanford University, 2007

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“No one ever got

fired for buying“

”

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Proposal for Client





£50

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Arbitrary

Precision

4

Manoj Thomas, Daniel H. Simon, Vrinda Kadiyali: ‘Do Consumers Perceive Precise Prices to be Lower Than Round Prices? Evidence from Laboratory and

Market Data’, Johnson School Research Paper Series #09-07, 2007

Petri Hukkanen, Matti Keloharju: 'Initial Offer Precision and M&A Outcomes', Aalto University, Harvard Business School, CEPR, and IFN, November 2, 2015

Malia F. Mason, Alice J. Lee, Elizabeth A. Wiley, Daniel R. Ames: 'Precise offers are potent anchors: Conciliatory counteroffers and attributions of knowledge in

negotiations.' Journal of Experimental Social Psychology, 2013

£325,000

£325,425

Fewer ‘0’s =

less discount

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Proposal for Client





£78.32

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1 Price Relativity

2 The Power of

3 Price vs Value

0

5 Price Abstraction

6 Arbitrary Precision

4 Price Anchors

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8 Hyperbolic Discounting

9 Charm Pricing

7 Elective Pricing

10 Two-Part Pricing

11 Dynamic Pricing

12 Price Presentation

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Most Expensive

Per Litre

In the

WORLD????

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£100

£100,000

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£100,000,000

£100,000,000,000

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www.amazon.co.uk/How-Price-Your-Platypus-

Understanding-ebook/dp/B06XK96VSW/

www.david-abbott-speaker.co.uk/blog/

@davidatinsight

Newsletter – send me a request to:

[email protected]

Thank You

David Abbott

Insight Best Practice

[email protected] 07971 962235 @davidatinsight

mailto:[email protected]