Taking the Pain out of Sushi Pricing

The menu designer for an Austin restaurant, Roll On Sushi Diner, must be a Neuromarketing or Brainfluence reader. A while back, I identified sushi-style pricing as being the worst possible approach because each tiny bite is a separate pain…

What Pricing Strategy Beats Discounts?

If you want to sell more product by running a sale, which would make more sense: advertising "price cut 33%" or "50% more" product? Functionally, the two are the same level of discounting. Researchers at the University of Minnesota found,…

Pricing Lessons from Restaurants

My last Neuromarketing post, Neuro-Menus and Restaurant Psychology, talked about various things restaurant menu engineers do to maximize sales and profits. I think it's worth calling special attention to one aspect touched on in that post:…

Anchor Pricing Strategies

Here's a scenario... You decide to venture into a cell phone store despite your reluctance to deal with a bewildering number of phones, options, plans, along with a confusing price structure. As usual, you find you'll have to wait a bit for…

Precise Pricing Pays Off

In my time as a catalog marketer, I almost always priced products just below the next dollar increment - a cheap item might be $9.97 rather than $10, while a more expensive item may have been $499, or even $499.99, instead of $500. My…

Pricing, Ego, and Emotion

Neuromarketing and Pricing. Why do people sometimes set prices that are too high, and then stubbornly stick with them despite evidence from the marketplace that the price is indeed wrong? Neuroeconomics research tells us that financial…