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Pricing power and breaking taboos: Your Marketing Week
At the end of every week, we look at the key stories, offering our view on what they mean for you and the industry. From the power of behavioural science in pricing to the most complained about ad of the year, it’s been a busy week. I’m stepping in for Russell this week, so here is my take.
Best behaviour
Given the option of a value product, a premium alternative or a super-premium, extra bells and extra whistles version, which are you most likely to go for? According to multiple studies it’s the middle option, because people tend to think the value version might be too basic or poor quality, but the top-of-the-line option too extravagant and beyond their needs.
